Just 28% of Americans say they could afford their dream home today, and fewer than half (47%) think they'll ever live in their dream home, according to a new report from Clever Offers, a platform owned by Clever Real Estate that allows home sellers on tight timelines to explore their selling options.

Unsurprisingly, the top reason Americans don't think they'll ever own their dream home is that they won't be able to afford it (68%).

The typical dream home is a custom new-build, ranch-style home spanning more than 2,000 square feet, with scenic countryside or waterfront views and plenty of outdoor space — that costs at least $500,000.

Conversely, nearly half of Americans (45%) say their current home is smaller than 1,500 square feet, and only 21% say they could afford a home that costs $500,000 or more.

Although two-thirds of Americans (67%) would look for a dream home larger than 2,000 square feet, 1 in 10 (9%) dream of owning 5,000 square feet or more.

If money were no object, nearly half (43%) would prefer a custom new build. The most desired features are a fenced-in yard (46%), a back patio (45%), and a front porch (44%).

Despite dreaming big, Americans are largely willing to compromise on their home goals. About 70% of Americans would rather have a less-than-ideal home in their ideal location than a dream home in a less desirable spot.

Similarly, 77% of Americans would choose function over aesthetics, and 76% would prefer a low-maintenance home over a high-end property that's more difficult to manage.

And while 90% want scenic views — with the top locations being countryside (44%), oceanfront (41%), or lakeside (41%) — just a third (32%) consider it a must-have.

Gen Z (57%) and millennials (53%) are nearly three times more likely than boomers (18%) to believe that a bigger, fancier home would increase their happiness. Overall, 60% of Americans believe living in a beautiful home would improve their quality of life.

Read the full report at: https://cleveroffers.com/research/dream-home-features