Here's WHY: 63% of Millennials Regret Buying a Home

Here's WHY: 63% of Millennials Regret Buying a Home

** Link to Article **
https://www.cnbc.com/2019/02/28/63-percent-of-millennial-homebuyers-have-regrets-heres-why.html

In this video, I discuss the article and why I think there are flaws with the thinking behind millennials being unable to afford a home in 2019.

Owning a home requires the homeowner to constantly handle repairs and maintenance of the property, internal and external.

I provide three different options for a first time home buyer in Las Vegas, NV to consider. The houses are located in and around the nicer areas in Las Vegas as first time home buyers are always looking to live in the best neighborhoods to raise a family.

House 1
3 bed, 2 bath 1,244 square feet

House 2
3 bed, 2 bath 1,200 square feet

Townhouse 3
3 bed, 3 bath 1,331 square feet

After detailing the monthly expenses, cost to purchase, and cash in reserves for all 3 properties, I leave it up to you to decide which option is best for our new home buyers who are looking to utilize their mythical $20k the best way they can.

Leave your comment below on which option you would select.

** Memorable Quotes from Article **
Yet many of the younger people lucky enough to own a place still suffer from buyer’s remorse. Nearly two-thirds, or 63 percent, of millennials (ages 23 to 38) say they have regrets about purchasing their current home, according to a new poll of about 1,500 homeowners from Bankrate.

The top reason millennials have regrets
Underestimating the hidden costs associated with buying and owning a home, including the ongoing responsibilities of maintaining it, is the No. 1 millennial homeowner frustration.

There’s a ‘shortage’ of starter homes
Unfortunately, though, many millennial homeowners end up paying more than they wanted to or had budgeted for because there aren’t many homes available at the prices young people can comfortably pay.

In many cities around the U.S., particularly in coastal areas, home prices are out of reach. Only 67 percent of homes available in 2018 located in metro areas tracked by Redfin were priced affordably for millennials — down from 71 percent of homes in 2017. In Los Angeles, only 19 percent of homes are in a price range that millennials can afford, based on their median incomes.

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Видео Here's WHY: 63% of Millennials Regret Buying a Home канала Spencer Cornelia