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Millennials Prioritizing Homeownership Over Marriage

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For an increasing number of millennials, the decision to become first-time homebuyers first, and married couples second, is by far the better strategy. The trend is entwined with another big social shift: the growing proportion of couples choosing common-law partnerships over legal marriage. According to Statistics Canada census data, by 2011, common-law couples/families comprised 16.7% of families in Canada, a growth of 13.9% since 2006.

The 2018 Fall Homebuyer Insights Report from Bank of America shows that 72 percent of millennials continue to approach life differently than generations before them as they prioritize life differently. Millennails value homeownership over almost everything else including marriage (50 percent) and having children (44 percent).

Millennials are showing a higher likelihood than previous generations to prioritize homeownership before marriage, according to a new survey conducted by The Harris Poll for SunTrust Bank. The study, which polled more than 2,000 adults, found that 48 percent of millennials who have been married said that they and/or their spouses owned a home.

Bank of America reveals that 70% of Millennials are now prioritizing homeownership above other major life milestones, including starting a family.

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One, they’re putting off getting married, which many still see as a prerequisite to homeownership. (Though a large chunk of millennials, I should note, instead view homeownership as a prerequisite to.

When it comes to millennials and goals, you may be surprised at what they actually list as their top priority. When asked about life priorities, millennials name homeownership as their second-highest goal behind retirement-and before marriage and having children, according to Bank of America’s 2018 Homebuyer Insight Report. An impressive 72 percent of millennials say owning a home is their top priority, while 50 percent pointed to marriage and 44 percent to having children.

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When asked about life priorities, millennials name homeownership as their second-highest goal behind retirement-and before marriage and having children, according to Bank of America’s 2018 Homebuyer Insight Report. Seventy-two percent of millennials say owning a home is their top priority, while 50 percent pointed to marriage and 44 percent.

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