Tuesday, August 4, 2015

Millennials Are Cutting Corners to Save For Home

Well this was one of the most interesting articles read today!

These little children of ours, the 24-34 year olds, are acting like us when it comes to buying their first home. LOVE IT!!!

Survey done says that 65% of them will forgo modern conveniences to save for a down payment. Give up the internet, cable TV, Starbucks, and even cell phones! WOW! No Starbucks? Love it again!

Interesting too is that 75% of them would prefer to use a traditional bank vs. a mortgage broker. Talking about taking after their elder parents and grandparents. Wow.

They also said they would pay more for efficiency in the mortgage process. Would avoid the online lenders....even though the Millennials are so internet savvy. Smart kids!

But grab this, while they are single they love the urban lifestyle, right? However the survey noted that about 70% of those polled would rather live in the suburbs!

Those Millennials are turning out to be a very bright bunch!

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