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December 04, 2014

Home Satisfaction? What Americans Want from Their Housing

Research and Analysis
Home Satisfaction - What Americans Want from Their Housing

A new survey from the Demand Institute highlights the housing satisfaction gap:  the top 10 things Americans want from their housing, but don't have:

1. Increased energy efficiency
Average household spending on home electricity has grown 56% since 2000 – compared to 38% for other housing-related expenses.

2. Renovation ready
Some 78% of households say their home requires repairs. Consumers plan to increase spending on home improvement in the next few years. 

3. Updated kitchens & finishes
Only 38% of respondents are satisfied with the kitchen in their home.

4. Aging-friendly homes
Our population is getting older – and people as they age want a home they can stay in.

5. Safe streets
More than one in five households – most in suburban areas – say their neighborhoods have become less safe in recent years.

6. Affordable housing
Nearly 40 million households in the U.S. are considered to have a housing “cost burden” because they spend 30% or more of their income on housing expenses. Nearly half of all renters fit in this category vs. 26% of homeowners (2013).

7. Privacy, please
Privacy is important to Americans, and that affects the type of home they choose and the location.

8. More space for more stuff
More than half of respondents said they are “always looking for ways to create enough storage space”.   Nearly half of movers want more space than they have.

9. Responsive landlords
With more Americans renting, having a good landlord that is responsive to maintenance requests is a growing priority.

10. Homes as investments
Despite the drop in home values, 77% of Americans think homeownership is an excellent investment.  Housing will continue to be one of the primary ways Americans build wealth.

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