Most young adults in the United States aspire to own a home, according to a recent survey by the real estate site Trulia, but the majority does not expect that they will be able to do so for at least another two years. However, Millennials who were more motivated to purchase a home sooner if they are married or have children.

Selma Hepp, chief economist for Trulia, recently summarized the findings of the survey conducted for the site by Harris Poll. Seventy-one percent of respondents said they consider home ownership to be part of their personal "American Dream," down from 77 percent in 2010.

However, 89 percent of Millennials—defined as ages 18 to 34—who are currently renting said they plan to buy a home, and 87 percent expect that they will be able to do so. Among renters, 77 percent of Generation X respondents between the ages of 35 and 54 and 40 percent of Baby Boomers above the age of 55 said they plan to buy a home.

Overall, only 14 percent of respondents in the survey said they plan to buy a home within the next year. Sixty-nine percent said they will wait at least two years.

The share was slightly higher among Millennials, with 72 percent saying they anticipate that it will be more than two years before they purchase their residence. Seventeen percent expect that they will wait 13 to 24 months, 7 percent said they will buy in seven to 12 months, and only 4 percent said they will likely buy in six months or less.

Married with children

Millennials who were married were more likely to plan a purchase earlier, though most still expect that they won't do so for some time. Among married respondents without children, 55 percent plan to buy a home more than two years from now. Twenty-nine percent plan to buy in 13 to 24 months, 10 percent in seven to 12 months, and 6 percent within six months.

There was a similar trend among Millennials who are married with children. Fifty-three percent do not expect that they will be able to buy a home for more than two years, while 20 percent plan to buy in 13 to 24 months. Eighteen percent anticipate purchasing a home in seven to 12 months, while 9 percent plan to buy in six months or less.

In general, respondents with children were more likely to seek homeownership. Eighty-one percent of respondents with children under the age of 18 said they considered owning a home part of their personal American Dream.

Ninety percent of single, unmarried respondents with children said they plan to buy a home, compared to 69 percent of unmarried respondents without children. Seventy-six percent of respondents who were married with children expect to buy a home, while 53 percent of married respondents without children plan to do so. Among divorcees, 65 percent of those with children anticipate buying a home while only 41 percent of those without children plan to do so.

Hepp says financial considerations are the main hurdle for Millennial buyers, with many focusing on other payments. While 36 percent were saving up to buy a home, 52 percent were preparing to purchase a new car. Thirty-five percent were giving fiscal priority to their student loan payments, 26 percent to travel, and 9 percent to retirement. Fifteen percent were focusing on paying for a wedding, while 8 percent were dedicating funds to buying an engagement ring.

Home preferences

Just over one-third of respondents—35 percent—said they have already bought their dream home. Twenty-eight percent said they are regularly searching real estate listings to find the perfect residence.

Respondents were modest in their expectations for the size of their dream home, with 44 percent saying they would like a property with between 1,401 and 2,600 square feet. Another large share—22 percent—was unsure what size they would like their home to be. Millennials had the most respondents who did not know what they are looking for in home size, with 29 percent saying they were unsure about this characteristic.

Twenty-four percent of Generation X respondents wanted a home between 2,001 and 2,600 square feet, while another 22 percent were unsure about their ideal home size. One in four Baby Boomers sought a home between 1,400 and 2,000 square feet, while another 24 percent wanted a home between 2,001 and 2,600 square feet.

Presented with a number of home styles, one-third of the respondents said they would prefer another option. The next largest share, 18 percent, wanted a modern home. Other popular choices included a ranch home (15 percent), Victorian or Craftsman style home (11 percent), and farmhouse or log cabin (10 percent). Only 8 percent desired a Colonial or Southern Plantation style home, while just 3 percent and 2 percent wanted a high-rise penthouse or converted loft, respectively.

Millennials and Generation Xers were most likely to want a modern home. Twenty-two percent of Millennials and 17 percent of Generation Xers favored this style. Twenty-three percent of Baby Boomers preferred a ranch home, and Hepp notes that this style is more accessible than the others.

A backyard deck was the most desired home feature, with 59 percent of respondents saying they would like one. This was followed by a gourmet kitchen (47 percent), open floor plan (46 percent), balcony with a view (45 percent), vegetable garden (40 percent), swimming pool (38 percent), and office space (38 percent).

Millennials were most likely to favor a balcony with a view, with six out of 10 respondents in this age group favoring this feature. Balconies slightly edged out the backyard deck, which 59 percent of Millennial respondents said they would like at their home.

Generation X respondents largely favored backyard decks, with 65 percent wanting this feature and 50 percent seeking a gourmet kitchen. Among Baby Boomers, 55 percent wanted a backyard deck and 46 percent favored an open floor plan.

Men were more likely to want a private space in the home. Forty-four percent said they would like a "man cave," while only 17 percent of female respondents said they would like a comparable place.

Neighborhoods

Respondents favored a quiet neighborhood, with 27 percent each favoring a rural environment or suburb. Only 8 percent said their dream home would be in a downtown environment.

However, Millennials were more likely to consider other attributes to be more important than the location itself. Thirty-four percent wanted to have a short commute to work, and another 34 percent wanted to be in a good school district.

Hepp says the survey also identified certain geographical preferences. Respondents in the Northeast and Midwest were most likely to prefer the suburbs, while those in the South favored rural homes. Respondents in the western part of the United States wanted their home to be in the mountains.

The survey, which was conducted between May 26 and May 28, polled 2,026 adults. Trulia says figures for age, education, household income, race and ethnicity, region, and sex were weighted when necessary to better reflect the actual distribution of the American population.