Property Properly 

Welcome back folks.  Today I wanted to talk about land and property, how things have changed over the years with regard to the rising popularity in rent and the changes in mortgages offered by the banks. 

More and more people these days, it seems, are looking to the concept of buying land or property as a means to furnish themselves with a more secure future.  Much of the modern world as we know it, has become a place of general uncertainty.  In turn, this has bred a lot of negativity, fear and something of a state of panic when it comes to people planning for their future or simply providing a secure environment for their families.  There’s an increasing amount of distrust towards the banks, and rightly so, and people are starting to look at alternative options for peace of mind and in turn, a brighter future.  Land or property investment has always been a sure fire method of achieving this.  While not completely watertight, it’s a good a bet as any in this era of doubt and uncertainty. 

Property 

The more people I speak to these days, the more sure I am that this is the way forward.  People in their thirties and forties whop possibly already have a family home are seeking out second, sometimes third homes with a view to renovating them, and making them presentable and suitable as a renting option.  They see it as something that, once achieved, will take a lot of pressure off their day-to-day lives and will allow them to focus more on their real priorities and engage better with their family and friends.  The only other huge plus is that there is a ready-made market just waiting to utilize your second property.  This is also however, for unfortunate reasons.  Over recent years, more and more people have turned to renting as a housing option over obtaining mortgages.  For many, it’s not even an affordable option.   One example would be the younger generation of Australia (late teens to early twenties) who, as it’s been reported, have absolutely no chance of setting foot on the housing ladder.  

Long Term Mortgages

I remember being truly shocked thirteen or fourteen years ago, just before I left England, that mortgage lenders were offering younger people 100 year mortgages, (I believe the average in recent years had settled around 140 years) just to make it an affordable option for them.  I remember feeling depressed at the very idea of such a concept.  The idea, obviously, was to allow people to not only get on the housing ladder in a basic sense, but to encourage them to see that they might deserve a little better.  Properties that were otherwise something of dreams were available to ‘own’ under this new affordable and very generous plan, though of course in reality, they would never own such a property.  The real idea was that the debt would be passed onto their children, and then to their grandchildren, great grandchildren and so on.  This whole scheme of course was a tidy little deal for the bankers, and absolutely fatal for the young buyers, who were still starry-eyed under the gross misconception that they were to become successful homeowners.

Mortgages 

I haven’t returned to England for over twelve years so I’m not sure of the current state of play there, other than after reading an article as recently as last night, it appears that one local council in the Midlands has passed a bill that will enable them to ‘fine’ homeless people for sleeping on benches.  I’m also told on a regular basis that for young people in Australia things are deteriorating at a ridiculous pace.

Yet, considering this is 2016, I can’t help but feel that all this is incredibly sad and unjustifiable.  I also suspect that this is the reason that so many people are upping sticks and re-locating to more affordable countries that go hand in hand with having simpler lifestyles, just for the peace of mind that it brings.  My own parents for example, sold our family home just one year after I left and re-located to the south of Spain.  They settled for a smaller property with a view to also buying a second property down the line for their own financial security.  The place they chose couldn’t have been more appropriate for a retired couple in their sixties.  It was located in a safer environment, in a relatively inexpensive small Spanish village and had them reveling in the fact that they now had warmer weather while a visit to the golf course or the beautiful Spanish coast was little over half an hour away. 

Mortgage risk

If this has whet your appetite somewhat for something similar, I’ve found a great online classified ads website which offers all sorts of enticing properties in Spain and of course other countries.  Check out http://www.for-sale.co.uk you might be surprised.  Anyway, thanks for reading, until next time..