Rent a house or buy/build? How did you decide?

Look, this is such a naive calculation. You yourself noticed the issue with the special repayment.

You must not also omit the equity.

And then you're already at 1300 annuity + 70k equity (just as an estimate) which also first has to be tied up outside more lucrative investments + the reserves for maintenance + X.

Does that really stand up to comparison with rent for equivalent properties if you calculate honestly? Usually not.

That’s why the purely economic viability only exists for people who lack savings discipline without the loan agreement.

A house is only really suitable as retirement provision in one case: built age-appropriate with enough equity so that at retirement it’s debt-free and still several years away from the first major maintenance investment.

But those who finance over 20 - 30 years afford a luxury item, but not retirement provision. That’s okay if you admit it.

The question is whether you come out better if you invest the savings.

But everyone has to decide that for themselves. You can't just say "Hey, there is product X on the stock market that yields juicy returns, so building never pays off." I'm the type of person who wouldn't invest in stocks and the like anymore (even though I made good money with them during my student days). This kind of investment is just not for me at all. I would basically stuff my money under the mattress. And let's be honest: very few people are disciplined enough to save 200k or more in equity. For most, a clear comfort buffer is reached at 50k and they start spending their money. In our case, we are now saving 350k over 26 years. I would never ever manage that, and I am already very frugal. So if someone asks whether it is worth building or renting, we would have to say "That depends on you ..." Ultimately, however, almost every homeowner will answer the question (if they are honest): Because they wanted to build/buy. Investing money is rather secondary. More important is the feeling of now paying "for oneself." To have something of one's own.

Rents are rising. But the costs of ownership are increasing even faster.

if I own property, rising rents and/or construction costs don't matter to me. Through clever financing with an interest rate surcharge (I am risk-averse after the stock market disaster) you have 20 years of peace and a constant expense in the form of the annuity

But everyone has to decide that for themselves. You can't just say "Hey, there is product X on the stock market that yields juicy returns, so building never pays off." I’m a guy who wouldn’t invest in stocks and the like anymore (even though I made good money with them during my studies). This kind of investment is simply not for me at all. I would basically stuff my money under the mattress. And let's be honest: very few people are disciplined enough to save up 200k or more in equity. For most, a clear comfort buffer is reached at 50k and they start spending their money. In our case, we are now saving 350k over 26 years. I could never manage that by any means and I am already very frugal. So if someone asks whether it’s worthwhile to build or rent, we would have to say "That depends on you..." Ultimately, almost every homeowner will answer that question (if they’re honest): Because they wanted to build/buy. Investment is rather secondary. More important is the feeling of now paying "for oneself." Of having something of one’s own.

Correct, and as I have explained, Germans have no desire to invest. Investing costs time and nerves and very few have those. The typical German goes for overnight or fixed-term deposits. Then building society savings contracts. Alternatively property, and way, way in the back, the stock market.

Correct, and as I explained, Germans don't feel like investing. Investing takes time and nerves, and very few have that.

Well. The high-risk area does that. A fund usually doesn't. Set up a savings plan, forget it, remind yourself once or twice a year and take a look. Done.

Such questions can only trigger an endless discussion

In short: Everyone should decide for themselves (also calculate) what would be best for them, what they can afford, whether building, buying, or renting.