Buying a Home as a Millennial: A Whole New Set of Struggles
Posted by West + Main Homes on
According to a new report by Trulia, millennials are facing different challenges than past generations.
An astounding 98 percent of home-buying millennials surveyed for the report are being kept out of the market, with barriers including credit (cited by 26 percent of millennials), a down payment (31 percent) and prices (40 percent).
Given the hurdles, millennials are compromising on their wants: 84 percent, for example, would give up a feature in their home so that they could buy in their desired location, the report reveals. (The No. 1 do-without feature? A garage, followed by a kitchen that has been updated.) By comparison, just 25 percent of boomer buyers and 35 percent of Generation X buyers would do the same. Strikingly, 24 percent of…
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