Nothing can stop millennials from becoming a homeowner, including those who are actively improving their credit scores. Even industry experts are noticing that a significant percentage of millennials are flocking the housing market this year to fulfill their American dream of homeownership.
Many millennial homeowners in the U.S. are feeling “house rich, cash poor” according to a recent study. After fulfilling their homeownership dreams, some millennials have become uncomfortable with their finances. In this situation that even wealthy millennials are affected by the continuous skyrocketing home prices, it’s important that you figure out if you’re ready to enter the housing market ahead of time so you can enjoy your investment.
A growing number of millennials are reportedly choosing to live in the suburbs over big cities. Factors like good weather and better employment opportunities make this age group choose smaller metros. We’ve listed 10 of the best suburbs where you can buy your first home as a millennial.
Setting a budget and saving money for a down payment can be a challenge, but a gift from a willing (and generous) family member can certainly help reduce the financial strain. However, before you head to the bank to make the deposit, there are some rules and requirements that you should know about accepting gift funds.
The Millennial generation is vastly different than previous generations, and it has affected many aspects of our society. Millennials’ lifestyles and preferences have even started to alter the real estate world. Let’s take a look at how Millennials are shaking up the housing market: