More living space. A reliable real-estate asset for the unknown future. And so on. But on the other side: freedom and independence and money in cash. Owing a residence has many advantages, but so does renting. Which one is better?

For many living in a home they own is a life-long dream. Especially for families with children, buying of a residence means above all a good standard of life. It also equals to personal security and an insurance for old age (that's after one has finally put down the mortgage of course).

But before you dive in, reconsider your current situation. Maybe you will find out that renting a house or a flat is the better option for you. Tenants also enjoy many advantages the owners don't. They are flexible and can take the chance for switching job places or take a higher position in another city or country. If they want to, they can relocate much easily. They don't need to bother about care taking of the property - if the roof leaks or the heating is suddenly out of order, it's the landlord's job to fix this. However the flexibility usually is the strongest argument for people, above all when they are single or in a relationship without children, to choose renting above buying, even if they can afford to buy.

If, on the other hand, you plan to live in the same place for at least the next ten years, and you have a secure job in addition, you will most likely feel better in a place of your own than in a rental residence. Besides, in some cases buying is more advantageously. Even when taking into account the fact, that buying is about 20 to 30 per cent more expensive than renting the same place for the first 15 to 25 years! And, between 15 and 30 per cent of the price when buying consists of notarial and other taxes. Those money is "lost" for you when you sell the property on a later stage.

When compared in long-time terms, buying has also has the advantage of pre-fixed credit or mortgage payments, while rents vary over time, and the variation is always in getting higher and higher. We have exactly the opposite case when comparing the costs for repairs and care taking. Especially if you bought an older house, the expenses for renovation can be four times than what you would pay just to modernize a rental flat.

If you want to buy a place in order to sell it in the near or not so near future, you have to pay special attention to two factors: location and energy effectiveness . Both factors and their future development should be taken into account, if you want to make a reasonable profit.

A few more word at the closure about the global market situation, Her Emperor Majesty The Global Economic Crisis, and the decision on buying or renting. The good news is that this is exactly the right time to buy a property, because the prices are very low, as are the interests for taking a bank credit. The bad news is that more and more factories and companies bankrupt, unemployment increases progressively, so nobody jobs is secured.