That depends on the individual case. Certain properties (e.g. vacation homes) are in higher demand at certain times and are therefore easier to sell.
Move to a smaller place or stay where you are?
You don't transplant an old tree. Or do you? Many years ago, you fulfilled your dream of owning your own home with a large garden and a separate room for each child. At the time, the property was perfectly suited to your needs—but today, things look different. So what happens now to a house that may be too big? Stay where you are? Sell? Or would you rather rent it out? We'll show you what options you have.
Real estate in old age
When the children have left home or retirement is just around the corner, many older people start to think about the future. Sooner or later, quite a few decide to leave their own home and spend their twilight years in a retirement-friendly apartment. In addition to the question of how to find such a place, there is also the question of what to do with the old property. Are you really ready to part with your beloved home forever, or would you rather rent it out and leave it to your children later? All options have their advantages and disadvantages.
Staying where you live
For most older homeowners, age-appropriate features were probably not a priority during the construction phase of their home. Many construction companies have now recognized the emerging market and offer conversions to create living spaces specially adapted for seniors: From barrier-free access to a separate area in the house for a caregiver, many measures can be financed through subsidies. However, these are not always feasible from a construction standpoint.
There are also social factors to consider: As we get older, our needs change, and good connections to supermarkets, facilities, and relatives should not be underestimated, especially as mobility declines in old age. It is therefore always important to weigh up how reasonable it is to continue living at home. Ask yourself this question: Can I continue to live here without compromising my (changed) quality of life? If you have any concerns, selling or renting out your property may be an option.
Sell
The advantages are obvious. By selling your property, you receive a large sum of money immediately. You can invest the proceeds from the sale in a new property that is suitable for your age and changing living requirements, perhaps fulfilling long-held wishes. You also sell all your obligations. What's more, money is much easier to pass on than real estate. However, many people find it difficult to part with their beloved home for good. After all, many parents hope that their children will move into the property later on. If this is a possibility, renting it out in the meantime may be the better option.
Rent
Renting out your property can sometimes significantly supplement your monthly pension. In addition, the property remains in your possession and can therefore be passed on to your children later. However, ownership also comes with certain obligations. As a landlord, you are responsible for maintaining the property. This can sometimes significantly reduce the income you receive from renting it out.
Renting out a property should therefore be well thought out, just like selling it. Both are time-consuming and should ideally be left to a professional. If you decide to sell or rent with a real estate agent, they can also start looking for a new home for you right away. Real estate agents often have suitable rental or purchase properties in their database and can therefore ensure a smooth transition from your old home to your new one.
What suits my life situation?
You are starting a new chapter in your life and want to find out about your options – at Garcia & Co Immobilien, we draw on over 20 years of market experience to provide you with the security of knowing that we can respond to your individual situation. Our network of selected specialists in the fields of tax, law, finance, appraisals, etc. is always available to answer any further questions you may have and guarantee you the best possible advice. This enables us to flexibly implement your wishes and requirements for a retirement property in your new – or old – home.
Enjoy retirement with real estate expertise
Whether you decide to sell, rent, or convert your property to make it suitable for retirement, we will help you find solutions tailored to your needs. Simply contact us for a no-obligation initial consultation!
Garcia & Co. Immobilien is one of the most innovative and customer-oriented real estate companies in the region. We are exceptionally well organized and stand for quality, professionalism, and discretion. Humanity and customer focus are a matter of course for us.
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Show all servicesLiving in old age or age-appropriate living!
As we get older, our expectations of our homes change. While a large garden and enough bedrooms for the kids were important to you at 30, at 70 you're probably more interested in having fewer stairs to climb and a supermarket just around the corner. But what else needs to be considered when it comes to age-appropriate living?
What to do when paths diverge?
When couples divorce and own property together, the big question arises: What happens to it now? The answer is not always straightforward and depends on many factors. Does the couple have children, does one partner want to continue living in the property, and what share of the property does each partner own?
A dispute over a single cup? Real estate as inheritance
Almost every second inheritance in Germany includes real estate. The inherited home is often the deciding factor in whether an inheritance is valuable or not. So, in theory, anyone who inherits real estate has something to be happy about. In practice, however, inheritance is usually accompanied by grief for a loved one—and a lot of unanswered questions and bureaucratic hassle. Here's what you need to know if you inherit or bequeath real estate.
Young families and the adventure of building a house – how the dream of happiness comes true
Are you expecting a baby? Congratulations! Then you know that new parents face major challenges that affect not only parenting and childcare, but also their living situation. Many are faced with the question: Should we build a house or buy one? Which neighborhood is best for us? What financing options are available to us?
New job, new city, new house? Moving house made easy
Property owners who have to move to another city due to a change in their career usually experience a great deal of stress. What happens to the old property and how can a new home be found quickly near the future place of work? A local real estate expert is best placed to help in such cases. With a professional real estate agent, you can usually submit a search request and will be informed exclusively when suitable properties come up for sale.
Alternative forms of living in old age
The idea of moving into a retirement home discourages many seniors from looking into the topic of living in old age. However, assisted living does not always mean a nursing home, and not every nursing home means giving up all your freedom. Those who want to trade their home and solitude for an alternative form of living in their old age have various options.