Millennials are the largest and youngest adult generation, but with having student loans to pay off, millennials are living in a world of sharing their music, rides, vacation places and favorite foods all through social media – rather than owning a home as top priority. According to the National Association of Realtors® this is supposed to change for 2017. Here are a few points why buying a house might be a smarter choice than renting:
1. Wasting money on rent: Instead of paying someone else’s mortgage, this money could go towards their own home.
2. Most likely their monthly rent is higher than what a payment towards a house would be. A report in Investor’s Business Daily states that paying a mortgage is cheaper in 42 states, because the interest rates – even after raising slightly – are still very low.
3. Being the generation of social media and self-expression: nothing beats the feeling of having your own home with a beautiful kitchen, floor or wall paper to hang up a printed version of a great Instagram shot.
By: PATRICIA MADIGAN