You've got it, ben146, it's this little thing called "pride of ownership." 

When we rented for 6 years in Calgary, the Landlords were 2,000 miles away and it was "out of sight, out of mind." Amazing phenomenon for us, as renters.  We really felt the urge to repaint, do minor repairs and things and laughed and said, "hey! We we're only renting! Screw it."  Talked to landlords once about buying the place.  Oh, man!  The improvements we would make: develop the basement, maybe. Garage in the back. New patio or deck.  Then we thought of the dollars that would take. Wow!  Moved out instead, bought a nearly-new place that was absolutely right--not one buck in "Improvements" or renovations needed. All done (developed basement, built-in shelves in the garage, storage bins, big deck umbrella, barbecue)...all part of the price of the home. 

So now we have a lot of pride...In what we DIDN'T spend in and on a house.