Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

This is what the average American’s dream home looks like

06/08/2018

Download PDF

According to a survey conducted by Digital Third Coast, 75 percent of Americans believe homeownership isn’t necessary to “live a good life.” But that doesn’t stop them from dreaming about their perfect pad.

Sixty percent of respondents said they’d prefer a new build that’s a little more than 2,000 square feet, which leaves plenty of room to entertain guests in a family room — the space that’s most likely to be used (according to 46 percent of respondents).

When it comes to location, it was ‘burbs or bust for millennials, while boomers planned to retire by the beach. Lastly, Gen-Xers preferred the privacy of country living.

Overall, survey takers were willing to spend an average of $1.3 million to snag their dream home, but millennials, in particular, were open to spending an extra $200,000 to get the job done.

For those who said they already have their dream abode, 51 percent live in the suburbs, and 49 percent live either in the city or a rural area. Most of their homes are smaller too, with 42 percent saying they live in a space no larger than 1,400 square feet.

The majority of dream homeowners earn anywhere from $30,000–50,000 per year (26 percent) and are married (nearly 60 percent).

How to prep a home for a top-dollar sale A basic spruce-up makes your listing much more attractive READ MORE

Although 75 percent of respondents said homeownership isn’t a necessity, 64 percent said they’ll be able to own or rent their dream home within their lifetime.

Methodology

The survey was conducted using the Amazon Mechanical Turk platform to survey 2,000 Americans from all parts of the country across as many different age groups as we could find to try and learn more about their views on homeownership and what their ideal dream home would look like and how much they’d pay for it. The survey included multiple choice and open-ended questions. The main qualifying questions for surveyed respondents was that they either owned a home currently or were looking to purchase a home within the next five years. 

For the average listing price data we asked the surveyed respondents what they would be willing to spend and were given the following ranges to choose from (Less than $100,000; $100,000-$150,000; $150,000 – $250,000; $250,000 – $450,000; $500,000 – $1 million; $1 million – $5 million; $5 million – $15 million; $15 million – $30 million; More than $30 million) and then within those ranges were asked to give a specific price as a separate response. From there we took the average of those responses to generate the average price.

Email Marian McPherson.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...