Homestead

A homestead is a house (or an apartment) that you have inherited or bought yourself and which you occupy yourself. Legally, this is also called residential property.

In contrast to an investment property, you do not have any tenants, but you are the resident yourself and consider it your home.

 It can be a new building or an existing property. 

By the way, the home ownership rate in Germany is roughly 45 percent. This is far below the European average (70 percent).