The Compromises Millennials Make to Be Homeowners

Lauren Bowling of L Bee and The Money Tree

Lauren Bowling of L Bee and The Money Tree

For millennials who head down the aisle and start decorating nurseries, a mortgage is a scary prospect to add to an already heavy debt load. It makes sense that they’ve delayed the homebuying process compared to previous generations, as only 36 percent of homeowners are age 35 and younger, according to the census.
Ultimately, if millennials want to exchange rent checks for building equity they have to make a few compromises. Here’s a look at how some millennials overcame their homeownership challenges.

Dealing with Debt and Homeownership

It could take a decade (or decades) for many members of the millennial generation to ditch student loans and become debt-free, but that doesn’t mean they want to delay homeownership until their late 30s or early 40s.

Instead, millennials are coming up with resourceful ways to balance the debt of a mortgage with their financial situations.

Read the full article on US News My Money!

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Find out what Allie and Josh Hines gave up in order to buy their home!

Posted in US News' My Money Blog

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