Online Survey Shows Split In Funding Home Down Payment
Are you looking to purchase a home with your significant other? According to a new survey by NerdWallet, a personal finance website, 41% of couples reported that they each put up roughly half of the down payment. That's a far cry from the days when a main breadwinner usually paid the lion's share.
The online survey, conducted by the Harris Poll midway through 2016, examined the sources of home down payments, as well as common disagreements and fears that may have plagued buyers. The respondents included more than 2,000 adults age 18 and older.
Other highlights of the survey:
- 11% of women contributed all of the down payment or more than their partner did.
- Homeowners needed to save an average of three years before buying their current home.
- One in four homeowners saved money monthly to put toward the down payment.
- 42% of millennial homeowners (age 18 to 34) saved monthly for a down payment when they purchased their current home, while only 29% of Gen X homeowners (35-54) did the same.
- More than half (52%) of millennials needed to save money before purchasing their current home.
- More male homeowners needed to save before buying a home (47%) than females (32%).
© 2017. All Rights Reserved.
- Swap Munis To Your Tax Advantage
- This Type Of Trust Is A Failure
- What Are The Main Items On Trump's Tax Reform Agenda?
- Tune Into The Tax Break For NUA
- Retiring Abroad? Be Ready To Take The Bad With The Good
- Tax Rewards For Charitable Trusts
- Why Would You Take Your RMDs Sooner?
- Set Aside The Funds You Might Need For A Rainy Day
- Easier Rules On IRA Rollover Waivers
- Tax Rewards For Year-End Generosity
- 4 Year-End Strategies For Investors
- Locate A Tax Shelter Near A School
- Seek The Comfort Of A Pet Trust
- What Would You Do For A Bigger Salary Or More Benefits?
- Tie The Knot For Retirement With A Spousal IRA