(NAPSI)—For 71 percent of Americans, homeownership is part of their personal American Dream. So what does this dream home look like? Where is it located and what amenities do people dream of most? A recent survey conducted by real estate website Trulia made some intriguing discoveries.
First Comes Marriage, Then Comes Baby and House
The vast majority of millennial renters, aged 18 to 34, plan to buy a home one day—more than any other generation. Most, however, are not ready to buy a house. This generation of first-timers was hit hard during the recession and their ability to find jobs, move out of their parents’ homes and eventually become homeowners is a key part of a healthy housing market. Only 36 percent are currently saving up to buy a home in the next five years. Most have their eyes on a new car. Nevertheless, 87 percent believe they’ll be able to buy their dream home one day.
Americans Aren’t Dreaming of McMansions or Tiny Homes
So what does the American dream home look like? Well, it really depends on how old you are.
In general, Americans aren’t big fans of McMansions or tiny homes. In fact, 44 percent want a home between 1,401 and 2,600 square feet. However, as people get older, their dream home gets smaller.
Millennials and Gen Xers gravitate toward modern houses, which often have newer amenities and technologies. Baby boomers, on the other hand, want single-story ranch homes that are more accessible.
Only 6 percent of millennials would prefer a high-rise penthouse and only 4 percent dream of converted lofts.
Americans Dream of Suburbs
Most Americans—especially boomers and Gen Xers—wanted to live in the countryside and suburbs rather than a major city. For millennials, a short commute to work and a great school district were far more important than the actual location.
Dream Home Amenities
Americans love to entertain and eat. The top dream home features a backyard deck, open floor plan or balcony with a view. Food-related amenities such as a gourmet kitchen or vegetable garden were also popular.
Millennials, compared to any other generation, want it all. Given the option, 18- to 34-year-olds, would like all the latest and greatest amenities in their dream home—especially a balcony with a view.
However, Generation X, 35-54-year-olds, wanted a backyard deck most and would prefer a swimming pool over a vegetable garden.
Baby boomers want a backyard deck, open floor plan, gourmet kitchen and vegetable garden.
Whatever kind of home you’re dreaming about, you can discover new homes for sale across the country, get tips on how to buy and sell, or find a real estate agent from Trulia, the all-in-one real estate site at www.trulia.com.
On the Net:North American Precis Syndicate, Inc.(NAPSI)