Millennials represent 36 percent of all homebuyers in the US today. A new housing community called New Haven in Ontario, California, reports a millennial homeownership rate of more than 50 percent. New Haven offers modest homes at prices from $200,000 to $500,000. California is no paragon of affordability, particularly when it comes to housing. In
We all need a place to live, whether it’s a one-room apartment or a sprawling multi-bedroom house. The question is: Does it make more sense for you to rent or buy? When you buy a home, you’ll encounter expenses like your monthly mortgage payment, property taxes, insurance, maintenance, and repairs, not to mention the opportunity
Know what to expect Buying a house is one of the largest financial commitments many people make in their lifetimes. Between the down payment, principal, interest, taxes, and insurance payments, utilities, maintenance, repairs, and updates, the financial outflows can be overwhelming. A key aspect for most homebuyers is a mortgage — a loan secured by
The narrative that millennials are eschewing all of the traditional habits of their parents is simply a myth, particularly when it comes to homebuying. In fact, 65% of millennials still consider buying a home part of the American Dream, more than any other generation. But burdensome student loan debt, high rent prices, and low wages
Owning a home has long been the American Dream, but these days, far too many people are pushing themselves too hard to attain it. It’s estimated that 39 million Americans can’t actually afford their homes, while more than half the population has been forced to make major financial sacrifices to keep up with housing payments.
In late March 2016, I saw my house for the very first time. It was love at first sight, but my husband Tyler and I weren’t really ready to buy a home. As 27-year-old newlyweds who were perfectly happy in our 650-square-foot Manhattan apartment, we were in no rush to relocate to the suburbs. We