Young homebuyers are twice as likely to use family money for a down payment as they were five years ago, according to a new report from Redfin. In fact, 36% of Gen Zers and Millennials who plan to buy a home expect to receive support from family to help fund their down payment.
An additional 16% of Gen Zers and Millennials say they’ll use inheritance money as a down payment, and 13% plan to live with their parents or other family members to help save for a down payment on a house.
