Senior age: Should you keep or sell your property?
Questions about living in senior age are of particular concern to property owners in the second half of life. Is my house right for my age? Do I want to stay in it, can I stay in it, would a retirement home be better? For some people, their health may necessitate assisted living or moving to a nursing home. Others may be making plans for a retirement apartment share or retirement abroad. Home ownership comes with various options many are not aware of. It is worth discussing your options with experts as early as possible.
Moving becomes difficult as you get older
Moving from home is often difficult for older people, many people only move when under pressure to do so. Gardens, stairs and long passageways become too much, or the mortgage unsustainable. This is a shame as a new start, chosen and not forced upon you, can bring joy and be rejuvenating. Without the pressures of time and cost you can focus on realising other life projects.
What is the ideal living situation for me in old age?
Even in senior age, people’s housing needs, desires and personal situations vary individually. As a property owner you have a clear advantage: You have numerous possibilities. Our checklists and guides will help you decide what is best and evaluate the pros and cons of the 4 main options: Staying, renting, bequeathing or selling.
Documents and links
We made the decision to sell our house, which had become too big, and exchange it for a comfortable new apartment.
Liss und Markus Schnider Sellers of a property
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Frequently asked questions (FAQs)
At what age should I look into selling my home?
After the age of 50, forward-thinking property owners become increasingly pre-occupied with the issue of their living circumstances later in life. If you seek out information and plan early, then you won’t have to make a decision later under time pressure or under duress (because of your health or financial situation). From our experience, customers over 60 often still approach a new start joyfully and energetically. Those who sell later on under pressure tend to find it more difficult. Our tip: Make a change to your domestic situation as long as a move will still make you happy.
What criteria are important for senior living?
Some of the most important criteria when considering how age-appropriate your situation is include, most noticeably: the size of the property and the difficulty of cleaning and maintaining it, accessible rooms (no trip hazards etc.), easy access to all rooms (incl. washing facilities), simple conversion options for wheelchairs, and security. When it comes to location, the following are important: easy access to shops and key services (GP etc.) on foot or by public transport, proximity to your familiar social network, easily reachable recreational areas, sufficient peace and quiet.
What opportunities are there if I sell my own home?
Most people can finance a more comfortable new build flat for their senior years (buying or renting) with the revenues raised from the sale of their old home. Greater liquidity will let you have the quality of life that you desire. Old detached homes cam often be converted into smaller apartments - senior home owners can live in the finest new build apartment and rent out the rest. This is how many senior property owners finance a suitable retirement property at their ancestral home. A plan which naturally requires time and needs to be started sufficiently early.