New Builds, Spacious Rooms and plenty of privacy are the top must-haves for aspiring homeowners. This article from Inman News, hits the nail on the head and see how it compares to our Southern Oregon Market. Submitted by Marian Mcphearson.
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)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.