LIVING IN OLD AGE – WHEN THE HOUSE BECOMES A BURDEN

The house is too big, maintenance is too costly, the costs for heating and electricity are rising: As an owner, getting older also means dealing with certain issues. We would like to help you think about living in old age and, ideally at an early stage and without the pressure of illness or care, decide what should happen to your property in Berlin or Brandenburg.

Barrier-free living = carefree living

The biggest problems best agers have with their own property are barriers such as stairs or steps, which not only prevent them from getting to the next floor, but can also pose a risk of falling. The fewer danger points such as stairs, steps, narrow rooms, hard-to-reach objects and carpets that are not firmly laid, the more carefree people can live in their own homes in old age. Low kitchen cupboards, a level-access shower and an open-plan living space are the first ways to make a property more barrier-free.

Early planning is advisable

From our experience, we advise our customers, even if many people find it difficult, to deal with the topic of living in old age when they are still well. This offers two advantages:

They make a well-thought-out decision and can, for example, plan a sale optimally (in terms of speculation period, etc.) or think about making a gift. Neither an illness nor a nursing case or even the death of a partner will put you under pressure to make a quick decision.

The sooner you consider barrier-free home conversions or a move to a senior-friendly apartment, the lower the risk of falling due to barriers and tripping hazards, injuring yourself and possibly living less independently. After all, falls in old age often make people feel more insecure – and consequently more likely to fall or restrict themselves.

The best options for best agers

Barrier-free conversion is a much-used option, as it allows best agers to live independently in their property for longer – for example, if there are still outstanding debts to be repaid or speculation tax would be due on a sale. However, if the property becomes too large or requires too much maintenance in the foreseeable future, you should let go of your property today and rent it out or sell it. Rental income and sales proceeds can supplement your retirement provision. Alternatively, you should consider a partial sale or annuity: Basically, you sell your property today, receive an agreed sum or monthly installment and can remain living in it until the end of your life (or another defined date) through a usufruct right. Something similar would also be possible in the form of a gift to children or grandchildren.

Convert, sell, rent out? You don’t just make this decision on instinct. Important market data and the current market value of the property should be taken into account as well as the individual and family situation. We at Victor Investment would be happy to advise you personally. We look forward to hearing from you!