The Millennial Choice: Buy a Home or Pay off Debt

It’s a tough decision.

Doing both may seem impossible.

Roughly 25% of millennials hold student debt. Those with a 4-year degree hold an average debt of $25,000; other hold more, sometimes more than $100,000.

This level of financial stress effectively blocks home ownership, denying them the long-term stability leading to wealth creation.

While studies prove a college degree offers job stability, higher earnings, and even a longer life expectancy, over 80% of those between ages 22 and 35 with school debt confirm that debt restrains them from purchasing a home.

According to the New York Fed, the more school debt you carry, the less likely you’ll own a home. Sadly, that trend is unlikely to change anytime soon.

Although the vast majority of millennials say they’d like to purchase a home, most are about a decade away from having the savings to do so, according to 2017 data from Apartment List.

How can both be accomplished?

We can show you how.

Contact us to schedule your “I can’t believe it’s true!” appointment.

 

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