30 Times Millennial House Owners Shared Their Struggles Before Purchasing A Home, And Posts Are Eye-opening

The American dream is to purchase a house but how possible is that for millennials?

Maryjane

• Published in Interesting
• April 8, 2022

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

2. Followed by this...

3. Stay out if expensive metros

4. I was able to do the savings involved

5. Got mine through a first time homeowners program

6. We don't shy away from that fact

7. Stock from one of my first jobs

8. It gets pretty intense

9. We emptied our savings along with other things

10. My wife and I were able to save up

11. The calculations are endless

12. Saved up for down payment

13. My company's stock price exploded over the years

14. Look into the NACA program

15. Through a first time homebuyers program

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

17. Made it possible without outside help

18. Mine was 100% generational wealth

19. From the original thread writer himself

20. Bought a fixed upper

21. Here's my own story

22. We qualified for a low income grant

23. The start off thread

24. Such a touching story

25. Almost everybody had a little help

26. My parents gave us the down payment gift

27. Got a full time job for $20 an hour

28. I was my dad's Life insurance policy benefactor

29. We'd be priced out forever

30. My wife and I were able to save up

31. Bought a home in Ypsilanti

32. Purchased mine with my parent's support

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.

Drop your thoughts about this post in the comments.

Maryjane