A woman looks up at a sales sign in front of a house. - ©Feverpitch/Depositphotos.com

Think ahead now: so that you can still be happy with your new property in your old age

When buying real estate, many people do not 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 in the prime of life and in good health, it is important to remember that this will not always be the case. At the latest when the first aches and pains and illnesses appear, the first desires for change in your living situation will arise. Needs change with age. Those who have bought a house with stairs, narrow hallways, and other features that are challenging in old age may face problems.

Consider accessibility when buying

Owners who only realize years after purchasing a property that barrier-free conversion is not possible or only possible at high cost are faced with a difficult decision. Can the costs be covered or does the property have to be sold? Is there a barrier-free alternative in the current neighborhood?

If you check during the viewing whether the property is suitable for barrier-free conversion or is perhaps already barrier-free, you will be well prepared 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.

Prefer ground floor or elevator

If possible, look for a single-story house or an apartment on the ground floor. If you cannot find such a property, it is important to make sure that there is an elevator. In single-family homes, a stair lift may be advantageous if it cannot be installed later.

Location and infrastructure

It is not only the property itself that is important when searching for a home. Good rail and bus connections are just as important. Well-developed bike paths are also a plus. In general, grocery stores, doctors, and other important facilities should not be too far away. The shorter the distance, the easier it is to do your shopping in old age, even with a walking aid. That's why you should also pay attention to the sidewalks when assessing the neighborhood. If they are not designed for walking aids and wheelchairs, going out can be a bit of a challenge.

What happens to the old property?

It is important to carefully consider whether renting out the property is worthwhile. Above all, the time and investment costs must be estimated accurately. Another option is to sell the property. This is particularly beneficial for those looking for a new home. The proceeds from the sale can be used for the move and the purchase of the new home. Which option makes more sense in your individual case should be discussed with a real estate expert. A real estate agent can advise you on this.

Are you looking for a solution for your old property and want to buy a new one at the same time? Then get in touch with us. We will be happy to help you.

Notes

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

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 case.

Photo: © Feverpitch/Depositphotos.com

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