Could buying a property seriously harm your health?

[By Admin on June 27, 2016 with 01 Commnets]

RENTING utilized to be a filthy word in the 60s and 70s. You either lived in a Rigsby Rising Damp-style bedsit with wood chip on the wall and a coin-operated electric meter that buzzed in the night, or you lived in a council house.


In the latter part of the 20th century, the British were convinced that rent payments were 'wasted money'. Owning typically makes less monetary sense than leasing and, as the rate of home ownership begins to drop substantially as we roll the clock forward to today, there is no stigma at all to renting ... everyone is doing it. In fact, of the 251,267 residents of Derby, 86,056 of you lease your house from the local authority, housing association or personal landlords suggesting 34.2% of city folk are tenants.

The idea of home ownership is deeply embedded in the British soul. 161,183 Derby people live in an owner-occupied property 64.1%.


As more and more individuals are leasing nowadays, are we turning to a more European way of living? I believe, as a country, we are. Home ownership might be impacting your health. The UK, according to Bloomberg, is only the 21st healthiest nation worldwide. Germany is at number 10 and Switzerland at number 4, with own a home at 53% and 44% respectively. In the UK it is 65%.


In the Derby City Council area, 68% of homeowners stated they were in "excellent" or "good" health while 8% said their health was "bad" or "extremely bad". Taking a look at leasing, the census divides renters into two types 70% of Derby regional authority/social tenants stated they were in "great" or "excellent" health and 11% were in "bad" or "really bad" health.


At the same time, private leased tenants in Derby were the healthiest, as 87% of them described themselves in "excellent" or "excellent" health and only 4% remained in "bad" or "very bad" health.


I'm not recommending that low home ownership rates in Switzerland and Germany are straight linked to health, nor do I anticipate Brits to go to Berlin or D sseldorf and realise how delighted people are when they do not have the stresses which accompany home ownership. I do believe that a lot of the benefit to home ownership in current years has actually been a function of monumental increasing house rates.


Renting is here to stay in Derby and it's growing incrementally each year. Even with the new tax guidelines for property managers, buy-to-let is still an investment alternative. There has never ever been a much better time to invest in property in Derby, but buy wisely


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