Is Home Where the Heart Is?
By Sam R on May 06, 2015
We’re taking a look this month on our blog at some of the reasons buyers go for what they go for — what seems simple on the surface (“I just like open concept living”) can actually have some deeper roots. But beyond even that, there is a great deal of psychological observance behind just about everything to do with that thing we call “home.”
Remember that Paul Young song from the ‘80s? Wherever I lay my hat, that’s my home. That may be true if you’ve got some gypsy blood in your veins, but for many of us “home” is fraught with memories of our childhoods, good and bad, tied to a feeling of security now that we’re adults, and where we’re from can influence a host of major and minor decisions throughout our lives.
Think about what we see driving through a typical suburban neighbourhood: an endless sea of front lawns, and not one of them in use. What’s the purpose? Since many of us, even subconsciously, see our homes as extensions of ourselves, these oft-unused spaces send a message. We can afford to have land we’re not using. We take good care of our lawns because we value ourselves. And, in an increasingly crowded urban environment, we like to remind people that what’s ours is ours. We have arrived. We grew up, got a mortgage, bought into the social norms that make us seem valuable. We all know people who have way more home than they need. Like a Lexus or a Mercedes, which, let’s face it, is way more than transportation, owning a nice home with a big green lawn fuels our self-esteem — it’s tangible evidence of our worth that even the neighbours can see.
As “happiness” becomes an increasingly well-plumbed area of research, we’re discovering that the old conviction that the One True Path of homeownership is evolving. Do we really need to cut back on vacations and dining out in order to save up for that 6,000 square foot home? What if 1,200 square feet or even 700 square feet suits you just fine?
In their book, “Happy Money: The Science of Smarter Spending,” Harvard Business professor Michael Norton and University of British Columbia psychology professor Elizabeth Dunn think we should spend our money on quality of life.
“People still view housing as a central component of happiness and a critical aspect of ‘The American Dream’,” Dunn told the New York Times. “But there is little research to support that.”
Couples and families buying homes at the Main Street Seaton Preview Opening
In fact, research, including some done in the early 2000s by a team from the University of Virginia and Harvard, say that living in a “desirable” home in a centrally located neighbourhood didn’t make college students any happier than those assigned to less desirable housing. While there may not be a direct correlation between college students and us grown-up consumers, what the study backs up is the notion that the quality of your social life matters more.
A European study started in the early ‘90s included more than 3,500 people who moved to new homes because they didn’t like something about their old ones. The study took place over more than 15 years. They found that while the homeowners reported greater satisfaction in their homes (at least for the first five years), they reported no greater satisfaction in their lives.
Naturally, I’d be the last person to discourage homeownership. I believe in it, but not because of what it tells the neighbours or affirms about your parents’ definition of success. Homeownership for homeownership’s sake doesn’t improve your quality of life. The right home for you does.
Live in the city if you’re going to take advantage of everything it has to offer, and don’t let the “bigger is better” notion fool you. A small condo with the right features can do more for your happiness than a big suburban home that entails spending 40 extra minutes in the car each day.
This is where features can come in: a walnut floor versus a pine floor is unlikely to change your quality of life, but a dishwasher can free up half an hour of your time that you can spend in a better way. A well-designed kitchen can bring pleasure to a home cook with every meal. If you love backyard entertaining, get a big backyard. If you hate raking leaves, get a condo. If you worry about your budget, spend less.
Dig deep and figure out what you want from your life before you figure out what you want from your home.
Enjoy this month’s blog posts. We look forward to your comments!
