Love is in the air, but the old saying “first comes love then comes marriage” doesn’t identify the latest trend in homebuyers. In fact, according to a recent analysis by Zillow, more young homebuyers today are unmarried couples. Even though overall 75% of all homebuyers are in a relationship, 15% of homebuyers aged 24-35 are unmarried couples. Zillow also reports that the majority of homebuyers hunted for a house the purchases with the help of a significant other.
Buying a home is a big part of the American Dream—equally shared by millennials and baby boomers alike—but it's becoming more difficult to make it work on a single income. That makes buying a home with a significant other even more appealing, even if marriage isn't quite part of the picture. Simply put, buying a home is much easier with two incomes. Assuming home value growth continues to outpace income growth.
Other studies have indicated similar shifts away from conventional milestones related to homeownership. One report reveals 25 percent of married millennial couples purchased their home together before their wedding day.
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