New Survey Data Shows The Average Cost Of Americans’ Dream Home
Do these results line up with what you want?
If you could describe your dream home in three words, what would they be? New, spacious and modern? Or how about comfortable, cozy and quiet?
Illinois company Northshore Fireplace surveyed 2,000 people to see just how they would describe their dream home. From the number of rooms to location and their most desired luxury, the results are giving us a peek at how fellow Americans would live if given the chance.
Not surprisingly, Baby Boomers, Gen-Xers and Millennials differ in tastes, but all agree that a view, plus peace and quiet and privacy, are the most important features of any home. But while Baby Boomers want to live on the beach and Gen-Xers in the country, Millennials don’t mind the suburbs and would actually prefer to live there.
The survey also revealed that while tiny homes may be increasing in popularity, when it comes to where people actually want to live, bigger is better. The average desired square footage is around 2,000, and the number of rooms wanted is 7.5. Those surveyed also prefer a new home instead of having to renovate an old one.
Perhaps surprisingly, where the home is isn’t as important as the home itself, with only 15 percent saying that proximity to good schools was important and only 11 percent caring about entertainment and nightlife.
Price is also not a factor when simply dreaming about a home. While 20 percent of Millennials say they get anxiety when it comes to owning a home, the average listing price for their dream home sits at $1.5 million. The rest of those surveyed aren’t too far behind, with the average cost coming out to $1.3 million. While that might seem a bit out of reach for most of us, 64 percent said they believe they will be able to obtain their dream home in their lifetime.
Of course, there are some of us who already have our dream home. Of those, the majority live in the suburbs and have less than 1,400 square feet of space. In fact, only 18 percent who say their current house is their dream home have more than 2,600 square feet.
All in all, the three words used most by those surveyed were comfortable, cozy and spacious. Do you agree with the survey results or would you prefer a smaller home near exciting entertainment options?