Who says all millennials still live with their parents
About four in 10… millennials are living in purchased homes and are deeply regretting not staying with their parents. Millennials are feeling buyer’s remorse according to a recent survey. Many even borrowed from their retirement savings (big no-no) to finance a down payment – all for the “joys” of homeownership.
Houses are expensive… not just the down payment, mortgage payment, utility payment(s), and so on. The joys of homeownership are found in the little things like mowing the lawn and fixing things that break – you know, things your landlord (or parents) should be doing. These tasks are time-consuming, costly, and often a mixture of both.
To avoid this trap… do your homework. Get the home inspected before agreeing to purchase it – you want to spend $15,000 on something cool, not on a foundation or electrical work. Also, be sure to figure out exactly what you need in a home because the pickier you are, the less likely you are to buy something you will regret.