Age isn't important. It depends on your life situation.

Real estate: More expensive in the short term – but cheaper in the long term?
Despite lower purchase prices and rising rents, a study has found that buying property is not currently worthwhile for the average household. Even with a 20 percent increase in rent, buying a house would still be €381 more expensive than renting, according to Der Spiegel, and therefore not profitable for average earners.
Is buying a house really unaffordable?
The study by credit insurer Allianz Trade, to which the article refers, concluded that it is rather unlikely that private "home builders" will pull the construction industry out of its slump in demand. This is because, despite lower prices, they cannot afford to buy a house. The purchase of real estate is also not a realistic option at present due to high interest rates on loans. An easing of the interest rate situation is hardly to be expected, even with simplified building permits.
Why buying a house is still worthwhile despite the changed market dynamics
Construction costs are high, interest rates are rising, and inflation is putting pressure on purchasing power. In times like these, it may be tempting to put the dream of owning your own home on the back burner. But there are good reasons why now is the time to buy a house. Real estate prices have fallen significantly in recent months. This is because high interest rates and construction costs are dampening demand for real estate. For buyers, however, this means that they can now get in at more favorable terms than just a few months ago. Although experts do not yet expect the construction slump to end, it may therefore be worthwhile to buy a house right now.
Ownership instead of rent: Why now is the right time to buy
In addition, living space in Germany is still in short supply. There is a shortage of apartments in many regions, especially in metropolitan areas. This leads to high rents and a growing housing shortage. Buying your own home means you are no longer affected by this problem. Real estate is considered a safe investment. It generally retains its value and can increase in value over time. This makes it a good retirement provision. In addition, owners can rent out their property and thus generate additional income.
Requirements for buying a house
If you have sufficient equity, a stable income, and a good credit rating, you should not deny yourself the dream of owning your own home. To ensure that such a decision is a success in the long term, you should prepare well. It is therefore advisable to seek advice from a local real estate agent to ensure that the purchase of your home is a success in the long term. A real estate agent you trust knows the current market trends and can therefore provide you with expert advice. They can also assist you with financing, selecting a property, and all other important issues relating to buying a home.
Are you looking for a suitable property? Contact 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 have the facts of your specific case clarified by a lawyer and/or tax advisor.
Photo: © damedeeso/Despositphotos.com