50% of Americans would pick their dream home over debt-free living

by Steve Randall12 Jul 2019

Given the choice between having all their debt paid off and living in their dream home, 50% of Americans would choose the latter.

But only 1 in 5 would give up their smartphone in order to own their dream home according to a new survey from LendingTree which also found that less than half of respondents would give up chocolate, social media, eating out, or vacations to buy their dream home.

But aspirations run high, especially among Gen X buyers; 1 in 5 say their dream home costs more than $1 million. This was also true for 15% of Millennials but just 7% of Baby Boomers.

More than half of millennials say they will one day own their dream home, which will have a pool and be by the beach. Space to entertain and for family is important.

However, the survey shows that living by the beach is preferred by the largest share of men while women would rather have a country home.

Modern, brick exteriors, preferably in white, are the top choices among respondents.

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