Inside the investment portfolio of a millennial homeowner

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  • Chase Hudgens is a 30-year-old business-development rep at IBM who contributes about $500 a month to his 401(k) and over $20,000 a year to two brokerage accounts.
  • He recently paid off a large student-loan balance and bought a home that he expects to appreciate in value by 5% every year.
  • Hudgens said paying off his debt enabled him to become a homeowner and invest more aggressively.
  • His goal is to become a millionaire by age 35.
  • Start investing today with SoFi »

Chase Hudgens didn’t come to investing easily.

The 30-year-old Georgia native graduated from college in 2012 with about $50,000 in student-loan debt. He had little guidance on how

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Millennial homeowners have done the most home improvement projects during extra time spent in the house

Millennials are getting handier around the home since lockdown measures began, according to new research.

In fact, a poll of 2,000 homeowners found that compared to other generations, millennials have been the busiest, with 81 percent having tackled a home improvement project since March.

Conducted by OnePoll in conjunction with Bernzomatic, a manufacturer of handheld blowtorches, the survey examined the various home improvement projects American homeowners completed while stay-at-home orders have been in effect — and looked at why they’ve taken them on.

SWNS

For 65 percent of those polled, a project was done to save money while 49 percent simply needed something to keep themselves busy while being in lockdown.

Overall, the average homeowner has already attempted four different home improvement projects since March — guesstimating a savings of over $160 just by trying a project themselves.

All this, without the help of an outside contractor (47 percent opted

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Millennial Money: Home costs don’t stop at a down payment | Lifestyles

— PAY CLOSE ATTENTION TO THE HOME INSPECTION. “Leaking roofs, mold, electrical and plumbing issues are the mostly commonly noted concerns on an inspection report,” says Day Coker, owner of AC by Day C, an HVAC maintenance and repair company based in High Point, North Carolina. If the inspection turns up issues, negotiate with the seller to either repair them or lower the selling price.

— FIND OUT THE AGE OF MAJOR APPLIANCES. When you can estimate how many years an appliance has left, you can save up for its replacement.

— CREATE A REPAIR FUND. Aim to save around $5,000, says Chelsea Lipford Wolf, co-host of the “Today’s Homeowner” TV show and creator of “Checking In With Chelsea,” a home improvement blog and video series. “That would cover most home systems that you would need to repair to keep your house running.”

2. YOU’LL WANT TO MAKE YOUR HOUSE

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