Survey shows homeowners prefer a cozy haven loaded with luxuries
From the increasing popularity of luxury size cars to the sprawling mansions popping up across the country, Americans traditionally think big.
Yet a new national survey asking consumers to define their American dream house reveals more interest in comfort and style than size.
Despite conventional wisdom on the popularity of larger houses, the survey found that the average dream-sized home was a spacious — but not excessive — 2,500 square feet. And almost half of the respondents characterized their dream house as a safe, comfortable haven instead of a designer show house.
But that cozy abode is no log cabin — when it comes to building materials, consumers don’t want to scrimp. Fine materials, including marble, granite and real hardwoods like maple and cherry, ranked high on the list of luxury elements fit for a dream house. In fact, only 25 percent of the respondents said that they would be willing to substitute less expensive look-alikes if they couldn’t afford the real thing. They’d rather postpone or redesign their projects or trade off on home size to afford the best.
Enjoying the finer things in life
The American Dream House Survey, a national sampling of 1,029 Americans conducted by an independent market research firm for The Hardwood Information Center, found that just one out of three people — 35 percent — felt their current home measured up to the one in their dreams. The high-end home improvements that consumers felt would bring their current digs closer to the ideal or impress friends and family centered on the kitchen and bathroom, which most housing experts say offer the best payback on investment. Fifty percent of the respondents wanted a custom kitchen with real hardwood cabinets and marble bathrooms with a whirlpool tub. Other luxury designer elements, like a professional stove and appliances, granite kitchen countertops, genuine hardwood floors and paneling and a state-of-the-art home entertainment center scored high marks with more than 40 percent of the consumers contemplating their ideal living quarters.
Back to the simple life
Predictably, 50 percent of the respondents would prefer a brand new house, built to their specifications, but 20 percent dreamed of a charming old restored period house. Where is the best place to live out the dream? Half of all those asked opted for a house in the country, with the beach running a distant second at 19 percent.
When asked how their lifestyle would change with a move into their dream house, respondents were split, with half planning to do more home entertaining, cooking and gardening, or pursue hobbies like woodworking or photography. Half of the respondents believed it would make little or no difference. A third of those asked to envision their dream house — 32.5 percent — yearned for a low-maintenance home they could enjoy in retirement.
Patience is a virtue
The survey found that while the consumer wish list grows longer, so does the wait. Not surprisingly, money and time stand between the majority of the respondents and their perfect dream homes. Sixty-four percent cite finances as an issue, and 61 percent feel it will take 10 years or more to save enough to buy or build.