On the online portal hausberater.de of the "Unabhängige Bauherrenberatung zur Begleitung bei Planung und Hausbau", the experts draw up a comparison regarding the financial advantages of buying a house or living in a rented house. Since this decision depends on very many factors, no clear statement can be made per se, which model brings the larger advantage. If we use an example to compare the costs of buying a home with the costs of renting, we see that there is a slight financial advantage to buying a home. The example is based on a financing or rental period of 20 years.
Anyone buying a house has to factor in other costs in addition to the purchase price. These include the ancillary purchase costs, the real estate loan and the equity capital, as well as the repayment and interest rate and the financing period. The interest on the loan and the repayment make a financial difference compared with living in rented accommodation. With a repayment rate of 3 percent and an interest rate of 1.3 percent, the accruing loan interest is considerably lower than the average rent. What's more, when you buy a property, the payments later flow back into your own pocket, so to speak. The property has a tangible value in the long term.
But not to forget the financial expenses for the maintenance of the house and for various insurances. These costs are not incurred with a rented apartment. A sample calculation over a period of 50 years shows that investing in a single-family home is more profitable than renting an apartment when interest rates are low. If construction interest rates or mortgage rates rise to six percent or more, for example, the calculation can quickly change and living in a rental property can actually become more affordable. The development of real estate and rental prices always plays an essential role.
Source: hausberater.de
© photodune.net
