Home-ownership continues to be the # 1 accomplishment of experiencing the American dream, in accordance with the 2017 Hearth State of the American Dream Report, according to a survey of 2,000 Americans.
Owning a Home Continues to be the American Dream
The individuals surveyed said the most significant aspects of the American dream are:
#1. Buying a Home I love (19%)
#2. Affording rent and cost of living without hardship (15%)
#3. Starting a family (14%)
#4. Locating a fulfilling career (14%)
#5. Sending my child to college (10%)
#6. Building retirement savings (9%)
#7. Being in position to afford luxuries (7%)
#8. Owning a car (5%)
#9. Earning even more than my parents (social mobility) (3%)
#10. Owning a pet (2%)
However, Americans fear that parts of their American dream could possibly be slipping away, in accordance with the survey conducted by Hearth, a “fintech” startup that assists homeowners make financial decisions during renovations. Less than one in five Americans surveyed state they are fulfilling their American dream. Eighteen percent said that they are fully living the American dream, while 36 percent state they are living only aspects of it and 28 percent say it’s within sight.
Forty-nine percent of millennial’s surveyed who are renting their home stated that owning a home was important to them. Ninety-four percent of the millennial’s surveyed revealed that home-ownership is important to experiencing the American dream, with 55 percent saying owning a home they love is “very important.”
Ninety-seven percent of homeowners surveyed believe renovations are an essential part to the American dream. Fifty-five percent of homeowners said owning a home they love is vital, however only 3 percent believe they’re able to achieve an American dream home without a renovation, as per the survey.
Overall, the top three U.S. states for consumers who state they are living the full American dream are Wyoming (40%), Delaware (38%), and Colorado (36%).
Ready to find your new home? Nick & Cindy Davis with RE/MAX Premier Group are here to assist you. We are always a just a click here away or call to 813-300-7116