Wanna be Roomies?
Roommates are not just for college dorms or big cities. According to the census, more and more American adults are moving in with people with whom they are not romantically involved. The rise in shared living during and immediately after the recession was in big part due to millennials moving back in with their parents. But more recently, parents are moving in with their adult children and friends are moving in with one another to help cover the mortgage.
According to an article on Realtor.com, “last year, nearly 79 million adults or 32% of the adult population lived in a shared household. That’s defined as a household with at least one extra adult who is not the household head, the spouse or unmarried partner of the head, or an 18- to 24-year-old student.” This is an increase from 29% of the population in 1995. In fact, for the first time in the recordable history, American adults between 18 and 34 are more likely to live with their parents than with a spouse or partner in their own place.
With this shift in our culture, we may find that it leads to more singles purchasing homes then have their friends to move in with them to cover the costs or just to share in the upkeep! If you have held off on buying a home because you aren’t currently in a romantic relationship—don’t let that keep you from achieving your dreams! Find out how much you qualify for by reaching out to one of our loan officers at 1-888-914-2276.