Most Americans have a clear idea of what they want their dream home to be like — and it doesn’t involve living large or in a trendy tiny home. That’s according to a recent online survey conducted by Harris Poll on behalf of Trulia, which surveyed 2,026 Americans in late May 2015. The goal of the survey was to find out about their homeownership aspirations and the home they hope to buy one day.
The study found a majority of Americans are still looking for the perfect place to call home. In fact, only 35% of homeowners who responded to the survey said they’ve already purchased their dreams.
So, what is America’s dream home? Well, that depends on how old a person is, according to Trulia.
Most Americans are not interested in huge mansions. In fact, almost half of the respondents (44%) said they want a home between 1,401 and 2,600 square feet – one that’s neither too small, nor too big. However, as people get older, their dream home gets smaller.
|How Big Is Your Dream Home?|
|All||Millennials (18-34 Year Olds)||Gen X (35-54 Year Olds)||Baby Boomers (55+ Year Olds)|
|800-1,400 square feet||10%||5%||7%||15%|
|1,401-2,000 square feet||21%||17%||18%||25%|
|2,001-2,600 square feet||23%||20%||24%||24%|
|2,601-3,200 square feet||14%||16%||15%||11%|
|More than 3,200 square feet||11%||12%||14%||7%|
Thinking about purchasing your dream home? Find out how much you can afford using the Castle & Cooke Mortgage Affordability Calculator.