By Dees Stribling | MHN Online
The notion that millennials are going to eschew home buying as they get older may not be founded in fact. A new survey from the Collingwood Group shows 65 percent of the age group (aged 24-34) are “somewhat” to “very likely” to give up on certain things to finance a home purchase. Indeed, a majority of millennials are willing to sacrifice the likes cell phones, cable and Starbucks to save for a down payment on a home.
Also, according to the survey, when it comes to financing their first homes, millennials think more like their parents than is generally acknowledged. Close to 75 percent of the age group would be more comfortable applying for a mortgage with a traditional bank over an alternative lender.
And despite the generation’s Internet focus, they aren’t willing to pay more for a streamlined, online mortgage process.
