Review: Home and Satisfaction

Sep ,26, 2021

Rimsha Akram
2017-ARCH-31
University of Engineering and Technology
 Home and Satisfaction
This paper focuses on the valuing of homeownership by individual
homeowners. Owning one’s own house has many positive effects on
the society as well as on the individual. Homeownership is preferred
over renting system as it gives you freedom, financial advantage that
directly leads to housing satisfaction and greater self-esteem.
Homeownership is also a tradition in some countries not a choice. This
theory of home satisfaction then tested in English-speaking countries
where renting system is adopted.
A number of researchers, particularly from continental Europe,
have criticized the perceived superiority of homeownership and the
effects that are assigned to it by these theories. They state that,
wherever there is a well-developed rental sector, renting represents an
adequate and acceptable alternative to homeownership.
This paper extend this discussion to other countries for having a
suitable international comparisons. According to their theories, In
English speaking countries, home owners are more satisfied with
housing situations than tenants. The countries with well-developed
rental sector they own that the renting system is good alternative to
homeownership. Home owners are not more satisfied with housing
situation than tenants. While in southern European countries
homeownership is a family tradition. There is no alternative to
homeownership and they are more satisfied with housing situation than
tenants.
As a home owner one has the right to use his property on his own
way. He can decorate, maintained according to his choice. Based on
these choices homeownership gives you a feel of security, freedom,
responsibility and involvement. This whole package of rights, duties and
investment results in a natural preference for homeownership in English
speaking countries according to the theory described by Saunders.
That’s the reason housing policy encourage people to become
homeowners.
According to Saunders people are having a natural desire to have
their own house instead of adopting renting system due to low level
satisfaction as well as you don’t have right to do changings of your own
choice. The European Community Household Panel enabled us to
prepare the housing satisfaction of homeowners and tenants over the
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 Home and Satisfaction
three groups of countries English speaking countries, well developed
countries and Southern European countries when controlling for housing
quality, household characteristics and housing costs. In all the selected
countries, the type of tenure has an autonomous influence on housing
satisfaction, homeowners being more satisfied than tenants. From the
numerical evidence it is indicated that homeowners in seven out of eight
countries are more satisfied with their housing situation than tenants.
Only in Austria do homeowners and tenants display a similar level of
housing satisfaction.
The last part of this paper discuss some possible implications for
further research and for housing policy. It is concluded that in seven of
the eight selected EU countries, homeowners are more satisfied with
their housing situation than tenants. In many of these countries, the size
of the social rental sector is decreasing, whereas the concentration of
low-income households within this sector is increasing. Moreover, in
Denmark and the Netherlands fiscal policy seems to contribute to the
attractiveness of homeownership. For proper conclusions on this issue,
further research is necessary.