Living arrangements in old age - what options are there?

Older people have different requirements for their own four walls than younger people. Depending on their needs, there are different forms of housing and options for living in old age. Each has its advantages. You should think early on about how you want to live in later life.

Real estate retirement

People who are still fit enough to live in their own property in old age often want to stay in their own home. But the property is not always age-appropriate. If you need a lot of money for a renovation or to pay off a loan, you can sell your property with land rights entered in the land register. You can agree a lifelong or temporary right of residence. It can also be stipulated in the contract whether the purchase price is to be paid out once or as a monthly annuity. A combination of both types of payment is also possible. Anyone interested in this residential concept can seek advice from a real estate agent.

Adapting a property for the elderly

If you feel comfortable in your own home, you don't want to move out. The prerequisite for this is that you are still healthy enough to live alone. Sometimes a barrier-free conversion is all you need to grow old happily in your property. If you have enough money for this, you don't necessarily have to sell the property. However, these are expensive and time-consuming measures. It should therefore be clarified in advance whether selling is the right way to go. An estate agent can give older owners good advice on this.

Home care or in a facility

Senior citizens who are dependent on care and support. They can either be cared for at home by family members or have a professional home carer help them with their everyday life and household chores. However, if home care is no longer advisable, it is also possible to move into a care home or an assisted living facility. Which form of accommodation is advisable depends on the person's care level.

Multi-generational house or senior citizens' flat share

Another form of housing for older people is the multi-generation house. Here, young and old live under one roof. Mutual support can make everyday life easier for older people in multi-generation homes. However, this form of housing is less common. In most cases, family members opt for a multi-generation house.

However, senior citizens can also simply live together in a senior citizens' shared flat. A shared household is a good solution, especially if the pension alone is not enough to live on.

Do you have any questions about which form of living is right for you? Contact us without any obligation. We will be happy to advise you.

You can find more information here:

https://garde-pflegedienst-berlin.de/alternative-wohnformen/

https://de.wikipedia.org/wiki/Mehrgenerationenhaus

https://de.wikipedia.org/wiki/Betreutes_Wohnen

https://de.wikipedia.org/wiki/Immobilienleibrente

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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