The concept of the “American Dream” has long been associated with homeownership, and a recent survey conducted by Lombardo Homes sheds light on what the perfect home looks like for Americans across generations. The study, which surveyed over 900 individuals, reveals fascinating insights into the preferences, trends, and aspirations surrounding the ideal dream home.
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Building vs. Renovating:
A significant majority of Americans (69%) express a preference for building their dream homes from scratch rather than renovating an existing property. This desire for a custom-built home reflects the importance of personalization and the freedom to create a living space that perfectly aligns with one’s vision.
Dream Home Specifications:
According to the survey, the average American dream home boasts 3.8 bedrooms, 3 bathrooms, and an impressive 4,599.5 square feet of living space. Key features that top the list of must-haves include a large kitchen, a spacious backyard or desirable property, and a prime location. Proximity to good schools (56%), shopping (79%), and entertainment or nightlife (46%) are also significant factors in the ideal home’s location.
Luxury Features:
When it comes to luxury amenities, Americans dream of having a 2 or more-car garage, energy-efficient appliances, and a dedicated hobby room. These features elevate the dream home from a mere living space to a haven of comfort, convenience, and personal fulfillment.
Suburban Living:
The majority of Americans envision their dream homes situated in the suburbs, while others aspire to live in the countryside (19%), cities (18%), on the beach (15%), near the water (12%), or in the mountains (9%). This diverse range of preferred locations highlights the unique desires and lifestyles of individuals across the nation.
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Exterior and Interior Design:
In terms of exterior design, contemporary, Victorian, and ranch styles emerge as the most popular choices. An overwhelming majority (77%) opt for neutral paint colors, such as whites, grays, and creams, while a smaller percentage (23%) lean towards bolder hues like black, blues, and greens.
Similar preferences are observed in interior design, with 73% favoring neutral colors like white, off-white, and greige, and 27% opting for bolder shades of blue, charcoal, and green. Modern, contemporary, and farmhouse design styles are the most sought-after, with 71% of Americans preferring a minimalist approach to interior décor.
Generational Differences:
While there are some commonalities across generations, such as a preference for 3 bathrooms, neutral exterior colors, and 3 to 4 bedrooms, certain distinctions emerge. For instance, Gen X favors ranch-style exteriors and beach living, while other generations lean towards contemporary styles and suburban locations. Dream home sizes also vary, with Gen X desiring an average of 7,077 square feet, compared to smaller footprints for Baby Boomers (3,860 sq. ft.), Millennials (3,700 sq. ft.), and Gen Z (3,571 sq. ft.).
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Homeownership and the American Dream:
An overwhelming 94% of Americans believe that homeownership is a crucial part of the “American Dream,” with 2 in 5 considering it a necessity rather than a personal lifestyle choice. However, 94% of respondents do not currently live in their dream homes, and more than half (52%) doubt they will ever be able to attain it. The perceived cost of dream homes, ranging from $500,000 to $1 million or more, may contribute to this sentiment.
Despite these challenges, the desire for homeownership remains strong, with 58% of respondents currently owning a home and 42% of renters planning to buy or build within the next 5 years. However, the prospect of homeownership can be daunting, with 64% admitting to experiencing anxiety over the process.
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While the specifics may vary, the underlying desire for a perfect home that has comfort, style, and personal fulfillment remains a unifying thread. As Americans navigate the path to homeownership, it is clear that the dream of “home sweet home” continues to be a driving force in the pursuit of the American Dream.
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