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What comes first? The house or marriage?
What do you think? Would you get married first or buy a house? I believe everyone has their own way of doing things but according to a survey by Bank of America’s 2018 Homebuyer Insights Report, which was culled from 2,000 consumer responses first comes the house THEN marriage.
The survey finds that 23- to 40-year olds value homeownership above nearly everything else: 72 % call it a top priority compared to 50% who say getting married or 44% who say having children are top priorities. “Being able to retire” topped homeownership in the survey at 80%.
A lot of us millennials relate homeownership with personal and financial success, the survey finds. We, apparently say buying a home makes us feel mature, independent and act like adults.
Many renters seem to be upbeat about buying if you fall into this category, that’s great, you should be optimistic even though there are several obstacles that could be delaying your plan to purchase.
Did you know renting long-term can be more expensive than buying a home? 69% of renters believe their rent will continue to increase every year or every other year making it harder in becoming homeowners.
Another interesting thing is a lot of renters believe they need 20% down to buy a house when that’s just not the case all the time. If you’re a Veteran you can purchase with no money down, while other loan programs like FHA requires only 3.5%
If you’re interested feel free to contact me, I can help guide you in the right direction.
As always thank you for reading, I appreciate you and your time.
xx Your favorite REALTOR® gal.