Owner-occupancy

A house is usually the most expensive single purchase an individual or family makes, and often costs several times the annual household income.

If the home owner fails to meet the agreed repayment schedule, a foreclosure (known as a repossession in some countries) may result.

Some home owners see their purchase as an investment and intend to sell or to rent the property after renovating or letting the house appreciate in value (known as flipping if done quickly).

In order to improve their physical and mental well-being as well as their level of life satisfaction, they have a motivation to preserve or raise the value of their properties.

Conversely, renters are incentivized to view local issues through a narrow lens, could be unmotivated to participate in civic life, and could see themselves as having little social utility.

[3] Compared to renters and absentee landlords, owner-occupiers are sometimes seen as more responsible toward property maintenance and community concerns, since they are more directly affected.

Data from the UK supports the idea that homeowners view the value of their home as a kind of private, informal insurance policy against economic shocks.