Germany
Should I buy or rent a home in Germany?
If you have not spent a lot of time in Germany, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"When considering buying vs. renting a home in Germany, the decision comes down to personal preferences and financial abilities. The deciding factors may include lifestyle preferences, the length of stay in Germany, the availability of sufficient funds for a down payment, and the ability to cover ongoing maintenance costs. Purchasing a home in Germany can be rewarding in terms of wealth creation, lifestyle, and pride of ownership, but it requires considerable financial commitment. Alternatively, renting a home can provide the flexibility of continued mobility, the freedom from ongoing maintenance costs and the ease of relocating when necessary. Ultimately, the decision between buying and renting should be made carefully and the factors should be weighed to determine the best option depending on individual circumstances," remarked another expat who made the move to Germany.
"We did buy an old house in East Germany, Nordhausen, and we got very ripped off when trying to sell it. We had to practically give it away in order to get rid of it. It needed too much work and did not like the locality. It's easy to pick up a cheap house in East Germany, but then you must do a lot of work on it and as I said, selling it again is a no go," explained one expat living in Eifel , Germany.
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Other Questions:
- What do I need to know before retiring in Germany?
- How do I meet people in Germany?
- What is life like in Germany?
- Is there a lot of crime in Germany?
- Is there a lot of diversity? Are people in Germany accepting of differences?
- What are the schools in Germany like?
- Is the cost of living in Germany high?
- What advice do you have for expats having a baby in Germany?
- What are healthcare services like in Germany?
- Is the cost of living in Germany high?
- What type of recreational facilities are in Germany?
- What is the weather like in Germany?
- Are there good restaurants in Germany?
- Where will I buy groceries and do other shopping in Germany?
- What are the visa & residency requirements in Germany?
- Are healthcare and health insurance expensive in Germany?
- What do I need to know when buying property in Germany?
- Are foreigners allowed to own property in Germany?
- What appliances are typically included in a rental?
Should I buy or rent a home in Germany?
If you live in Germany, newcomers to Germany would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
