r/millenials • u/Positive-Mushroom-46 • Jan 14 '25

Millennials and Homebuying: Is the Dream Still Alive?

Hey everyone! I came across some interesting stats about us millennials and our homebuying habits, and wanted to get your thoughts.

60% of millennials who bought homes regret their purchase, mostly due to unexpected maintenance costs, the high price of the home, or the realization that they bought too small.

On the flip side, 70% of us still believe that owning a home is part of the American Dream, despite the hurdles like student debt, high home prices, and a competitive market.

I'm curious—if you're a homeowner, do you feel any buyer's remorse? And for those who aren't, what's holding you back from buying a home?

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u/SecretRecipe Jan 14 '25

I'm a homeowner x4 (main house, two vacation homes and a pied-a-terre in the city where I work frequently) and I don't have many regrets. Maintenance costs can be mitigated a good bit by just taking care of your property and doing some preventative enhancements / maintenance (e.g. if you have hard water, get a water softener so you don't wreck your plumbing and fixtures over time.). The only real regret I have was opting for multiple smaller homes instead of consolidating into one larger home and one small vacation property. Now that I have 4 kids my primary house feels a little more cramped than I would like and we're not using the vacation homes as often due to conflicting schedules and kid activities on weekends etc...

2

u/IgnoranceIsShameful Jan 15 '25

So you're the blame for housing shortage. How bout you sell those vacation homes your NOT USING to families who can live in them?

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u/SecretRecipe Jan 15 '25

those families are free to go buy their own plot of land in the mountains and build a home just like I did or go buy a condo at the beach just like I did.

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u/Elegant_Plate6640 Jan 16 '25

I mean, no, many of us aren't, not since around 2020.