Buying a home results in feeling adult

In a study by U.K. firm Fly Research, they found that most millennials don’t feel like an adult until age 29. That's 11 years after being able to vote, enlist and drink legally. The top reason for not feeling like an adult beforehand is not owning a home.

The top 10 reasons to feel like an adult are as follows:

1. Buying a home — 64%

2. Having kids — 63%

3. Marriage — 52%

4. Having a pension — 29%

5. Being in charge of your home's appearance — 22%

6. Life insurance — 21%

7. Getting excited about staying in for the night — 21%

8. DIY work — 18%

9. Being a dinner party host — 18%

10. A joint bank account — 17%

Another study about millenials found that walkability was a top priority for these young home-buyers. According to a recent poll conducted by the National Association of Realtors and the Transportation Research and Education Center, 83% of home buying millennials liked to walk while only 71% like to drive. This 12 percentage point difference is a lot wider than other demographic groups, for instance the spread for baby boomers is only 2% between walking and driving. When millennials are not walking they’re probably taking transit—40% of millennials take transit, compared to 28% for Gen-X and 19% for baby boomers.

 

 

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