Real Cost For First Time Buyers [Infographic]

Let’s be honest: the recession that hit the U.S economy only a few years ago hit us all pretty hard. This truth is especially evident for the generation of young adults who recently graduated from colleges across the country—many of whom left their schools with unimaginable amounts of debt and few jobs available to them to take advantage of.

As a result of the recession, the U.S. has seen a significant increase in the amount of young adults moving back home to live with their parents after graduation. But despite these facts, very real solutions exist that can help those individuals looking for a way to move out of their parents’ basement and into their first homes.

In the following infographic, we’ll provide information on the generation that has decided—by choice or not—to move back into their parents’ homes. We’ll also shed light on the barriers that exist that are preventing young adults from purchasing and moving into their first homes. Finally, we’ll provide recommendations on what an individual needs to do in order to get a few steps closer to owning their first home.

Infographic by: Lending Expert Blog