Traditionally, Americans wait until after they are married or in a committed relationship to invest in real estate, but some are deciding to take the plunge solo.
A new report by AllStarHome analyzed U.S. Census Bureau data to rank the states with the most and least single homeowners. Mississippi has the most single homeowners per capita, followed by Louisiana, New Mexico, Nevada and Georgia. And a survey of single Gen Z and Millennial homeowners is revealing more about what it’s like buying and maintaining a home alone.
- 68% didn’t need financial help to buy a home by themselves
- Top Reasons for Purchasing a Home Solo: Not Wanting a Landlord, Rising Cost of Rent and Needing More Space
- 2 in 3 single Gen Z and Millennial homeowners are concerned about covering expenses by themselves
- Half say expenses are harder to cover in 2023
It's clear millennials and Gen Z have a different view of homeownership than previous generations. According to the report, 70% envisioned themselves as a single homeowner. But they may be the lucky ones. 59% believe becoming a single homeowner is unattainable in 2023.
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