Millennials currently make up the largest share of home buying activity in the US. This generation is set on becoming homeowners—and, according to a recent report, many are willing to make sacrifices in order to turn their dream of homeownership into a reality.
According to a recent study on first-time homebuyer motivation from Chase Home Lending, a whopping 70% of millennials are willing to cut back on weekend or leisure activities (like shopping, visiting a spa, or going to the movies) in order to buy a home in the next 12 months. Millennial women are particularly driven and willing to sacrifice to transition to homeownership; 71% of millennial women surveyed also said they'd be willing to limit eating and drinking out to once per week in order to better set themselves up to purchase a home.
The Takeaway:
If you're a millennial and want to buy a home in the near future, it might take some sacrifices to get there—but with the majority of your generation willing to make those same sacrifices, you'll be in good company.
