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Gen Z Prepping to Be Homeowners

Gen Z Prepping to Be Homeowners The oldest members of Generation Z are eyeing home ownership, according to Property Shark. Roughly 83% of those born between 1995 and 1999 plan to buy a home in the next five years. That's slightly less than the 87% of millennials who expect to own a home in the same time frame. One of the biggest obstacles for those aspiring homeowners is student loans. College loans now top a record-breaking $1.5 trillion in the U.S. Another challenge standing in the way is the down payment. Putting down 20% of property value is recommended to avoid additional PMI costs. Many are gravitating towards less expensive homes to save on the down payment. Roughly half of Gen Z participants in the survey paid less than $10,000 as a down payment. Millennials are seeking lower prices to invest more in remodeling their homes.

Source: Inform News

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