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October 03, 2017

Millennials Buy Homes for Their Best Friends

Homeownership

One–third of Millennials had their best friends at heart — dogs, that is — when deciding to buy their first homes. According to an online survey conducted by Harris Poll on behalf of SunTrust Mortgage, only wanting a bigger home and to build equity rather than pay rent to someone else scored higher.

Here's how the Top 5 rounds out

  1. Gain more space – 66%
  2. Build equity – 36%
  3. Give Max or Bella (the most popular dog names in 2016, according to the American Kennel Club) more room and/or a yard – 33%
  4. Got/Getting married – 25%
  5. Had/Having a baby – 19%

Looking ahead, 42% of Millennials who haven't yet bought homes responded that owning or wanting to own a dog would be a big factor in their homebuying decisions.

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