Each individual harbors a unique conception of the American Dream. A recent survey conducted by Bankrate delved into people’s perspectives on the quintessential achievements symbolizing the American Dream. The findings indicate that, for a significant number of Americans, owning a home continues to hold the top position. (see graph below):
Based on the graph, it appears that people prioritize owning a home over other aspirations such as retirement, a successful career, or even obtaining a college degree. However, the question arises: does the dream of homeownership endure among younger generations?
A recent survey by 1000watt dive
While there are plenty of reasons why someone might prefer homeownership to rent,. According to the 1000-watt survey, a significant 63% of Gen Z and millennials express that a place doesn’t truly feel like “home” unless they own it. Perhaps you share a similar sentiment.
That emotional draw is further emphasized when you look at the reasons why Gen Z and millennials want to become homeowners. For all the financial benefits homeownership provides, in most cases it’s about the lifestyle or emotional benefits (see graph below):
What Does This Mean for You?
As a member of Gen Z or a millennial gearing up to purchase a home, having a proficient real estate agent is crucial. Their knowledge and proficiency in the local housing market will assist you in navigating challenges like high mortgage rates, limited inventory, and escalating home prices, ultimately transforming your homeownership aspirations into reality.
Collaborating with a local real estate agent is the essential step towards realizing the American Dream of finding your ideal home.
Working with a local real estate agent to find your dream home is the key to unlocking the American Dream.