Sometimes life changes faster than you could ever imagine. Whether it's a painful divorce, advancing age, or an unexpected job change, there are many reasons why you might need or want to sell your beloved home and become a tenant.
The current uncertain economic situation has also led to the financing of many homes becoming more expensive after key interest rates were raised. Although it is possible to switch to a cheaper bank with follow-up financing or to extend the financing, this is not an option for some owners. They are left with only one solution: the painful sale and move to a rental apartment.
Once the decision to sell your beloved property has been made, many questions arise: When is the best time to do so? In these uncertain times, is it better to wait and hope that demand will increase? And how do you even tackle all these challenges? It is understandable that it is difficult to find your bearings and embrace the new situation. Especially when a divorce or job change is imminent, time is pressing and quick decisions have to be made.
It can be helpful to seek professional support from experienced real estate professionals to facilitate the sale and relocation process, especially when it comes to an emotional issue like this. A real estate agent can assess your situation from a neutral standpoint, help you determine the price, market your property, and find a suitable rental apartment.
What options are available in which life situations?
What happens when divorce is imminent?
In this case, there are various options that need to be considered: Should the property be sold or rented out? Or will one of the partners continue to live there? Another option is to transfer the property to the children. Often, the property has not yet been paid off in full at this point, and the question arises as to who can afford to pay the remaining balance.
If one of the partners wants to continue living in the property and both are listed in the land register, it becomes difficult if it is not financially possible to pay out the other partner. The consequence can be a foreclosure sale, which entails considerable financial losses. From our experience, we know that most people decide to sell the property and look for a rental apartment.
Unexpected changes can occur with age
Your dream house or apartment was supposed to be your home for life. But then you realize that the stairs are becoming a challenge, the bathroom isn't wheelchair accessible, and everyday tasks are getting harder. At times like these, it becomes clear that changes are necessary to ensure your own comfort, safety, and quality of life. Even if moving to a retirement home is not necessary, selling the property and moving to a senior-friendly apartment is still on the horizon. Selling may be emotionally difficult at first. After all, it is a difficult farewell to a familiar place where so many memories have been made.
However, this step does not mean the end—a senior-friendly apartment can offer you a new home that is tailored to your needs and your life situation and allows you to enjoy your twilight years to the fullest. Selling your property can also open up new financial prospects that offer you additional freedom and flexibility. You can build up financial reserves to cover unexpected expenses or further expand your retirement provisions—or fulfill long-cherished dreams and wishes. A real estate agent can respond to your individual needs and wishes for living in your old age and help you make the most of the financial advantages of selling your property.
When you need to move because of a job change
A change of job can also mean having to sell your beloved property and move into a rental apartment. Often, the new job requires a move to another city or even another country. In such cases, it is often impractical or financially unfeasible to keep the property and commute.
However, changing jobs also brings uncertainty. You don't know exactly how the new job will develop or whether you want to commit to the new location in the long term. In this situation, it is understandable to wonder whether selling your property and moving into a rental apartment is the right decision. Don't let the many questions and uncertainties overwhelm you. In this situation, it is advisable to make this transition as smooth as possible with the help of a real estate professional. A real estate agent can take care of selling your property and finding a suitable rental apartment while you concentrate on moving and your job.
A new chapter in your life awaits you, and we would like to help you with this transition
If you find yourself in a situation where you are considering what to do with your property and whether moving to a rental apartment makes sense, we are happy to assist you and help you find the best solution for you. We provide you with professional and empathetic support through all the necessary steps of the sale and look for a new property so that you end up just as happy as a tenant as you were as an owner.