Millennial homeownership has been off to a slow start. Roughly one in three millennials under the age of 35 own a home as of the end of 2018, according to the U.S. Census Bureau. That’s 8 to 9 percentage points lower than previous generations’ home ownership rates at ages 25 to 34, according to research from the Urban Institute’s Housing Finance Policy Center.
Yet many of the younger people lucky enough to own a place still suffer from buyer’s remorse. Nearly two-thirds, or 63 percent, of millennials (ages 23 to 38) say they have regrets about purchasing their current home, according to a new poll of about 1,500 homeowners from Bankrate.
Only 35 percent of baby boomers (ages 55 to 73) say the same, while about 50 percent of Gen-Xers (ages 39-53) cop to some remorse.
Underestimating the hidden costs associated with buying and owning a home, including