What do you know? Millennials are now leading the pack of home buyers!
A recent survey conducted by Harris Poll on behalf of SunTrust Mortgage discovered very interesting results.
They found that 33% of millennial’s decisions to buy a home were driven chiefly by their furry friends, while 25% cited marriage as their top motivator and 19% decided to buy a home for their kids.
What’s going to surprise you even more is that 42% of the people who don’t have pets of their own said that pets would be a “key factor” if they were to buy a property in the future. (In case they decide to adopt a pet).
One-third of millennials who bought their first home explained that it’s because of their pets. Yes, they want more living space for themselves; the more space, the more privacy. But also, their beloved pets would have more freedom to run around in a bigger place.
Most importantly, having a pet is still cheaper than kids, in a millennials’ opinion. It’s also easier to provide love and care for pets, which coincides with millennial trends on having a pet baby rather than a human baby!
“Millennials have strong bonds with their pets, so it makes sense that their furry family members are driving home buying decisions,” said Dorinda Smith, SunTrust Mortgage President and CEO, according to Insider. “For those with pets, renting can be more expensive and a hassle; homeownership takes some of the stress off by providing a better living situation.”
As you can see from surveys and interviews with pet parents, pets definitely have more influence on home buying than any other human counterpart. But you shouldn’t be surprised! These cuties weren’t referred to as “a man’s best friend” for nothing!
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