IPX1031, a national leader in 1031 Exchange Q1 services, has released the “America’s Generational Dream Homes” report.
IPX1031 surveyed more than 1,000 Americans across each generation about their dream homes. According to the report, 94% of respondents said they are not currently living in their dream home, with the top reason being they cannot afford it. But what would those homes look like? Where are they located? What would they cost? Here’s what IPX1031 found:
- Modern was the top architecture and interior design style
- 57% prefer new construction over renovating a home
- 35% want four beds, 38% want three baths
- The most desired features include: a view, big backyard, large family room and front porch.
The top luxury amenities people are looking for are land and privacy (59%), a hobby room (48%) and a home theater (42%). And the price tag — 51% said their dream home is out of reach, with half of millennials estimating their dream home would cost between $500,000 to more than $1 million.
You can read the full report, which also includes generational insights on what people are looking for in their ideal home, how many renters plan to become homeowners in the next five years and which generation wants to own a vacation home.
