Transaction costs as a barrier in the renovation decision-making process: A study of homeowners in the Netherlands
| Autor: | Queena K. Qian, Henk Visscher, Shima Ebrahimigharehbaghi, Frits Meijer |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Transaction cost
Architectural engineering Homeowner Renovation Transaction cost (TC) business.industry Energy efficiency renovation 020209 energy Mechanical Engineering 0211 other engineering and technologies Information barrier Effective management 02 engineering and technology Building and Construction 021105 building & construction 0202 electrical engineering electronic engineering information engineering The Internet Electrical and Electronic Engineering Decision-making business Stock (geology) The netherlands Civil and Structural Engineering Efficient energy use |
| Zdroj: | Energy and Buildings, 215 |
| ISSN: | 0378-7788 |
| DOI: | 10.1016/j.enbuild.2020.109849 |
| Popis: | The renovation of housing stock in the Netherlands has the potential to help achieving the country's climate change targets. However, there are non-monetary Transaction Cost (TC) factors, such as searching for information and finding a reliable professional/contractor, that present barriers to householders when making the decision to renovate or not. This study evaluates the impact of the transaction costs on the renovation decision-making process for two groups of householders, current renovators and potential renovators, and for three types of renovations, exterior renovations, interior renovations, and energy efficiency renovations. The study analyses householder renovation decisions in relation to TC barriers at different stages of the renovation processes. The data was collected from a survey of 3,776 homeowners in the Netherlands. The main identified TC barriers were found to be at the consideration, decision, and execution phases of the renovation decision-making process, and are: finding a reliable professional/contractor to do exterior renovations, determining costs for interior renovations, and finding ways to increase the energy efficiency of the house using energy-saving renovations. The main sources of information for householders are construction stores/Do It Yourself (DIY), installations and maintenance companies for exterior and energy efficiency renovations, while for interior renovations it is construction stores/DIY companies, Internet, and recommendations from family/friends. The findings from this study contribute to more effective management and distribution of both information and financial resources in relation to the renovation of housing stock. |
| Databáze: | OpenAIRE |
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