A close look at your situation in life

Owning a home is the dream of more and more people even though it can limit your flexibility. Spend some time to reflect on your situation in life - can you accept these limitations given your job, lifestyle or personal traits?

Stability is essential

A person ready to own a home is someone who leads a life which is relatively stable and has rather predictable space requirements. Thus, ask yourself...

  • ...if you're the type of person who seeks stability or instead prefers constant change and variety
  • ...if a new job in another part of the country or even abroad might be in your future
  • ...if major changes such as getting married, having children, retirement etc. can be expected sooner or later, and whether your needs will likewise change
  • ...if you're willing to take on long-term financial obligations of a significant amount to the extent where you might have to make sacrifices

Demands of time and effort

Because there's no caretaker and because of the property surrounding a house, most types of homes involve more work than rental property (garden upkeep, minor repairs, etc.). Consider well whether or not you would like to make time for such tasks on a regular basis or perhaps have enough money to hand off this work to specialists.

Own home: Yes or no?