Fiscally conservative Millennials willing to pay more than the cost of down payment protection to protect their assets

Like many young generations before them, today’s Millennials have received their fair share of critique. They are often accused of being fickle, entitled, and allegedly they live in their parents’ basement.

Amidst the negative press, one virtue that has been consistently credited to Millennials is their maturity and savvy with managing their money. After witnessing their parents or other boomers in their lives lose homes, jobs or even all retirement savings, Millennials are very cautious with their investments and spending. In fact, Millennials have been called the most fiscally conservative generation since the Great Depression.

One investment Millennials appear most cautious about is a home purchase. It is not surprising as buying a home continues to be the single biggest purchase most Americans will make in their lifetime. According to ValueInsured’s Modern Homebuyer Survey conducted by Nielsen Harris Poll in October 2015, 90% of all Millennial renters in America today would like to one day become a homeowner, but one third are nervous they could lose their down payment savings. True to their fiscally savvy reputation, 76% of all Millennial renters said they would purchase down payment protection if they decide to buy a home today.

Over half of all Millennial renters surveyed said they are willing to pay $25 or more per month for down payment protection. 7 out of 10 are willing to pay $10 or more per month for this reassurance that their hard-earned savings would be covered in the event of a housing downturn.

Considering that the cost of +Plus down payment protection could be as low as $3 per month, and no more than $10 per month in most parts of the country when a buyer puts 20% or less down on a $400,000 home, down payment protection has proven to be an affordable solution for even the most fiscally conservative Millennial.