Living in a rented or owned home - a question of lifestyle?

Whether people live in rented or owned property depends on many factors and is also a question of lifestyle. In Germany, about half of the people live in rented accommodation, the other half in property. In a European comparison, Germany ranks second to last, ahead of Switzerland.

The home ownership rate also varies greatly when comparing the federal states. Saarland tops the list with 64.7 per cent homeowners, while in the eastern federal states the rate is traditionally very low. Berlin records the lowest value with 17.4 per cent. Hamburg with 23.9 and Bremen with 37.8 percent also have fewer homeowners than elsewhere. Most of the western Flächenländer have values of over 50 percent.

Traditional habits may arise from these differences. Those who spent their childhood in a detached house with a garden may want the same for their own children. Rootedness in the home country also plays a role. If you grew up locally, work there and have a family, you may be able to count on family land or the help of friends in building a house. If, on the other hand, you have a job that requires you to move around a lot, and you want to be unattached and get to know new things, you will probably prefer to live in rented accommodation.

Precisely because renting is the predominant form of housing in Germany, tenants do not experience a loss of status and can rely on legally secure housing conditions. And what about the financial situation? Who fares better in the end? A financial journalist for the Frankfurter Allgemeine Zeitung never tires of railing against owner-occupied housing. He knows many reasons why home ownership should be a milkmaid's calculation. One of them, he says, is the renovation costs, which would entail financial obligations all over again after the mortgage has been paid off.

An unbeatable reason for building home ownership is the associated wealth accumulation, which can still benefit future generations. According to a representative survey commissioned by ImmoScout24, two-thirds of full-time employees are convinced of this. Wanting to own a house or flat is particularly common among young people.

(Photo: © Fabian Holtappels, Pixabay)