Is Owning a Home Still the American Dream for Younger Buyers

Is Owning a Home Still the American Dream for Younger Buyers

Dec 1, 2023 | Real Estate Blog

You know how everyone’s got their own take on the American Dream? Well, Bankrate did this survey asking folks about what they think really nails the whole American Dream thing. Turns out, owning a home is still the top pick for a bunch of people nowadays (see graph below):

Check this out – the graph shows that having a home is a bigger deal to folks than retiring, nailing a successful career, or even snagging a college degree. But here’s the kicker: is the dream of owning a home still important for the younger crowd?

There’s a survey by 1000watt digging into what Gen Z and millennials, the supposed renter generations, really think about owning a home. They asked if they’re interested in buying a house down the road, and guess what? The answer is a solid “yes. (see graph below):

So picture this: there are loads of reasons why someone might be all about owning instead of renting. According to the 1000watt survey, 63% of Gen Z and millennials feel that a place doesn’t quite hit “home” status unless you own it. Sound familiar?

Let’s dive a bit deeper into why Gen Z and millennials are itching to be homeowners. Sure, there are financial perks, but more often than not, it’s all about the lifestyle and those emotions that come with saying, “Yeah, this place is mine!” (see graph below):

What Does This Mean for You?

If you’re like the Gen Z or millennials and you’re all set to dive into homeownership, having an awesome real estate agent is key. These pros bring the know-how about the local housing scene, which is like your secret weapon against high mortgage rates, low inventory, and those rising home prices. They’re the ticket to making your dream of snagging that first home a reality.

Team up with a local real estate agent to make your dream home, the American Dream, a real thing.

Bottom Line

Buying a home is a major game-changing move that’s like the beating heart of the American Dream. Ready to start your journey? Just connect with a local real estate expert to get the ball rolling today.

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