If you’re under 30, buying a home might sound like a far-fetched dream: Fewer people between ages 25 to 34 are buying homes now compared to older generations at that age, according to a July 2018 report from the Urban Institute. And if you’re dealing with student loan debt, you might find yourself feeling particularly swamped: According to an October 2018 report from Magnify Money, a LendingTree-affiliated site, millennial households with student debt have accumulated, on average, $85,289 less wealth than their debt-free peers.
But despite this, many millennials are, in fact, buying homes. Though 54 percent of urban home buyers did so with gifted funds, many people under 30 have achieved the American Dream with their own money—even with student loans.
By Andrea Sielicki |April 15, 2019
5. Split expenses whenever—and however—possible
Buying a home can be daunting—and expensive—solo. Kate Ziegler, a Boston-based Realtor, and her partner, Jack Romano, purchased a four-unit multi-family home together in Boston, Massachusetts, when they were 28 and 29. They did most of the renovations themselves. Even together, it was a lot to take on. “I can’t imagine having gone through our first purchase as a single person,” Ziegler says.
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