About 33% of the millennial population is driven by their pets to choose and buy a home , according to a survey conducted by Harris Poll.
Millennials from ages 18 to 36, who do not own a home yet, are planning to buy homes for their dogs as 42% of those surveyed noted that their animal companions are the main reason why they are looking at houses.
“Millennials have strong bonds with their dogs, so it make sense that their furry family members are driving home-buying decisions,” Dorinda Smith, SunTrust Mortgage president and CEO, said in a statement. “For those with dogs, renting can be more expensive and a hassle; home ownership takes some of the stress off by providing a better living a situation.”
American Pet Products Association reported that about 73% of millennials own a pet, while 89% of those who recently bought a house last year own a pet.