Americans have a lot of options when it comes to where they live. Some live in condos so that they can have some of the benefits of the shared spaces and so they can have maintenance done for them. Others living in duplexes and other multi-home structures. Still others simply continue to rent apartments and do not own a home at all.
But what do they prefer? Studies have found that most people in the United States — about 80% — want to live in a single-family home. They want it to be a detached house, meaning they do not share the land or the structure with anyone else.
Not all people who want this type of living situation get it. About 70% of Americans actually live in these detached, single-family homes. This leaves the other 10% working toward that goal — they may be renting apartments, for instance, while saving up money for the down payment on a mortgage.
A small portion of the population prefers to live in either condos or apartments. They check in at about 8% of the total in the United States. That said, roughly 17% of Americans live in these types of homes. This suggests that about half of them view it as a temporary setup, while some of them see it as their end homeownership goal.
Are you thinking of buying a home, a condo or some other type of residential property? It’s part of the American dream. No matter what your specific dream looks like, make sure you know what legal steps to take.
