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Dogs are top driver for millennial home buyers

Photo by Tikkho Maciel on Unsplash

A recent poll indicates millennials may be highly motivated by their furry friends to take the home-buying plunge. Small or non-existent yards for dogs, pricey pet rent fees and breed restrictions can all be major factors in the decision of many millennials to explore home-ownership. Homes that offer deluxe amenities for dogs can be major pluses for millennials who may be choosing to postpone or forego having children, opting for a pet instead. 

Nicole Spector | NBC News

Millennials are now leading the pack of home buyers, and what’s one incentive driving them to take the mortgage plunge? Their dogs.

recent survey conducted by Harris Poll on behalf of SunTrust Mortgage found that 33 percent of millennial home buyers’ decision to buy a home was driven chiefly by their dog. Furry friends outranked wedding bells (25 percent cited marriage as their top motivator for buying a home) and kids, too (only 19 percent said birth of a child was their prime incentive).

And even those millennials who don’t yet own a home but are planning to are prioritizing pups, with 42 percent of those surveyed by SunTrust saying a dog — present or future — is a key factor in their home purchasing decisions.

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