The discrepancy between the two is the topic of a recent report from the Demand Institute a non-profit organization run by the Conference Board and Nielson, called the housing satisfaction gap. 10,000+ households, including renters and owners, participated.People are satisfied with their homes overall, but some desires hold many back from being completely happy with them.
Here are Americans’ top 10 housing desires that aren’t being met:
1. Energy Efficiency: This has the highest satisfaction gap in the report. While 71% of respondents think a home’s energy efficiency was important, only 35% of them said they were satisfied with their current home’s energy efficiency, which leaves a satisfaction gap of 36%.
2. A Renovated Home: Only 41% of those that said a home that requires little or no improvement is important said they are satisfied with their homes.
The top 5 major home improvement jobs that consumers are likely to do in the next three years are: Paint walls, replace flooring, remodel a bathroom, remodel the kitchen and replace windows and/or doors.
3. Updated Kitchens and Finishes: This feature may be more important than in past years, as people report cooking and eating at home more now.
4. Age-In-Place Features: The number of households headed by a person 65+ is expected to grow 10 times faster than other households, per the report. Only 53% of folks are satisfied with their homes in terms of having a home that they can stay in as they get older.
5. Safe Communities: More than one in five households report that their neighborhoods have become less safe in recent years.
6. Affordability: 40 million households in the country spend 30% or more of their income on housing expenses.
7. Privacy: Only 42% said they’re happy with the privacy of their home. This may be important because people are at home more often: 54% said they are spending more time at home these days.
8. More Space: Nearly half of households have two or more refrigerators or freezers, and 48% have three or more TVs. Only 35% are happy with their own home’s storage.
9. Responsive Landlords: There are 27% more single-family rentals today than in 2006, according to the report, and only about half of those who said that a landlord who is responsive to maintenance requests is important are satisfied with their current situation.
10. A Good Investment: Approximately 75% of those who said they think a home should be a good long-term investment are satisfied that their home is such.
Summarized from MarketWatch, Inc newsletter 12/3/2014 by Amy Hoak.