05/12/2020
How does where you live affect life satisfaction?💚🏡
It’s a well-known fact that London is one of the most unhappy places in the UK. The gap between the wealthiest residents and the poorest can exacerbate anxious and unhappy feelings and the capital is constantly ranked one of the most unequal cities.
We have seen that economic equality positively correlate with personal well-being. You may be wondering what life satisfaction has to do with investment, but what if these factors actively influence where people live? Should you be considering areas with good levels of personal well-being for your next investment and how do you uncover those areas?
Commuter towns VS Cities
City life is typically busy and fast paced. Although they may be green spaces, they are often crowded on sunny days and overshadowed by towering buildings. Aside from the very wealthy, people usually rent or buy smaller living spaces, often without a garden. Heavy traffic and the pollution that comes with it affects air quality, surroundings, health, and great buildings.
On the contrary, towns and villages offer quieter a way of life. It is rare they would have restaurants offering cuisines from around the world, and a range of museums, galleries and theatres would be smaller. Also, public transport is not as extensive and does not run for 24 hours as it does in some cities. That aside, there are some benefits which help people’s wellbeing. People get more for their money in terms of property and have more space and towns and villages are generally less populated which lends itself to a more peaceful environment.
There are positives and negatives for both living environments, but it is important to establish the kind of tenants you wish to have when choosing areas to invest in.
*Your home may be repossessed if you do not keep up your repayments on your mortgage*
