There is always work to be done on your own house

Your own four walls are the dream of most people. Having something of your own and not having to deal with a landlord is a very tempting idea. Many people forget that you have different obligations as an owner than you have as a tenant. What is there to the saying that there is always something to do on a house? We went to the bottom of the matter.

As a tenant you pay a rent every month, as an owner you pay a credit installment. However, this falls away at some point, because the loan is repaid, and from this time you live cheaper. This is the very simplified view of things when comparing rent and ownership. However, no property can be used permanently without renovations and refurbishments. While as a tenant you are only involved in these costs to a small extent, they hit home in full for the property owner.

A typical example are the windows. While owners have to buy windows for house or apartment sometime, in a rented property it is the landlord's concern. The owner has to spend a lot of money in one fell swoop, and the tenant only feels the exchange via a rent increase.

With which costs one must calculate?

It is not possible to give a general answer to this question. And windows and roof need to be replaced only after many years. Nevertheless, as an owner you should keep an eye on these costs at an early stage. This applies in particular if one would like to decide for a used real estate.

More calculable are the costs that are regularly incurred by an owner. The maintenance of the heating, the chimney sweep and all repairs. If a kitchen appliance breaks down, you have to replace it yourself. If a faucet drips, you can't call a landlord.

In the advantage the real estate owners, who have a certain handicraft skill, and therefore some repairs can make themselves. Before signing a contract of sale, you should ask yourself if you have time and desire to always do something on the house or apartment itself.

House or apartment: a big difference

What's also important to keep in mind is that it makes a big difference whether you're buying a house or an apartment. While a house is in most cases a self-contained unit, apartments are generally organized as fractional ownerships. The latter means owning the building jointly with other owners. Therefore, some costs are also to be apportioned to the community. This mainly concerns the building envelope and the substance of the building. In the own dwelling one is responsible for repairs again itself.

One's house, after all, still includes the outside facilities as well. The garden needs to be tended. You certainly have to take care of the garbage cans yourself and in winter you have to remove snow and ice. All these tasks have to be done by yourself or you have to find a service provider who can do them for you. But this causes additional costs. What you do yourself when you're young may become more difficult when you're older. Therefore, you should always take into account that you will have expenses for services around the house after the repayment of the real estate loan. At least, if you want to stay in it as long as possible.

New property or used?

There are thus different cost factors which one should consider with the property. But where are the costs lower? Straight one if it around the purchase of a real estate goes places itself many the question which is more favorable under the line. Then not necessarily the acquisition costs plus ancillary acquisition costs are meant. Sooner or later, every property incurs costs that cannot always be avoided. How high these then turn out, however, can be calculated very well already at the beginning. In addition, a new building is not always the better solution. Because just if newest technology is installed, it can come later to high costs for maintenance, repairs or even exchange. Likewise technology is often more susceptible. That is why the cost and benefit factor should be taken into account when buying a house.

A research on repair or spare parts costs can already provide information in advance on any costs that may arise. So it may well make more sense to buy rather an existing property, which is at least not susceptible in the technology and thus later higher costs can arise. In addition, it does not necessarily have to be a house. Because just here one has to do the most. Just according to the motto: a house always makes work. From care of the garden, over the winter service which one must always make without change, up to editions of city and municipalities. A good consideration in the apron can avoid thus much annoyance and frustration.

What else is to be considered with a house or an apartment?

A fundamental "better" does not exist in this question. It always depends on the condition of the desired property. The already mentioned costs for repairs and the like should also be considered and kept in mind. In addition, when choosing between a house or a condominium, there is also the question of how much one likes to be a do-it-yourselfer. Because not for every task you can hire a craftsman, because this would go with the time enormously in the money. It is clear that above all at the own house so some things result, which must be made. These are then not only possible repairs, but also the everyday things. Once of installment payments for loans and co. Apart from that, there are many things that have to be done and may cause further costs.

If you like to be a do-it-yourselfer and enjoy tinkering, then you will certainly be able to cope with the tasks involved in building a house. However, if this is not your thing and you would rather keep these tasks to a minimum, the apartment is probably the better choice.

See the positive

So far, we've mainly looked at the more serious issues surrounding home ownership. But it is not only costs and work which a home causes. Of course there are also many positive effects. How to be your own boss in your own four. Here you have, for example, design freedom according to your own wishes and ideas, without the landlord must be asked for permission. Every change that is made to your own home, whether it is a house or an apartment, is only done out of your own desire. Thus there are also many positive reasons, which speak for the property. Always look at it from the positive side, but always keep the possible costs in mind.

Craftsmen when modernizing a house

Build up reserves as a buffer

So that possibly arising costs do not tear a too large hole into the cash, one should already provide early for reserves, which serve as a buffer for even such cases. Because what is valid in other private areas is also valid concerning the own home. In general, there should be about at least 3 months' salary as reserves for unexpected costs or the like. Through these it is then possible to be able to handle larger amounts without getting into financial bottlenecks.

The rates which are used for the formation of reserves do not have to be high. Even small amounts can make a difference. If this is pursued continuously, already short time a respectable amount can come together. Here it is not necessarily the amount of the savings rate that is important, but the consistent and regular routine. If you put something aside every month, you will reach your goal faster than you think.


It is true that owning a home comes with many responsibilities and costs. Also that there is always something to do is a fact. Nevertheless, of course, your own home also has many positive sides. If you factor in possible costs at the outset and always set aside small amounts as a buffer, you will have a lot of fun with your own home. So you are well prepared even for difficult, financial times.