Are Millennials Waiting To Buy?
Forward-looking millennials are recognizing that owning a home is an integral part of their personal and financial well being. They see their current home as a stepping stone to their “forever home” and understand the long-term payoffs.
Prospective first-time homebuyers who are still waiting until they feel better prepared could gain insight from the experiences of peers who are already benefiting from homeownership.
Younger buyers who have made the leap understand the value of buying sooner and are confident they made the right decision. This group sees the positive impact homeownership has on their long-term financial picture and they believe owning a home is more affordable than renting.
While many would-be buyers are planning for a first-home purchase, they aren’t ready to take the plunge just yet. They rank paying off debts and bills, improving credit score and saving for a new home as their top three financial priorities.
Experienced buyers say the value of homeownership goes beyond dollars and cents. Homeowners value the emotional benefits of homeownership; The majority are proud of owning their home and treasure the memories they have made. Most of owners say homeownership is not a burden.
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