Buying a home represents a significant financial investment for people in Florida and elsewhere around the country. It is also a decision that a person may only make a few times in his or her life. One of the primary considerations an individual may need to make when buying a home is how large it should be. Generally speaking, larger homes cost more and may require more time and money to maintain.
To some people in Florida and throughout the country, marriage may seem like a bigger commitment than buying a house. However, this may not necessarily be the case. For example, it may be possible to return a ring or get a refund on a wedding if someone backs out. That is generally not the case if buying a home doesn't work out as planned.
Millennials living in Florida are not putting off their home purchases because of an affinity for avocado toast. In many cases, young people are choosing to pay off their student loans or other debts before they decide to go into debt buying a home. In fact, only 39 percent of millennials are able to afford the 20 percent down payment that is generally required for a traditional mortgage.