House Before Spouse: How Millennial Women Are Reshaping Traditional Values

Long gone are the days of traditional concepts of relationships; millennial women are defining their standards on their own terms in both the professional and personal realms. Instead of feeding into societal norms that present unrealistic expectations, millennial women are reshaping what it means to live by their means.

Marriage, a house, and a baby carriage, in that order, is no longer the standard that millennial women subscribe to. Unlike their predecessors, the idea of marriage isn’t a priority or ultimate goal. In many ways, buying a home with a partner presents a commitment equivalent to marriage, as the arrangement is on paper.

With the economy and inflation living together with a partner makes perfect sense; from the likes of rent, groceries, gas, and pretty much everything else you need to survive being spiked in price, having someone to lessen the load could be considered a godsend. Buying a home takes away the stress of increased rent every year and moving; additionally, purchasing a home is a big move, and having something you own, with a partner, is a commitment and a symbol of intention for longevity.

According to Fortune, in October 2023, mortgage rates peaked at 8%, a two-decade high, and have since dropped to 6.34%. Elevated home prices across the U.S., along with consumer challenges associated with an inflationary period, have made homeownership the least accessible it’s been in decades, particularly for younger generations. Home prices are up about 50% in the past five years, according to the Case-Shiller Home Price Index.

Though buying a home with a partner before marriage for millennial women doesn’t seem like a big deal, legally, it can be a risk. According to Business Insider, if the relationship ends, there could be mortgage and legal fees involved with taking a person off the mortgage or home deed. And ultimately, if the home is sold, the pair would split the loss.

As an alternative, Spokane Journalsuggests is to create a legal entity, such as an LLC, to hold the property and in which both individuals are members. But don’t forget to draft an operating agreement, too, which would head off issues in case of a breakup.

According to Thought Catalog, millennials, generally speaking, are turned off by the idea of divorce. Some Generation Y individuals grew up in single-parent homes or juggled the balance of living between divorced parents. The economic, emotional, and relational implications of divorce are enough to make millennials want to find that sense of certainty before walking down the aisle. If that means taking 10 more years to find it, then so be it.

Another factor that millennial women have is education. Higher education brings enlightenment, empowerment, and engagement. These essentials allow for a wider perspective and opportunities professionally that can shape one’s thoughts on marriage. So instead of getting married and being a stay-at-home wife building a family (which is perfectly fine), driven millennial women would rather build an empire.

Ultimately, millennial women are paving their own way, despite the baby boomer footsteps that came before. By creating a new path, they are adapting to circumstances that generations before didn’t have to. Though some millennials do still hang onto traditional values, they are reshaping what their lives could be and look like. This is a testament to millennials as a generation, as professionally, millennial women have created their own lanes as entrepreneurs, proving that they can be bosses and live the lives they desire.