30 Times Millennial House Owners Shared Their Struggles Before Purchasing A Home, And Posts Are Eye-opening
It's a well-known fact that millennials have an especially difficult relationship with the real estate market. What's more, not being able to afford the cost of one, they don't exactly have one.
When people born after World War II (well known as baby boomers) and Gen X reached their thirties, rapid development and suburbanization gave somewhat affordable options for housing. Left for them, some part of the American dream was to purchase a house.
But looking at it, the possibility is baffling, and without a doubt, renting an apartment always happens to be the only choice. Twitter user, Josh Kruger, who is a Philadelphia-based writer and commentator, is the one who began this thread.
He requested that house owners share how they could afford to pay the cost of the initial down payment and the home’s closing costs. The writer of the thread additionally shared that he managed to get his own home, and he also added that his father covertly kept a few life insurance policies for him in a document.
He could only open it when he passed away, and it covered the downpayment and closing costs for his home. Josh finished up in one more post, saying that only a couple of choices made by his father and destiny gave him the capacity to purchase it.
1. Buy a 2-4 unit building
mrjeffhead2. Followed by this...
@JoshKrugerPHL3. Stay out if expensive metros
BeezyManzell4. I was able to do the savings involved
M_Hargrove5. Got mine through a first time homeowners program
Guavah_Go6. We don't shy away from that fact
mskelleyware7. Stock from one of my first jobs
dennisnahas8. It gets pretty intense
SFDenyse
9. We emptied our savings along with other things
janakg5
10. My wife and I were able to save up
mrncorbett
11. The calculations are endless
imchristiepitts
12. Saved up for down payment
FinFanTragedy
13. My company's stock price exploded over the years
erich_owens
14. Look into the NACA program
AtCarrieG
15. Through a first time homebuyers program
E_Fish
Read this brutally honest thread on Twitter where youngsters share what it cost them to become one of the rare millennial house owners.
16. From a 401k loan
KHJ_Esq
17. Made it possible without outside help
PhDBee
18. Mine was 100% generational wealth
Julephenia
19. From the original thread writer himself
JoshKrugerPHL
20. Bought a fixed upper
SCWKorsgaard
21. Here's my own story
jefgodesky
22. We qualified for a low income grant
RandyLoBasso
23. The start off thread
@JoshKrugerPHL
24. Such a touching story
nienna121
25. Almost everybody had a little help
CrystalMarieCom
26. My parents gave us the down payment gift
The_Same_Device
27. Got a full time job for $20 an hour
speakwright
28. I was my dad's Life insurance policy benefactor
babbymd
29. We'd be priced out forever
RMWhaley
30. My wife and I were able to save up
Angststern
31. Bought a home in Ypsilanti
cathey__amber
32. Purchased mine with my parent's support
ChemistTom
Truth be told, particularly in this unsure economy, not many millennials have the funds to bear the cost of a house. It is only in extremely exceptional conditions that you see a millennial who owns a house, and they might get it through different means like stocks from school, heritage, etc.
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