When the house gets too big: Moving out, but where to?

Sell or rent? You will have to ask yourself these and many other questions when you move out of your house due to age. Here you will find some help in making your decision.

You've thought about it for a long time, but now the decision has been made: You are moving out. You will leave this collection of memories behind and set up your tents somewhere else. But what comes next? What happens to the house? And where will you live?

Both have their advantages and disadvantages, which should be carefully weighed up in discussions with the children and your bank. In both cases, it is important to start planning early in order to find a suitable place to live without time pressure.

Selling the house has some advantages: You get a larger sum of money and are released from all the duties of a homeowner. The chapter is closed and you are ready for a new beginning. However, this is precisely what many people find difficult, because owning your own property is often the fulfilment of a lifelong dream, and with a sale, moving out is irrevocable. And also the secret hope that one of the children will live there with his or her own family is finally dashed. On the other hand, a sale brings the financial means for a new property, for example a flat suitable for the elderly in a central location, and enables a comfortable standard of living.

By renting out the property, it remains in your possession and can later be inherited by your children. The monthly rental income flows directly into the rental expenses for the new accommodation and significantly improves the pension. Depending on the age and condition of the house, expensive renovation work may be necessary before it can be rented out, such as replacing electricity, gas or water pipes, insulating the roof or replacing windows. As the landlord, you are still responsible for the maintenance of the property.

The small granny flat in your big house seems to be just right for you in your current living situation? And you want to part with the rest of the house? Then a sale with lifelong right of residence is a good option for you. For financial reasons, a property is often transferred to the children during their lifetime and the parents secure a lifelong right to live in parts or all of the property. The right of residence is recorded in a notarised contract and entered in the land register.

The idea of moving into a retirement home frightens many seniors: a small room, demented housemates being carted across the corridor in wheelchairs, meals pureed to bite size and embarrassing bingo afternoons. At least that is the popular perception, but it is far from reality. Retirement homes are not primarily designed to provide care, but rather to offer seniors a relatively free-flowing life with the opportunity to participate in activities and socialise. However, the old people's home is only one of many alternative forms of living available to you. Depending on their physical and mental condition, seniors can choose from a chic city flat near their children, a senior living community, assisted living, a retirement home or a nursing home.

The step from a large house to a smaller flat often means a relief, because not only the maintenance of the house and garden, but also the duties of a homeowner are eliminated. The new flat can be chosen exactly according to the wishes and needs in terms of location, size, accessibility and furnishings, thus creating significant relief in everyday life. The wish to move closer to the children can also be realised in this way. If the financial means are available, for example from the sale of one's own property, the purchase of an upscale flat is a good investment.

When you hear the term "Wohngemeinschaft" or "WG", you may think of a group of young students who share a flat for reasons of cost. However, it is often not the costs at all, but the contacts that make the students form a shared flat. And the senior citizens also benefit from this, because the shared flat offers a familiar atmosphere and supports communal leisure activities.
The shared apartment can be set up by private individuals who can look after themselves and organise outpatient care for residents in need of support if necessary. Each resident has his or her own room; kitchen, bathroom and often a common room are shared. Carrier-supported senior shared flats are often set up by care services or welfare associations and offer rooms or self-contained flats.
The residents have less freedom to make decisions, but also less responsibility than in a privately founded shared apartment. They can make use of care services as needed and are supported and cared for by daily companions. Everyone participates in the household and the preparation of meals within the scope of their possibilities, which promotes and challenges the residents' independence.

Assisted living offers autonomy and independence, but at the same time more security and less work. The barrier-free and age-appropriate senior flats are optimally tailored to the needs of senior citizens. In most cases, the flats are integrated into a residential complex, so that on the one hand there is free space and privacy for the individual and at the same time social contacts between the residents are made possible. Varied group activities are part of the programme and can be attended casually. If desired, additional services such as laundry or cleaning services or care services can be booked. Fast and reliable help is available around the clock via an emergency call system.

A retirement home accommodates senior citizens and cares for them according to their needs. In contrast to a nursing home, no proven need for care is necessary to move into a retirement home. Social activities are part of the core business of a retirement home, the social contact of the residents is promoted in the retirement home, voluntary entertainment and cultural events are part of the programme. The care service is adapted according to need.

Retirement homes refer to the luxurious version of the old people's home and offer not only rooms, but entire flats. With their own swimming pool, sauna and gym, a library, function rooms and restaurants, this residential model gives the impression of a hotel. However, such comfortable residential complexes in prime locations with extensive service and care offerings come at a price and are not affordable for everyone.

If the need for care is so advanced that the household can no longer be managed alone and comprehensive care is required, a move to a nursing home is usually necessary. Here, residents receive round-the-clock medical and nursing care and can participate in various entertainment and leisure activities. The costs for accommodation in a nursing home are often very high, but depending on the degree of care, they are covered proportionally by the nursing care insurance fund.

Those who want to move out of their own property at an advanced age must decide whether to rent it out or sell it. Both alternatives have advantages and disadvantages that should be carefully weighed against each other. Moving out of the house means moving in somewhere else, and here there are various housing models to choose from. The decision for a model essentially depends on whether and to what extent medical and care services have to be used.