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Rent a house: make the concrete gold liquid
Rent a house: make the concrete gold liquid
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Having your own house is all well and good - but what do you get when you want to afford something later in old age and put all your assets in the house? What many do not know: The dearly loved home can secure a livelihood in old age even when you have long ceased to be the owner.

Table of contents Table of contents Rent a house: make concrete gold liquid

  • Rent a house: These are the options
  • Rent a house: the advantages and disadvantages
  • Real estate pension models
  • A notary helps to rent the house

Table of contents Table of contents Rent a house: make concrete gold liquid

  • Rent a house: These are the options
  • Rent a house: the advantages and disadvantages
  • Real estate pension models
  • A notary helps to rent the house

According to a study by LBS and Empirica, 65 percent of people want to live in their own homes as long as possible. Independent living in old age is a prerequisite for this. In order to fulfill this wish for life, expensive and important renovation measures for age-appropriate living are necessary in many old buildings. But the financial situation does not give all homeowners this freedom.

The maintenance costs for your own home, scarce pensions and rising living costs are offset by high property prices in many places. Although these people have real values ​​in the form of home ownership, they often have to restrict their lives considerably because the money is not liquid. Happy who thinks early about preparing for retirement.

Rent a house: These are the options

How do you make the so-called "concrete gold" liquid?

In order to rent the house, the owner must secure usufruct or permanent residence rights when selling his property - then he can continue to live in his usual environment and use the proceeds of the sale for himself. There are different models for this:

  • Life annuity
  • Time pension
  • Reverse mortgage
  • sale and lease back

Rent a house: the advantages and disadvantages

A sale with usufruct or permanent residence is certainly only suitable for people who are a bit older and may not have anyone to whom they can bequeath the property.

Selling the property with usufruct or life-long right of residence brings advantages for both sides:

Benefits for the seller

  • The concrete gold that is now available gives the former owner new financial scope for future life.
  • The liquidity gained can, for example, replace existing financing, fulfill unfulfilled wishes for life or support important concerns.
  • Barrier-free modernizations are also possible in this way.

Advantages for the buyer

  • Above all wealthy customers or entrepreneurs often have to pay negative interest at banks.
  • On the other hand, you can invest in concrete gold from a private source with certainty, because you know that the new owner will take good care of your investment out of old ties.
Glückliches Paar
Glückliches Paar

If you retire your house, you can make long-awaited dreams come true.

Photo: iStock / Rawpixel Ltd

Real estate pension models

Life annuity

It is the most common way to rent the house. The property owner sells his house, but secures the lifelong usufruct. The buyer pays off the sum in monthly installments. He is now also responsible for the maintenance measures. Disadvantage for him: If the beneficiary lives long, he may pay more for the property than it is worth. Therefore, the market value of the property and, based on it, the selling price in this case is usually set lower than when selling to owner-occupiers. Read here for whom the annuity is worthwhile and how it is calculated.

Time pension

Here the monthly sum is only paid over a fixed period or distributed as a one-off payment. The seller also retains the lifelong right to live with this model. For the buyer, in turn, it is the model with the more predictable payment burden.

Reverse mortgage

In the case of the reverse mortgage, the homeowner lends his property to the bank and receives an interest-free loan without repayment. This can be used in monthly installments or as a one-time payment. Of course, he also stays in the house for life. However, since the amounts paid out are comparatively small due to the high risk discounts of the banks, this model has not become established in Germany.

Sale and lease back

The procedure comes from England and is used more by companies in this country than by private individuals. In principle, the owner sells his house with a one-off payment, but concludes a long-term lease with the buyer. So he can stay in it for some time until, for example, he gets a place in the nursing home.

A notary helps to rent the house

In order to accompany the sales process legally clean, in-depth advice from a notary is advisable. In particular, both parties must clearly regulate financial issues relating to the maintenance of the property and ongoing payment obligations.

Furthermore, the value of the right of use secured in the land register must be taken into account in the sale price from the sale of the property. At the latest here, a notary must be consulted to initiate the entry in the land register.

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