Think ahead now – so that the property will also suit your later years

Even though interest rates and utility costs threaten to skyrocket, homeownership remains a dream many long to fulfill, especially when expecting a child or needing to relocate. Often, things need to happen quickly. Amidst the haste and euphoria of finally owning their own property, one crucial aspect is often overlooked: many prospective homeowners fail to consider that they might still want to be happy in their own home as seniors.

When buying a property, it's important to consider how long you plan to live there and, above all, whether the property can be adapted for accessibility as you age. A lack of an elevator in a fourth-floor apartment, a large garden that requires maintenance, or too many stairs are classic obstacles that can make living difficult in old age. Another point to consider: once the children move out, their rooms will be used less frequently, the property will become too large, and yet it will still need cleaning.

Consider the age of the individual when searching for a property

To make life easier in old age, experts recommend considering these factors when purchasing a property. Ideally, the property should already be designed to be age-appropriate. If it isn't, the following points should be considered:

• Is the bathroom large enough and can the shower be converted to be barrier-free?
• Are the doors wide enough, or can they be widened?
• Can stairs be replaced by ramps?
• In the kitchen: is it possible to install accessible furniture so that one can reach the sink and worktop in a wheelchair?
• In an apartment building without an elevator: would installation be possible, or is it perhaps already planned?

A real estate expert can explain what you really need and which renovations and installations make sense. You should definitely take advantage of their advice.

Don't forget about costs

Especially in the current climate, it's important to be price-conscious and consider all costs. Barrier-free and age-appropriate renovations aren't cheap. To plan effectively and accurately, and to estimate the anticipated expenses, it's advisable to consult a professional. They are familiar with various types of properties and can advise you on what can be done and how to implement the necessary modifications in your specific situation.

Even minor adjustments can provide significant relief. In other cases, however, a barrier-free renovation might be too complex and consequently more expensive than moving to a different property that is already age-appropriate. Taking out another large loan should also be avoided. One thing is clear: regardless of whether it's a renovation or a move, a homeowner should consider future changes in their circumstances when purchasing a property.

Would you like to know if adapting your property for accessibility is worthwhile? Contact us. We'd be happy to advise you.

Notes

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

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