The Subjective Value of "Home" to Older Homeowners

Older individuals generally report a high level of housing satisfaction with their current homes and seldom wish to move, yet most objective measures of the physical quality of their housing suggest that their residential situation is often far from desirable or adequate. The purpose of the present study was to investigate whether a group of subjective values could be identified which might provide a better understanding of the meaning of "home" to older persons. Using factor analytical procedures, four factors were found: (1) traditional family orientation; (2) cost vs. comfort trade-off; (3) status value of homeownership; and (4) competence in familiar environment. Results are discussed in regard to the implications of these subjective-value factors for both public housing and relocation counseling.