What defines the American Dream to you? A stable job? A family? Owning a home? A healthy bank account? A fancy car?

 

Well, according to a recent poll released by TD Bank, 64% of the women surveyed believe that homeownership is an essential part of living the American Dream, compared to only 52% of men. In fact, 66% of women who are currently renting say they intend to buy a home in the future while only 57% of male renters plan to buy a home.

 

TB Bank surveyed over 1,300 Americans to better understand the attitudes of current renters and prospective, current and past homeowners about homeownership and the American Dream.

 

In addition to homeownership, women consider family and children (60%) and a stable career (59%) as other essential components to living the American Dream. However, 92% of women view homeownership as the highest level of success. A stable career came in second at 84% and having a family and children came in third at 81%.

This survey illustrates the fact that Americans, and women in particular, want to buy a home since they consider it to be a significant milestone in their life.

Other key findings from the survey include:

• 47% of people said the main reason they’re planning to sell their current home and buy a bigger, more expensive home is due to their growing family.
• 58% of women said space and the features of the home are important considerations when buying a larger home. Only 32% of men consider those factors as reasons for a home purchase.
• 93% of current women homeowners don’t regret buying their first home. Suggesting women consider a home purchase more thoroughly to make sure they’re making the right choice.
• 23% of women felt they were financially ready when they bought their first home compared to 20% of men. Suggesting women are a little more practical when it comes to buying their first home.
• 50% of current female homeowners bought their first home between the ages of 25-34.
• When they bought their first home, 66% of women were excited about their purchase and 51% were proud of their achievement.
• 20% of women said the American Dream was their biggest motivation toward buying a home. Only 15% of men cited the American Dream as an incentive for their home purchase.

Grandview Lending is committed to helping people obtain new home loans and achieve the American Dream of homeownership. We offer a full line of conventional home loan programs to fit your situation. Contact one of our Senior Mortgage Specialists today for a pre-consultation session so we can accurately assess your current and long-term goals.