Life in your own home is full of memories and emotions. Moving house is particularly difficult for older people to imagine. You don't want to give up your own home, you don't want to lose the neighbors and friends you've known for years, you want to remain your own "master."
For many people, purchasing real estate is an important part of their retirement planning. However, there is often a lack of knowledge and uncertainty about the financial options associated with real estate ownership. In order to make the right decision, it is important to have a clear understanding of your wishes, needs, and goals.
Whatever you decide, you should never forego expert advice from professionals. All options must be put on the table and carefully calculated. Please contact us. We will be happy to help you.
Selling your home in old age
Of course, there are many good reasons to sell a property in old age—emotional, practical, and financial. For example:
- Your property has become too big for you and you are looking for a smaller condominium.
- Maintaining your living space and garden has become too burdensome.
- An age-appropriate renovation would incur high costs.
- You do not want to undertake an upcoming renovation for financial reasons and because of your age.
- You want to supplement your pension with the proceeds from the sale.
- You want to use the proceeds to finance a place in a retirement home.
- You want to use the proceeds to fulfill your dreams and wishes.
What is my property still worth?
Other models for securing your livelihood through real estate
Real estate annuities
If your pension is too small to allow you to live a truly carefree life, the concept of real estate retirement with usufruct could be an option. You sell your property and the usufruct is entered in the land register. This is deducted from the market value of your property. You can then spend the remaining proceeds from the sale however you like, according to your preferences and wishes.
Sale of house in exchange for life annuity
This is another concept that allows older people to supplement their income without having to give up their own four walls. Here, too, the property is sold. In return, you receive a monthly pension and right of residence—for life. Of course, it is important to carefully examine the conditions under which this model is worthwhile for whom.
