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A decision that many people only make once in a lifetime: buying a property. Endless calculations, constant pros and cons and restless nights before the final decision - that's how most people feel when faced with the question: Should I rent or should I buy straight away? Unfortunately, we can't make this decision for you, but we know the right questions to ask so that you can find your personal answer.

The family is growing, the grandmother's inheritance is imminent or the next step on the career ladder has been signed - the new chapter before the next move reads like this or something similar. However, the actual needs that are to be met with a new house or apartment are often very different. 

Rent or buy: Which questions are really decisive?

The dad-to-be needs more space for the family, the young heir doesn't want to leave his or her money in a savings account and the new manager is looking for a sensible investment and a smart retirement plan. People are driven by very different motivations when searching for their next dream property. The right questions help them to make the fundamental decision: rent or buy? 

How important is flexibility to you?

At first glance, renting an apartment offers more flexibility. If you need to expand your living space or relocate, you can simply look for a new rental apartment that better suits your needs. However, renting also has its limits when it comes to flexibility. In urban areas in particular, there is no end to the number of rental apartments that suit your taste. There is also the danger of constant price increases - which, especially in Vienna, hover over the rental market like the sword of Damocles due to population growth and a simultaneous shortage of supply.

Owning your own property, on the other hand, makes you more immobile, as the word suggests. After all, once you have settled down in your own four walls, it seems more difficult to part with your beloved home. However, once fundamental questions in life have been clarified and financing has been secured, ownership can be the better choice - especially in sought-after locations where, thanks to good building quality, a continuous increase in value can be expected in addition to personal residential happiness. 

Have you ever thought about the repairs?

In the case of rented apartments, many repairs and maintenance work are the responsibility of the landlord. However, if it is your own property, the costs fall back on you. A faulty water pipe and a broken boiler can be quite expensive. In such cases, owners should always set aside sufficient capital to be prepared for any major or minor repairs without any worries.

That's why it pays to focus on quality from the outset, especially when buying a property. The good news is that with Glorit you are on the safe side in this respect. This is ensured by our various teams of experienced professionals, who take care of every step from the purchase of the plot to planning and construction through to completion, ensuring that the end product is impeccable and protecting you from unpleasant surprises later on.

How much creative freedom do you need?

Have you always dreamed of a modern kitchen island or does the bathroom need new tiles? Tenants in particular often come up against certain limits when it comes to self-realisation in the interior. If you want to move a wall after moving in, for example, or design the bathroom and kitchen according to your own ideas, this usually requires the landlord's consent. In addition, these investments are rarely compensated financially and often have to be dismantled again when you move out.

It's completely different with your own dream property. Here it's up to you to be the construction company, kitchen planner or plumber. It is even better if you are involved in the design right from the start. With Glorit houses and apartments, you can choose from exclusive equipment lines from renowned brand manufacturers, depending on the construction phase.   

How realistic are your calculations?

Ongoing costs for owners - such as repairs and maintenance costs - must always be included as a buffer when buying a property. In addition, there are additional costs when buying an apartment or house, such as land registry entry and estate agent fees, as well as ongoing ancillary costs such as energy and water costs, insurance and land transfer tax.

Not to mention the cost of a property loan itself, unless you are financing your new home 100% from your own funds. In recent years, the framework conditions for property financing have changed due to the KIM regulation, so those who seek good advice are well advised. Online financing calculators provide an initial rough estimate of what you can (or cannot) afford. However, they are no substitute for an appointment with a financing expert. 
 

Rent or buy? 

Questions upon questions and at the end of the day you're still not sure? Then postpone your decision and think about a rental apartment with an option to buy. Glorit offers an exclusive selection of rental apartments with an option to buy, which currently start from a gross monthly rent of EUR 1,190.