Need for care: Is selling the property a sensible option?

When a family member becomes dependent on care and has to move into a nursing home, everything often changes for the family. Suddenly, their familiar home is empty, while at the same time the costs for nursing care, support, and medical services rise considerably. Many family members then face the question of whether selling the property could be a solution to alleviate the financial burden.

Managing care costs: Using your own property as security

Financing a residential care facility often exceeds the monthly income of many people. Pensions and long-term care insurance benefits are rarely sufficient to cover all costs. In such cases, real estate accumulated over decades can provide crucial support. Selling a house or apartment creates liquidity that can be used immediately for care expenses.

Unlike loans or complicated financial products, selling a property offers a direct way to convert assets into regular income. Renting is also often considered as an alternative. However, this solution isn't always practical, as it involves management, maintenance, and the potential risk of rent defaults. A straightforward sale, on the other hand, provides planning security.

Saying goodbye: Why selling a house is so difficult

A house is more than just a building. It holds memories, celebrations, family histories, and life stages. For children, it often means selling the family home where they grew up. Therefore, this decision is often one of the most emotionally difficult a family has to make when a family member needs care.

It is therefore all the more important to handle this step with the necessary sensitivity. No one wants to feel they have made hasty decisions regarding their parents' assets. Open discussions within the family, and if necessary with the person requiring care themselves, create clarity and help avoid feelings of guilt. Having a real estate agent by your side who understands how stressful this process can be makes it easier to separate the practical necessities from personal memories.

In an orderly fashion: Selling without pressure

Haste makes waste at this stage. While high care costs can quickly create financial constraints, a rushed sale often results in a lower price. Acting early and seeking professional support allows you to structure the process calmly. An experienced real estate agent will handle not only the valuation and marketing but also the communication with potential buyers.

This frees up the family to focus on what matters most: providing the best possible care for their loved one. At the same time, it ensures that the property achieves a price that reflects its true market value. Tax and legal issues can also be proactively addressed during this phase, preventing any unpleasant surprises later on.

Are you facing the difficult decision of selling a property to cover care costs? We will support you with understanding, experience, and a clearly structured sales process. Discreetly, transparently, and quickly, we will find the right buyer and ensure that your property goes to a good home. Contact us – we are here to reliably assist 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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