Unmarried people would rather start fresh and buy a new home with their partners
.jpg)
Convenience topped the motivations of nearly half of millennials for buying their first house with their spouses more than the other generations, according to a recent survey by SunTrust.
The survey of more than 2,000 adults who have been married found that 48% of millennials bought a home before tying the knot, compared to 35% of baby boomers.
Specifically, 25% of bachelorettes and 21% of bachelors said they would prefer to sell their properties and buy a new home with their significant other after getting married, according to the survey.
In addition, the primary motivations for millennials who have owned homes included proximity to work (29% versus 18% of Gen-Xers and 18% of baby boomers), schools (20% versus 12% of Gen-Xers and 10% of baby boomers), as well as leisure activities (16% versus 8% each).
"It is easier to live life to the fullest – whether you are buying a home, downsizing, or selling – when you are financially confident," said Sherry Graziano, mortgage transformation officer at SunTrust. “While everyone has different goals, across generations and lifestyle choices, it is important to make sure your financial habits are supporting, rather than preventing, the moments that matter most to you.”
