30 Times Millennial Homeowners Shared Their Struggles Before Purchasing a Home, and the Posts Are Eye-Opening
The American dream is to purchase a house, but how possible is that for millennials?
Millennials have spent years hearing that homeownership is the goal, but for many, the math has never cooperated. Rising prices, closing costs, and down payments have turned a basic milestone into a major obstacle.
That tension is exactly what sparked this thread, after Twitter user Josh Kruger asked homeowners how they managed to cover the upfront costs of buying a house. He also shared that his own purchase was possible because of life insurance policies his father had quietly kept in place for him.
The replies show just how many different paths people take to get the keys, and how much luck, family help, and timing can shape the outcome. Some of them are pretty surprising.
1. Buy a 2-4 unit building
mrjeffhead2. Followed by this...
@JoshKrugerPHL3. Stay out of expensive metros
BeezyManzell
4. I was able to manage the savings involved
M_Hargrove
5. Got mine through a first-time homeowners program
Guavah_Go
6. We don't shy away from that fact
mskelleyware
7. Stock from one of my first jobs
dennisnahas
8. It gets pretty intense
SFDenyse
9. We emptied our savings along with other resources
janakg5
10. My wife and I were able to save up
mrncorbett
11. The calculations are endless
imchristiepitts
12. Saved up for the 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 the OP considering a solo decision.
16. From a 401(k) 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 fixer-upper
SCWKorsgaard
21. Here's my own story
jefgodesky
22. We qualified for a low-income grant
RandyLoBasso
23. The starting thread
@JoshKrugerPHL
24. Such a touching story
nienna121
25. Almost everybody had a little help
CrystalMarieCom
26. My parents gave us a 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 beneficiary
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 parents' support
ChemistTom
Truth be told, particularly in this uncertain economy, not many millennials have the funds to afford a house. It is only under extremely exceptional conditions that you see a millennial who owns a home, and they might acquire it through various means such as stocks from school, inheritance, etc.
Drop your thoughts about this post in the comments.
Before you decide, read the WIBTA dilemma about lending money to parents in crisis: refuse or help?
