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A Mortgage Before Marriage!

Times they are a-changing! According to Lending Tree, young adults are getting married later in life. In 1980, the median age of a first marriage for men was 24.7 and 22 for women; by 2018, those numbers rose to 29.8 for men and 27.8 for women.

  • Millenials comprise 37% of current home buyes

  • Twenty-seven percent of millennial buyers say they are postponing parenthood until after they purchase a home

  • 22 percent are waiting to get a pet until they have a home of their own

  • 17% of Millenials are holding off on job changes until they can purchase a home

With a shortage of inventory in many parts of the country and extremely high home prices in California, young people may be waiting a while. Saving enough money for the down payment and finding a home they can afford are a difficult challenge but I have confidence in our young people. I have 4 nieces who've graduated from college and all of them seem to be conscientious savers. Every dollar counts and a little help from the parents wouldn't hurt either!

Source: “Nearly 1 in 4 Millennial Homebuyers Want to Buy a Home Before They’re Married,” LendingTree (April 16, 2019)

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