People With Own Homes are Happy

Where we live affects our levels of satisfaction. The UK government’s "Measuring National Well Being Program" showed that a person who owned his house was more satisfied with life than one who rented.

The survey by Office of National Statistics discovered that the married with a job and own house were most likely to be satisfied with their lives. Approximately 80 percent of people owning a home reported medium or high levels of satisfaction, while only 68 percent of people who rented reported the same levels of satisfaction.

“One dream is often moving home or purchasing for the first time so that you and your family have somewhere to call home and enjoy the delights of our English summer in your own garden,” said Steve McElroy, sales director, Miller Homes Yorkshire, in a statement.

Between April 2011 and March 2012, close to 165,000 people were surveyed to find their levels of satisfaction. Overall gratification was linked to where a person lived, local environment and access to local services.

The survey also revealed that teenagers and those who are retired are amongst the happiest in the UK. Also, people who lived in rural areas agreed that they are the most content overall, the report said.
Access to affordable housing was also attributed as an important component in increasing a person’s satisfaction.

The survey asked respondents to list out advantages of owning a home rather than renting it. The main advantage cited by 26 percent of all adults was that owning a home represented a good investment, 21 percent said it gave them the freedom to do what they wanted with the property and 23 percent said home ownership was more secure in the long-term than renting.

Conversely, 28 percent renters said it gave them the flexibility to move at short notice; 23 percent reported advantage of lack of personal responsibility over maintenance; and 9 percent said they got to choose where they stayed and had the freedom to move if they wanted.