Investigating the Impact of Tenancy Type on Levels of Optimism, Satisfaction and Happiness

Background: The current study sought to determine the degree to which well-being (as measured through optimism, life satisfaction and subjective happiness) is impacted by tenancy type (homeowner, renter, living with family). Confidence levels were recorded to determine whether renters who wished to buy a property had less confidence in their ability compared to those living with family. Method: A sample of individuals residing in Ireland was recruited (n = 214) through convenience sampling. A cross-sectional approach was utilised. A self-report questionnaire was published online containing demographic questions along with the Life Orientation Test Revised, Satisfaction with Life Scale & Subjective Happiness Scale. Results: Homeowners did not exhibit higher levels of optimism or subjective happiness, but did exhibit higher levels of life satisfaction. Renters who professed an intention to buy a property exhibited significantly less confidence in their ability to do so, compared with those living at home. Conclusion: The findings from this study suggest that while homeowners are relatively satisfied in life, there are a growing number of renters under increasing pressure in the marketplace who have a reduced confidence in their ability to become homeowners themselves. The implications for this are considered