Thinking about later now: so that you will still be happy with your new property in old age

When buying a property, many people don't give enough thought to the issue of "living in old age". This includes owners who want or need to move into a new property in the near future. But what needs to be considered? And what happens to the old property?

Even if you are still in the middle of life and in good health, you should bear in mind that this will not always be the case. At the latest when the first aches and pains and illnesses appear, the first requests for changes to the living situation arise. Needs change with age. Anyone who has bought a house with stairs, narrow passageways and other features that are challenging in old age may face problems.

Consider accessibility when buying

Owners who only discover years later after buying a property that a barrier-free conversion is not possible at all or only possible at high cost are faced with a difficult decision. Can they afford the costs or will they have to sell the property? Is there a barrier-free alternative in the current residential area?

If you check during the viewing whether the property is suitable for barrier-free conversion or whether it is already barrier-free, you will be well equipped for living in old age. If you are not familiar with construction, you should seek the help of an expert. A real estate agent can help you find a suitable construction expert and give you tips on living in old age.

First floor or elevator preferred

If possible, you should look for a house or apartment on the first floor. If such a property cannot be found, it is important to make sure that an elevator is available. In the case of detached houses, a stair lift can be an advantage if it is not installed later.

Location and infrastructure

The property itself is not the only important factor in the search. Good rail and bus connections are just as important. Well-developed cycle paths also make things easier. As a general rule, grocery stores, doctors and other important facilities should not be too far away. The shorter the distance, the easier it is to manage shopping in old age, even with walking aids. Therefore, when assessing the residential area, also pay attention to the sidewalks. If these are not designed for walking aids and wheelchairs, getting out can be a bit of a challenge.

What happens to the old property?

Whether a rental is worthwhile should be checked carefully. Above all, time and investment costs should be well assessed. Another option is to sell. Property seekers in particular benefit from this. The proceeds from the sale can be used to relocate and purchase a new home. What makes more sense in each individual case should be discussed with a real estate expert. The estate agent can give you good advice here.

Are you looking for a solution for your old property and want to buy a new one at the same time? Then contact us. We will be happy to support you.

Notes

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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