Buying a house for their pet? No way
Why begin to consider buying a home? Marriage? Baby on the way? Family growing? Well, not exactly for millennials. The largest generation in US history is actually delaying tying the knot and starting a family, but that doesn’t mean they’re not jumping on the homeownership train! A survey amongst young homebuyers showed that the THIRD most popular reason for buying a home was needing space and a backyard for a dog, outranking marriage and kids!
The Truth About Buying a House for your Pet
And look, I’m sure we can all agree that these pups deserve it! A downtown apartment just won’t do for these kings and queens. 7 in 10 male millennials and 3 in 5 female millennials are pet owners and 42% say these furry friends will be a driving factor for homeownership – whether now or in the future.
Millennials are turning to their dogs for comfort, love and purpose and have a burning desire to create a welcoming space for their family member. In 2020, Americans spent $103.6 billion on things like food, leashes, toys and vet care. It’s clear that millennials are not afraid to spend money on their besties. 76% say they would happily buy splurge on items like treats or a comfy bed for their pet. Why not a house?