Study: 84 percent of renters plan to buy

A poll by TD Bank revealed that owning a home is still very much a part of the American Dream. According to the survey of more than 1,300 consumers, 84 percent of the younger renting generation (age 18 to 34) intend to purchase a home. More than half of those polled responded that homeownership played a vital role in their definition of the American Dream. First-time homebuyers are more likely to cite the American Dream as a primary motivation for purchasing a home, the poll found. Other findings include:
June 25, 2012
670c2f2468e9c18e9e2e564d Art Americandream1

A poll by TD Bank revealed that owning a home is still very much a part of the American Dream.

According to the survey of more than 1,300 consumers, 84 percent of the younger renting generation (age 18 to 34) intend to purchase a home.

More than half of those polled responded that homeownership played a vital role in their definition of the American Dream. First-time homebuyers are more likely to cite the American Dream as a primary motivation for purchasing a home, the poll found.

Other findings include:

  • Three out of 10 homeowners consider their current home their dream home
  • Seventy-eight percent said they plan to stay in their current home
  • Staying within budget is a top consideration among those who intend to buy (43 percent) 

The survey, hosted by research company Angus Reid Public Opinion, polled 1,303 consumers from April 17 to April 25. 

About the Author

Renee Lee, Associate Editor

Sign up for Custom Builder Newsletters
Get the latest news and updates.