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Survey finds Tennessee millennials are over paying rent, seek home ownership


81% of Tennessee millennial home buyers will seek financing and 65% plan to spend between $100,000 to $299,999 on a home. AAA advises those seeking mortgage financing to start looking and doing research now, before the spring real estate market heats up.


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NASHVILLE, Tenn-- Auto club group AAA is now in the home loan business and a recent survey conducted by the organization shows Tennessee millennials are over paying rent.{\/p}In a AAA Consumer Pulse survey, 45% of millennials report 'renting fatigue' as the primary reason they are looking to become home owners.{\/p}The second most-cited reason was to move to a better neighborhood (37%), followed by wanting to start a family (25%).{\/p}81% of Tennessee millennial home buyers will seek financing and 65% plan to spend between $100,000 to $299,999 on a home.{\/p}AAA advises those seeking mortgage financing to start looking and doing research now, before the spring real estate market heats upAAA also says to seek pre-approval before entering the market to give buyers an advantage when making an offer on a home.{\/p}As for the important of interest rates to millennials, AAA say to also pay attention to additional costs like application fees, insurance fees, and attorney's fees that could 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