For older property owners, their own home is more than just a roof over their heads: they have lived here for many years, celebrated, raised their children and put a lot of love into the design of the house and garden. In their own homes, they have many favorite places with which they associate one thing above all: Familiarity, peace and independence.
Over the years the own real estate became a part of humans. It is a reflection of their needs and personality. The need for social contacts and integration increases in old age; people want to feel they belong somewhere. Familiar surroundings and people we know help us.
Study: Desire to live at home jeopardized by financial constraints
A current inquiry under senior inside and seniors on behalf of the German living annuity landed property AG confirms the estimate of the housing psychologist: 90 per cent of the asked ones want to remain in the age in the own real estate to live. But the study also shows that one in two will have to impose greater financial constraints on themselves in retirement than expected. Current price increases for food and energy burden 70 percent of respondents. For more financial leeway, 18 percent of retirees are already willing to sell their property to a company if they can continue to live at home and also receive regular monthly payments. This so-called real estate annuitization is a form of retirement financing that has been established in Germany for several years now.
Older people should deal with the issue of housing in old age in good time. They should do this at a time when they are still doing well, not when they are forced to make a change. Only in this way can they consciously initiate the process and shape it in a self-determined manner.
Get transparent advice on the subject of real estate pensions
Self-determination also means that seniors can talk to familiar people in their environment and get transparent advice from a provider's expert staff, for example, about a real estate annuity. If this company is socially sustainable, it will secure its customers by entering the right of residence and the annuity payment in the land register and also relieve them of the costs of expensive maintenance. This allows greater financial leeway and reduces concerns about price increases.