The American Dream: go to a good school, get a high-paying job, buy your own home, and get married and have a family. While purchasing a home is many people’s “American Dream”, what does the American Dream Home really look like? Is it modern or traditional? Rural or urban? White picket fence, perhaps an herb garden? Trulia, a residential real estate marketplace, conducted a study on 2000+ Americans to find out their homeownership aspirations and ideals. Ranging from Millenial to Generation to Baby Boomers, the results were diverse and sometimes not what you’d expect…
Who Wants To Become A Home Owner?
Most Millenials, 18-34 years olds, plan on purchasing their own home one day–more than any other generation! This one surprised us.
What Types Of Families Want To Buy A Home?
Interestingly, those who are single with children had a higher response rate than those married with children. As marriage ideals are changing, and couples are delaying or refraining from marriage altogether, it seems that purchasing a home is becoming more of a lifestyle choice rather than an expected landmark.
When Do Millenials Plan On Buying?
On average, 2018 or after. Why not sooner? Money. Millenials were hit hard by the recession and have found it much harder to find jobs than the previous generation. The majority of Millenials are currently saving to buy a car or pay for college tuition, and plan to purchase a home down the line.
How Big Is The American Dream Home?
The younger the person, the bigger the house. But overall, not too big and not too small…somewhere right in the middle. The dream!
What Style Is The American Dream Home?
Baby Boomers prefer Ranch-style homes, simple and accessible being single story with no stairs. Gen X and Millenials really dig Modern homes, which are more likely to have advanced amenities and an aesthetic that matches their design taste. Surprisingly, only 4% of Millenials dreamed of purchasing a high-rise penthouse home.
Where Is The Home Located?
Across the board, settling down in a bustling city was not part of the dream. 27% of Americans would prefer to live in the countryside, and another 27% in the suburbs. This was mostly true of Baby Boomers and Generation X. The results also showed that people’s geographical location in the U.S highly influenced the scenery they’d prefer to settle down in.
What Amenities Are In The Dream Home?
The Rental Girl LOVES to eat and have parties. Apparently the rest of America does too. Turns out the majority of amenities people look for in their dream home are social spaces based around eating and entertaining. While each generation had a specific top-ranked amenity, Millenials compared to other generations would have all amenities if given the choice: Deck, Balcony, Garden, Pool and Gourmet Kitchen. Cue eye-roll from Boomers and Gen X…
Overall, Americans are pretty reasonable about their dream home, and all in all want something mid-sized and modern, in the suburbs with a backyard deck. Sounds like an attainable dream, right? Having children is definitely a driving factor for people to purchase homes sooner, however it still appears that today’s generation still holds homeownership as a valuable part of the American Dream. To read the original Trulia article and get all the stats, click here!
Are you in the market for your dream home? The Rental Girl can help you. TRG Realty Inc. is the parent company of The Rental Girl, and features our “For Sale” listings, as well as advice to buyers and sellers in the real estate market. Each of our agents is an expert in her neighborhood, and can help guide you to the best neighborhood in Los Angeles for you and your family. Head over to TRG Realty and we’d to love to help you find your own American Dream Home!
The Rental Girl