Financial Crisis Yields a Generation of Renters

Husband and wife Alex Ruiz and Stephanie Johnson rent an apartment in Asheville, N.C., but hope to own a home.

Mike Belleme for The Wall Street Journal

Alex Ruiz, 29 years old, and his wife, Stephanie Johnson, have steady jobs, are setting aside money for retirement and are slowly paying down their student debt.

Yet buying a house seems out of reach for at least another decade. Home values in Asheville, N.C., where they live, are up some 70% over the past seven years. Their student-loan payments and rising rent have made it difficult to save for a down payment, and the houses that go on the market get snapped up right away.

“Day to day we’re OK generally,” said Mr. Ruiz, a case manager at a government-funded agency. “But the depressing part is when we take a hard look at the possibility of our future.”

For generations, the wealth of U.S. households was built on the foundation of homeownership. That is changing.

Homeownership rates for younger Americans have fallen sharply over the last decade. The median age of a home buyer is 46, the oldest since the National Association of Realtors began keeping records in 1981. Economists, policy makers and mortgage lenders expect the trend to extend to younger generations. The decline illustrates what for many Americans is the real legacy of the financial crisis.

Share of all home buyers by age

People who came of age in the crisis and its immediate aftermath had no bargaining power when they entered the job market, crimping their earnings ever since. They started adulthood when the housing market was crashing and watched as banks foreclosed on their parents—and decided they weren’t interested in tying their fortunes to a piece of property.

Now, as memories of the crisis fade, they want to buy homes but are finding themselves priced out of the market. Home prices have risen across the board but most steeply among the starter homes first-time buyers can afford, as developers focus on high-end properties where profit margins are higher. The average price of lower-priced homes rose by 64% from early 2012 to late 2018, according to mortgage-data tracker CoreLogic, while the price of higher-end homes rose just 40%.

Alex Ruiz and Stephanie Johnson cook dinner in their apartment in Asheville, N.C.
Alex Ruiz and Stephanie Johnson cook dinner in their apartment in Asheville, N.C.

Mike Belleme for The Wall Street Journal

The effects are already reverberating through the economy. More adults in their 20s and 30s are living with their parents, according to census data, which could make them unwilling or unable to move cities for better jobs. The possibility of rent increases could make them less willing to spend, which some economists believe has already contributed to the economy’s slow postcrisis growth. Some young adults said their inability to buy a home had made them rethink having children, which could exacerbate the challenges created by America’s aging population.

“Lower homeownership for young adults means lower economic growth,” said Sam Khater, chief economist of mortgage-finance giant Freddie Mac. “That’s it in a nutshell.”

Homeownership rates for young people are near their lowest levels in more than three decades of record-keeping. About 40% of young adults, ages 25 to 34, were homeowners in 2018, according to federal data analyzed by Freddie Mac. That is down from about 48% in 2001, when Gen X-ers were young adults. Some economists calculate the decline is actually even steeper.

The crux of the problem: Home prices have outpaced wage gains. From roughly the end of 2000 to the end of 2017, median home prices rose 21% after adjusting for inflation, while median household income rose 2%, according to federal and industry data analyzed by Freddie Mac.

Alex Ruiz and Stephanie Johnson live at this apartment complex in Asheville, N.C. ‘Lower homeownership for young adults means lower economic growth,’ says Freddie Mac’s chief economist.
Alex Ruiz and Stephanie Johnson live at this apartment complex in Asheville, N.C. ‘Lower homeownership for young adults means lower economic growth,’ says Freddie Mac’s chief economist.

Mike Belleme for The Wall Street Journal

Some of the drop in homeownership is a matter of preference. The financial crisis made today’s young adults averse to debt and risk, lenders say. That means they might be willing to spend on daily luxuries but not to tie up the bulk of their money in a mortgage.

Millennials aren’t making up for lost home equity in other investments. The median net worth for young families plunged by nearly a third from 2001 to 2016 after adjusting for inflation, according to the Federal Reserve.

Even if millennials soon start buying homes en masse, as some banks and mortgage lenders predict, there are consequences to buying late. A recent report by the Urban Institute examined homeowners who turned 60 or 61 between 2003 and 2015. Those who bought their first home between ages 25 and 34 had median housing wealth of about $149,000. Those who waited until ages 35 to 44 had half that.

The effects of not buying, or buying late, should become more clear as millennials enter new stages of life. The median family net worth of homeowners is more than $230,000, according to the Fed, compared with $5,000 for renters.

Without home equity, people are less able to weather job losses or unexpected medical expenses, and less able to start small businesses. Baby boomers could find that when they want to downsize, there are fewer buyers because younger adults never built up equity in a first home. And decades from now, millennials might have to keep working well into retirement age.

“Jobs are plentiful, the economy seems good, and lenders are going to look at this and say, ‘Everything’s great,’” said Brad Blackwell, who recently retired as head of housing policy at Wells Fargo & Co. “But they should take the long view.”

In Philadelphia, Nate Baird and his wife have set a goal to buy a home next year, before their son starts school.

Mr. Baird, an emergency-preparedness planner, took a second job teaching at a local university to earn extra income to save for a down payment and pay off student debt.

“We’ve thrown ourselves into working,” said Mr. Baird, 33. “It’s a trade-off.”

Though mortgage rates are low, that matters little when home prices are rising faster than income. Increasingly, the young adults who can afford homes will be those whose parents can help with a down payment, economists and lenders said.

Elysse Lane, 32, and her husband finished business school in 2016 and wanted to live in the San Francisco area, where she had a job offer and family. They moved to Austin, Texas, instead, in large part because buying a home in California seemed impossible.

But the market in Austin is crowded too. They have put offers on three homes but lost to other bidders. One small comfort: They don’t really feel out of place. Many of their friends are in similar situations.

The post Financial Crisis Yields a Generation of Renters appeared first on Real Estate News & Insights | realtor.com®.

This Stylish Treehouse Is Luxury Off-the-Grid Living

Kati O’Toole and her husband, Darin, wanted to create a giant piece of artwork on their private and heavily wooded seven-acre property in Montana. They ended up with what they refer to as the Montana Treehouse Retreat – a two-story, fully finished treehouse nestled among three living trees.

“Everybody thought we were crazy [at] the beginning, like ‘What are you guys doing building a treehouse here?’ Our parents thought we were crazy,” says Kati.

But the hard work and vision paid off, and now visitors from all over the world routinely come to stay at their carefully crafted work of art. The 700-square-foot treehouse features a master suite with a deck that overlooks the forest, a living area with three benches that can double as sleeping quarters, and two bathrooms. Guests can also prepare a meal in the treehouse’s downstairs kitchen, complete with a refrigerator, a stove, a sink and a dishwasher.

“There’s even air conditioning in this treehouse, because we wanted to create a very luxury experience here. I have to be honest – the treehouse is nicer inside than the house that I live in, so I like to come back here and just have a little retreat away from it all,” says Kati.

Every detail of the treehouse was painstakingly thought out, and most of the materials were either sourced locally or repurposed. The trim and the interior feature wood that Darin himself milled, sanded and finished, and the breakfast table nook was made from the base of a tree located right on their property.

One of Kati’s favorite details of the treehouse, however, is the spiraling exterior staircase, which is wrapped around a large tree shipped in from Darin’s grandmother’s yard, roots and all.

Although Darin handled most of the heavy-duty construction of the structure, Kati’s handiwork is all over the interior.

“We wanted it to be kind of funky and modern – but still have some Montana accents and still be a little rustic too. So there were many things coming into play, and we wanted people to feel like it was a very cozy home away from home when they came here, and just like a one-of-a-kind Montana experience,” she says.

A combination of white shiplap and multicolored wood paneling covers the interior walls, giving the home an eclectic yet polished farmhouse look, and expansive windows create an open, airy feeling in the small living spaces. Modern elements that are dotted throughout the house, like the industrial chandelier in the kitchen and the black hexagon and subway tiles in the bathrooms, are more reminiscent of a boutique hotel than a remote treehouse located near Glacier National Park.

Close to Kati’s heart are the pieces by local artists that don the walls, with some of the pieces coming from guests who created the artwork while staying at the treehouse.

“It’s been really cool to see [how] this place inspires people,” she says.

But the defining characteristic of this home – and what guests travel miles for – is the unique experience of living out your childhood dreams of sleeping in a treehouse.

“It’s a very unique feeling that most people have never experienced, to be lying in bed and seeing a tree – or you’re actually moving. And people have told me that they love the experience, and it’s – yeah, it’s a treehouse. That’s the beauty. It’s a real treehouse,” says Kati.

Related:

5 Myths (and 5 Truths) About Selling Your Home

Everyone has advice about the real estate market, but not all of that unsolicited information is true. So when it comes time to list your home, you’ll need to separate fact from fiction.

Below we’ve identified the top five real estate myths – and debunked them so you can hop on the fast track to selling your property.

1. I need to redo my kitchen and bathroom before selling

Truth: While kitchens and bathrooms can increase the value of a home, you won’t get a large return on investment if you do a major renovation just before selling.

Minor renovations, on the other hand, may help you sell your home for a higher price. New countertops or new appliances may be just the kind of bait you need to reel in a buyer. Check out comparable listings in your neighborhood, and see what work you need to do to compete in the market.

2. My home’s exterior isn’t as important as the interior

Truth: Home buyers often make snap judgments based simply on a home’s exterior, so curb appeal is very important.

“A lot of buyers search online or drive by properties before they even enlist my services,” says Bic DeCaro, a real estate agent at Westgate Realty Group in Falls Church, Virginia. “If the yard is cluttered or the driveway is all broken up, there’s a chance they won’t ever enter the house – they’ll just keep driving.”

The good news is that it doesn’t cost a bundle to improve your home’s exterior. Start by cutting the grass, trimming the hedges and clearing away any clutter. Then, for less than $50, you could put up new house numbers, paint the front door, plant some flowers or install a new, more stylish porch light.

3. If my house is clean, I don’t need to stage it

Truth: Tidy is a good first step, but professional home stagers have raised the bar. Tossing dirty laundry in the closet and sweeping the front steps just aren’t enough anymore.

Stagers make homes appeal to a broad range of tastes. They can skillfully identify ways to highlight your home’s best features and compensate for its shortcomings. For example, they might recommend removing blinds from a window with a great view or replacing a double bed with a twin to make a bedroom look bigger.

Of course, you don’t have to hire a professional stager. But if you don’t, be ready to use some of their tactics to get your home ready for sale – especially if staging is a trend where you live. An unstaged house will pale when compared to others on the market.

4. Granite and stainless steel appliances are old news

Truth: The majority of home shoppers still want granite counters and stainless steel appliances. Quartz, marble and concrete counters also have wide appeal.

“Most shoppers just want to steer away from anything that looks dated,” says Dru Bloomfield, a real estate agent with Platinum Living Realty in Scottsdale, Arizona. “When you a design a space, you need to decide if you’re doing it for yourself or for resale potential.”

She suggests that if you’re not planning to move anytime soon, decorate how you’d like. But if you’re planning to put your home on the market within the next couple of years, stick to elements with mass appeal.

“I recently sold a house where the kitchen had been remodeled 12 years ago, and everybody thought it had just been done because the owners had chosen timeless elements: dark maple cabinets, granite counters and stainless steel appliances.”

5. Home shoppers can ignore paint colors they don’t like

Truth: Moving is a lot of work, and while many home buyers realize they could take on the task of painting walls, they simply don’t want to.

That’s why one of the most important things you can do to update your home is apply a fresh coat of neutral paint. Neutral colors also help a property stand out in online photographs, which is where most potential buyers will get their first impression of your property.

Hiring a professional to paint the interior of a 2,000-square-foot house will cost about $3,000 to $6,000, depending on labor costs in your region. You could buy the paint and do the job yourself for $300 to $500. Either way, if a fresh coat of paint helps your home stand out in a crowded market, it’s probably a worthwhile investment.

Related:

Originally published April 1, 2014.

America’s 10 Hottest Neighborhoods, 2019 Edition

San Francisco, New York, Los Angeles? Thank u, next!

As it turns out, this year’s most sought-after neighborhoods are not those nestled in the nation’s biggest, most famous cities where home prices are just about as high as the skyscrapers. Instead, the hottest ZIP codes are found in substantially less renowned places in the much-more affordable Midwest and Northeast, according to a recent realtor.com® report. They’re the places showing big-time buyer interest and lots and lots (and lots) of home sales.

And these are the kind of places where the average buyers don’t need to auction off their first-born child to have enough money to become a homeowner. Most offer median prices well below the national median list price of $316,000. But buyers had better be quick, because homes in these ZIP codes are selling much faster than the national median of 56 days on the market.

“People are looking for more affordable places to live,” says Chief Economist Danielle Hale of realtor.com. “Last year we saw people moving to far-out suburbs of major cities. This year, we’re seeing people move to smaller metro areas, which are even less expensive. And they still get access to city life—just not in the biggest cities.”

To come up with our findings, our economics team looked at 16,000 ZIP codes from January through June of this year. We figured out which ones received the most page views on realtor.com and had the fewest days on the market. We also looked at median home list prices, mortgage statistics, employment and population growth figures, household incomes, and other demographic statistics. ZIP codes needed at least 12 listings per month to be included. And only the top ZIP code from each metro was included.

So what are the top spots?

1. Grand Rapids, MI

ZIP code: 49505 (Creston)
Median price: $178,050
Median days on market: 10

Grand Rapids is reigning supreme for the second year in a row thanks to an influx of new residents, particularly younger ones. They’ve transformed the former industrial town into something of a hipster mecca, filled with craft breweries and cool brew pubs. (Hey, it isn’t called Beer City USA for nothing.)

The Creston area is in high demand due to its location just above downtown, plethora of parks, Kent Country Club, and good public schools. The inexpensive real estate is also a big draw for cost-conscious, first-time home buyers. (This is the first time this ZIP made the list, as last year one in the southern portion of the city topped the ranking.)

“There’s a lot of cool, little communities in that area,” says real estate broker Michael Ross of Grand Rapids Realty. “It’s up-and-coming and growing.”

The area mainly offers suburban-style, single-family houses with backyards starting around $120,000. But prices are rising fast. They’re up 11.3% year over year.

“Grand Rapids has a lot going for it. It’s superaffordable,” says Hale. “Younger buyers are coming in waves.”

2. Omaha, NE

ZIP code: 68144 (Prairie Lane)
Median price: $238,950
Median days on market: 21

Prairie Lane’s appeal lies in its location, just 12 miles west of downtown Omaha near the interstate. There’s plenty of shopping, including the Oak View Mall. And it borders Zorinsky Lake, a bonus for those who like to go fishing.

Plus, there are lots of good jobs in the area at companies such as Berkshire Hathaway, Union Pacific Railroad, and Werner Enterprises.

Like most of the other places on this list, the housing is predominantly single-family homes. Buyers on a budget can score a three-bedroom, three-bathroom fixer-upper with a big backyard and a deck for $167,500. With such prices, it’s not exactly surprising that millennials make up about 43% of buyers in the community.

Meanwhile, those with more green to burn can pick up a 5,400-square-foot, recently remodeled dream home with a luxe master bath on almost an acre of land for $875,000.

3. Boise, ID

ZIP code: 83704 (Winstead Park)
Median price: $289,950
Median days on market: 14

You can thank Californians for Boise becoming one of the West’s new “it” cities. As the larger West Coast cities have become more expensive, residents have been fleeing to lower-cost Idaho. The city boasts plenty of outdoor entertainment (e.g., mountain resorts popular with skiers and plenty of rivers and lakes). It also has a burgeoning tech scene.

That’s attracting both workers and retirees. They can sell their modest homes in places like San Francisco and Seattle and buy larger, nicer properties in the Boise area for a fraction of the price. And the Winstead Park area, which encompasses the 83704 ZIP code, offers some of the best bargains around. Homes here are about 38% less than the $399,900 median for the whole city.

In the Winstead Park neighborhood, the majority of the real estate up for sale are single-family homes. Buyers can scoop up two-bedroom ranch homes in need of a little work starting around $200,000. Most of those moving in to the community are older millennials and Generation Xers, according to realtor.com data.

“Boise has a great tech scene with lots of local employers,” says Hale. The area is “a big draw for people in California and Washington who want to stay in the industry, but are tired of the expenses.”

4. Shawnee, KS

ZIP code: 66203 (Old Shawnee)
Median price: $220,050
Median days on market: 13

You don’t have to spend a fortune to own a home in a walkable downtown with plenty of locally owned restaurants and shops. But you may have to move to Old Shawnee. This Midwestern suburb is just 10 miles southwest of Kansas City, MO, along Interstate Highway 35.

However, prices may not stay low for long. They’ve jumped 16.4% year over year in the 66203 ZIP code. And millennials are at least partly the reason—they made up about 43% of buyers in the area with mortgages. But most of the residents there are older families who have been there for years, says local real estate agent Rosemary Male of Better Homes & Gardens Real Estate Kansas City.

Single-family homes under $200,000 go fast. But patient—and persistent—buyers can find a few listings for just under that mark. This cheerful, three-bedroom, 2.5-bathroom ranch with a deck was listed at $189,000. And it was recently remodeled.

The area, which is between two major highways, “is centrally located and it’s got a strong hometown vibe to it,” says Male. “They have festivals and different events in that area a lot.”

5. Rochester, NY

ZIP code: 14609 (North Winton Village)
Median price: $125,050
Median days on market: 17

This former industrial town, where Kodak was founded in 1888 near the southern shore of Lake Ontario, has become popular with those looking for a great real estate deal. It’s a lively place to be thanks to all of the college kids attending the University of Rochester and nearby Rochester Institute of Technology.

Plus, the North Winton Village area is the cheapest ZIP on our list. The median price for the entire city isn’t too bad either, at a still-pretty-low $146,900.

Handy folks can pick up a nearly century-old, single-family home for under $500,000. But plenty of move-in ready abodes abound for less than $100,000. This four-bedroom, one-bath house with a wood-burning fireplace and fenced backyard is listed at $94,000.

“Young buyers are looking for affordability, and that’s why they’re flocking to this ZIP code,” says Hale. Plus, there are plenty of jobs in the “medical and education industries.”

6. Livonia, MI

ZIP code: 48154
Median price: $254,950
Median days on market: 17

Those who enjoy the cultural amenities of Detroit, but don’t want to live in the city as it continues to undergo a resurgence, are opting for suburbs like Livonia. The oasis of single-family homes with green lawns is just 20 minutes from the Detroit Institute of Art and the historic Eastern Market. It’s also near many of the area’s employment hubs such as the Ford Motor Co. headquarters in Dearborn.

But with more buyers discovering the area and more newly constructed homes going onto the market, there’s been a bump in prices. They shot up 6.2% year over year, according to realtor.com data.

“It’s right in the center of Livonia,” says real estate broker Brian Duggan, of Duggan Realty. “There’s more shopping. … There’s more events happening in that section.”

Most of his clients are in their 30s and 40s buying newly constructed three- or four-bedroom homes in the $320,000 range.

However, there are still plenty of bargains in the area. Folks can snag ranches starting in the low $100,000 range. This four-bedroom, one-bathroom ranch with an enclosed sunroom, deck, and two-car garage is going for $129,900.

Those who don’t want to deal with home maintenance may prefer a condo. This 1,800-square-foot, three-bedroom, 2.5-bathroom brick condo with a fireplace is listed at $195,000.

7. Melrose, MA

ZIP code: 02176 (Wyoming)
Median price: $629,050
Median days on market: 18

Melrose is the exception to the affordability rule. The more affluent Boston suburb, just 10 miles north of the city, boasts a strong school system, several rail stops for easy access to Boston, and a quaint downtown filled with restaurants, shops, and art venues. That may be why this community also made realtor.com’s top ZIP codes list in 2016.

But buyers had better pony up: Homes in Melrose cost nearly double the national median price. And that’s even after prices dipped 1.7% compared with last year. However, everything is relative. Melrose is still a bargain compared with the median $1,400,500 home price within the Boston city limits.

The area does have some more affordably priced condos for those who don’t mind investing in an update starting around $265,000. This renovated one-bedroom with a balcony is going for $275,000. Single-family homes go for much more, with ones in need of some work starting around $450,000.

“Melrose is driven by buyers looking for the suburbs,” says Hale.  “And it’s less expensive than other towns [nearby].”

8. Arlington, TX

ZIP code: 76018 (Southeast Arlington)
Median price: $215,050
Median days on market: 20

If you’re wondering what Arlington’s secret sauce is, it’s the city’s location. Arlington is ideally situated in the bustling region between Dallas and Fort Worth. And as more large companies are moving to and expanding in the area, there are plenty of new residents in need of affordably priced housing.

Home prices in the Southeast Arlington area rose 7.5% year over year. But they’re still a steal compared with Dallas, where homes are going for a median $459,000 within the city limits, and Fort Worth, at $272,000. In Arlington, move-in ready, three-bedroom homes start around $200,000.

Local buyers can put their savings toward an epic night out in one of the bigger cities, which are within a short commute. Or sports fans can splurge on a game at the AT&T Stadium, home of the Dallas Cowboys, or the Globe Life Park, where the Texas Rangers baseball team plays.

9. Goffstown, NH

ZIP code: 03045 (Pinardville)
Median price: $325,050
Median days on market: 22 

Admit it: You’ve probably never heard of Goffstown. The city of approximately 18,000 residents is located about 90 minutes north of Boston and just west of New Hampshire’s largest city of Manchester.

The Pinardville area, which includes 03045, is a quaint, historic Northeastern town with tree-lined streets where everyone seems to know your name. The downtown boasts older brick buildings housing the town’s mom and pop shops and restaurants. It’s located just near Saint Anselm College, one of the area’s oldest, Catholic liberal arts schools with about 2,000 students.

Prices area high compared with the rest of the nation, but they’re a fraction of the $1,400,500 median home price in the city of Boston and the $589,900 median price tag in the Boston metro area.

Single-family homes start around $200,000, while two-bedroom condos can be found for about $150,000.

10. Colorado Springs, CO

ZIP code: 80916
Median price: $245,050
Median days on market: 21

Those who like the outdoorsy culture of Denver and Boulder—but not their high home prices—are increasingly looking at Colorado Springs instead. The city, known for its 1,300 acres of stunning, natural sandstone formations in the Garden of the Gods, is only about 70 miles south of Denver. And it offers its own local brewery and tech scenes as well as plenty of outdoor activities.

The 80916 ZIP code hasn’t always been the most desirable place to live. It does encompass the local airport and abuts the Peterson Air Force Base, after all. But the area’s mix of townhomes and single-family homes are significantly cheaper than in the rest of the city. The median price in the Colorado Springs metro area, which includes neighboring towns, is about 56% higher, at $383,000.

Two-bedroom townhomes start around $150,000, while a detached house will set buyers back about $160,000 and up. This four-bedroom house with a double deck and stainless-steel appliances is listed at $159,900.

“It’s not too far from Denver, so depending on traffic it’s only an hour or so,” says Hale. “But it’s significantly more affordable.”

The post America’s 10 Hottest Neighborhoods, 2019 Edition appeared first on Real Estate News & Insights | realtor.com®.

Disco Inferno! Dance On Into These 12 Homes With Private Discos

realtor.com; iStock

Lace up your boogie shoes and get ready to shake, shake, shake. We’re shimmying across the country to spy on how the finest dancers sashay the night away in the ultimate private clubs: in-home discotheques.

These spaces with bars, dance floors, and professional-grade sound systems are intended to entertain a crowd as well as (or perhaps better than) the local watering hole.

We twirled through listings nationwide and found 12 homes on the market right now that have their own dance clubs. Some are oriented toward live music and others are ready for a DJ to plug in, but all of them boast their very own glittering disco ball.

No matter what your late-night tastes, one of these spaces, designed for dancing the night away, is likely to get those toes tapping—no ID or cover charge required.

170 Longview Blvd, Gettysburg, PA 

Price: $324,900
Pennsylvania party: Up top, this four-bedroom suburban home is all family business. But the finished basement houses all the fun, namely a wet bar and full dance club with disco ball. Built well after the 1970s disco craze, this is definitely the place to be if you’re feeling overcome with dance fever on a random Saturday night.

Basement disco club
Gettysburg, PA

realtor.com

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120 Montecito Ranch Ln, Summerland, CA

Price: $65,000,000
Summerland shimmy: The highest-end disco we found! This 20-acre compound, known as the Bella Vista Polo Ranch, has a helipad, parking for 100 cars, gardens, horse stables, and a polo field. But it also features a disco/ballroom to showcase your hustle after a long day of leisure. Have your friends hop in their helicopters and come on over.

Chic mansion disco
Summerland, CA

realtor.com

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3681 Oak Glen Cir NW, North Canton, OH 

Price: $749,900
North Canton nightspot: This five-bedroom home has over 5,000 square feet of living space. And the dance scene here is no laughing matter. The current owners have configured “The Giggles Room,” a fully functional disco with soda bar in the basement, complete with custom sign and booths for sipping between musical numbers.

Basement disco bar
Canton, OH

realtor.com

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27 Robin Dr, Jefferson Township, NJ 

Price: $495,500
Bumpin’ basement: This house was built for entertaining both indoors and out. The four-bedroom home has a fully finished basement with built-in bar, dance floor, and disco light for all of your party needs. When the weather’s nice, you can head outside to the multitiered deck out back. Whatever the temperature, we’re sure this basement always heats up when the lights are dimmed.

Basement bar and disco
Jefferson Township, NJ

realtor.com

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6455 N. Sauganash Ave, Lincolnwood, IL 

Price: $1,849,900
Lincolnwood luxe: Everything about this custom estate is intended to impress. There’s a double waterfall in the two-story entrance, an indoor pool and spa with custom fiber-optic ceiling, and shooting water fountains. But when it’s time to get down and boogie, there’s the rec room, complete with fireplace, wet bar, kitchen, snack bar, and heated dance floor with disco lights.

Fancy plus basement disco
Lincolnwood, IL

realtor.com

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657 Summit St, Englewood Cliffs, NJ

Price: $3,250,000
Party paradise: Paging Tony Manero! Check out those lights in the dance floor! This seven-bedroom smart home was built in 2015, with tons of upgrades. The most important upgrade is the disco with cherrywood wet bar, plus state-of-the-art lighting, and a big beautiful disco ball presiding over the whole affair.

Basement disco
Englewood Cliffs, NJ

realtor.com

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2103 Meadowbrook Ln, Glendora, CA

Price: $1,795,000
Disco Italiano: This custom Italian Renaissance-style mansion was built in 1985 with over-the-top touches, including gold-plated crown molding, hand-painted ceilings, stained-glass windows, and Italian travertine floors. But we love the colorful disco with a dance floor, mirrors, disco lights, and surround sound for partying the night away.

Basement dance club
Glendora, CA

realtor.com

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706 Front Royal Cir, Fayetteville, NY

Price: $774,500
Fayetteville fun: This five-bedroom Cape Cod home belonged to the builder, so no detail was overlooked in its creation. The private retreat offers plenty of spaces for fun and relaxation, including the basement with full kitchen, game room, bedroom, bath, and … dance floor complete with disco ball.

Basement disco
Fayetteville, NY

realtor.com

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1785 S. Cora St, Des Plaines, IL 

Price: $695,000
Des Plaines disco: Built in 2005, this six-bedroom home has a special surprise: a home theater that can be converted into a private disco, complete with pole and pinup girls all over the walls for inspiration.

Basement disco
Des Plaines, IL

realtor.com

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11080 Abbotts Station Dr, Duluth, GA 

Price: $569,000
Duluth dance party: Not content with a simple sound-and-light system, this basement disco includes a stage for live performances. Upstairs, the traditional five-bedroom home exudes buttoned-up suburbia, but downstairs, it’s party time, all the time, complete with a full bar and the requisite disco ball for ambience.

Home disco in basement
Duluth, GA

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4 Oak Hill Dr, Millstone, NJ 

Price: $599,000
Dungeon disco: This home has several over-the-top add-ons, including an onyx master bath, plus fixtures and finishes incorporating Swarovski crystals, 24-karat gold, bronze, and copper. The basement disco is located in an industrial-looking, dungeonlike room, complete with cinderblock walls, low ceilings, and an amped-up sound-and-light system. A perfect place to indulge in your darkest dance fantasies!

dungeon disco
Millstone, NJ

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2 Smith Ave, Nyack, NY 

Price: $2,500,000
Palazzo party: Inspired by a Venetian villa, this home of over 6,600 square feet on the Hudson River is meant to be shown off. From the pool and patio on the water, to the walk-out basement with professional dance floor and disco lighting, this home is intended for fun and entertainment on a massive scale.

home disco
Nyack, NY

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