home ownership
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home ownership
A property, such as a house or apartment, that belongs to the person who lives in it.
Der Erwerb von Wohneigentum ist für viele ein wichtiger Schritt zur finanziellen Absicherung im Alter.
Acquiring home ownership is an important step for many people toward financial security in old age.
The word is made up of 'wohnen' (to live/reside) and 'das Eigentum' (property/ownership). So it describes property—a house or apartment—that is used for living in.
Sie träumen davon, eigenes Wohneigentum zu besitzen.
They dream of owning their own home.
'Wohneigentum' (home ownership) is a rather formal and official term. You often find it in contracts, news reports, and political discussions about real estate.
Die Regierung plant eine neue Förderung für den Kauf von Wohneigentum.
The government is planning a new subsidy for the purchase of residential property.
Common verbs connected with 'Wohneigentum' (home ownership) are 'erwerben' (to acquire), 'schaffen' (to create), 'besitzen' (to own), and 'fördern' (to support/promote).
Viele Familien möchten für ihre Kinder Wohneigentum schaffen.
Many families would like to create home ownership for their children.
own home
Eigenheim refers personally to a home that one lives in oneself and often suggests owning a house. Wohneigentum is the broader, more formal term for a property one owns and lives in, explicitly including an apartment. Eigenheim is usually more suitable in personal everyday conversation, while Wohneigentum fits general statements.
Mit der selbst bewohnten Stadtwohnung hat die Familie Wohneigentum erworben.
By buying the apartment in the city and living in it themselves, the family acquired a property of their own.
Mit dem kleinen Haus am Stadtrand hat sich die Familie ein Eigenheim geschaffen.
By buying the small house on the outskirts, the family created a home of their own.
