Almost 70 Percent Of Millennials Regret Buying Their Home

Almost 70 Percent Of Millennials Regret Buying Their Home

 Almost 70% of millennial's regret buying their home, Why?  Now for those who haven't heard, a millennial is someone age 21-34. A survey of 600 millennials by Bank of the West shows that about 4 in 10 millennial's own a home. So why do 70% of those regret buying? 

First - Down Payment

 They felt like they put too much money down? Actually they dipped into other accounts to make the down payment. In Colorado there are great down payment assistant programs that can help you with this problem! 

Roughly four in 10 millennials felt they made poor financial choices when it came to purchasing their home. Part of the problem seems to revolve around the down payment. The survey found one in three millennials dipped into their retirement accounts to pay for their homes — a trend Bailey calls “alarming.”

Second - They didn't account for the ongoing cost of owning a home. 

  Once you move in the cost to own a home does not stop. From things like a leaky faucet, mowing the lawn, and cleaning the house. They can't just call the landlord anymore. When I show homes to buyers, I do ask what would you do after you move in? Reasons being is I want them to think about the  "other" cost involved. 

Third- Settling for something not quite right!

 I'm sorry I just don't get this one. This is going to be the BIGGEST purchase of your life. Why would you settle?  I showed 15 homes to a good friend of mine because they wanted to find the perfect place! You should not buy unless its everything you want! 

 If you're a millennial and looking to buy or sell in the Denver metro area! Call the millennial agent today! 720-343-9030   

James Cavoto Headshot
Phone: 720-625-1688
Dated: August 14th 2018
Views: 533
About James: ...

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