
Buy or rent: Why is it worth buying?
Over the past two years, prospective buyers have often been deterred by rising living and financing costs, despite falling property prices. Although interest rates for real estate loans have now stabilized again at between 3.2 and 3.6 percent, many prospective buyers are still hesitant to purchase property.
Keep an eye on individual factors and current market developments
It is impossible to say in general terms whether renting or buying is more economical in the long term. The right decision depends primarily on your individual financial situation and your own possibilities. In general, it can be said that the conditions for both options have deteriorated. Anyone looking for an apartment or property should definitely keep an eye on current developments in rents, purchase prices, and interest rates. It may be worthwhile to consult a real estate agent early on who can advise you according to your individual situation.
Renting: flexible and, above all, affordable?
Renting offers flexibility and the freedom to move wherever you want without committing yourself long term. Tenants often benefit from lower ancillary costs and are not responsible for property maintenance. However, it should be borne in mind that rents tend to rise. Renting also means accepting certain restrictions: for example, you have limited influence on renovations and must comply with the landlord's specifications.
Ownership: individual and cheaper in the long term?
Owning a property offers a different kind of freedom: you can design and change your home exactly as you wish. Renovations and modernizations can be carried out according to your personal preferences and financial possibilities. Once the loan is paid off, you can enjoy the benefits of rent-free living into your old age. In addition, your own home remains a stable investment that contributes to building up your assets. If the location is good, you can even expect an increase in value.
How to make the right decision
In addition to your finances, think about where you would prefer to live. Would you prefer a city with higher costs or a rural area with generally lower property prices? Also consider whether an apartment is sufficient for you or whether you would prefer a house. Also take your professional situation into account. Do you need flexibility and frequent changes of location, or do you prefer stability and want to finally settle down in your own four walls? A real estate agent can help you explore the offers in your region and advise you on the decision between renting and buying.
Are you looking for a new home? Then get in touch with us! We will be happy to advise you.
Notes
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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