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What is “owner stress” and how to avoid it?

The owner’s stress is a terrible psychological condition to which property owners are subjected; this is caused by various factors, however, property damage, the inability to pay rent, or not being able to make a necessary repair are some of the main reasons.

In the UK, about 60% of owners suffer from this problem, although the vast majority are not even aware of it. Owner stress is becoming more common over time. According to studies conducted by a prestigious consulting firm, the people most likely to suffer from owner stress are men in the age range of 35 to 60 years.

In this article, we will tell you a little more about this terrible condition and how you can avoid suffering it.

Debts, Damages, and Stress

The vast majority of homeowners say their homes need at least a major repair, but they don’t have enough money to do it.

The situation becomes worse when it comes to essential repairs, which need to be done urgently or else they can cause irreparable damage to the property. For example, a small crack in the wall can cause major damage and cause a collapse that can end up being a real catastrophe.

Mortgages and rent are another important factor. Debts cause owners a greater level of stress than any other problem. On the other hand, family expenses represent another concern for homeowners. Medical expenses, personal debts, or not being able to save some money can cause a person to start developing owner stress as well.

Either way, this terrible mental condition can seriously affect the health of the sufferer. The most common symptoms may be headaches, irritability, insomnia, and lack of appetite.

In the worst case, owner stress can cause severe depression and major emotional changes, so it is recommended to be treated immediately before the most dangerous symptoms occur.

How to avoid owner stress?

Most of the problems that cause owner stress are things that can be easily prevented or solved, for example, property damage can be detected on time through a property survey; while money problems can be avoided thanks to financial planning.

Some of the recommendations to avoid owner stress are:

Request property surveys frequently.
Do not ignore small problems; it could cost you a lot of money in the future!
Know your payment plan perfectly; avoid falling behind with your rent or mortgage
Save money for future repairs your property needs.
Give priority to the most damaged areas of your property (if more than one).
Seek the advice of true experts, avoid those who offer to do repair work for “low price.”

Following these recommendations, you can avoid suffering from owner stress, and you will be better prepared against any unexpected problems that may affect your property.

HICH LTD is the leading company in the property survey sector, we offer the best survey service in the UK and we have a team of experts ready to meet your needs.