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Step 4: What Should I Do with My Home If It No Longer Meets My Needs?

You bought your own home some time ago and have grown very fond of it over the years. With retirement, however, your living needs may have changed.

Urban Apartment Instead of House in the Country

The work in and around your house has become too much for you. You are playing with the idea of buying a more practical apartment in town. Perhaps you would like to transfer the house to your heirs now (anticipatory succession) or sell it. We would be pleased to support you - also with a solution for an existing mortgage. Contact us for a no-obligation consultation.

Installing a Self-Contained Apartment

The location and style of your house still correspond exactly to your wishes. Now that the children have moved out you have additional living space, which has little use but causes a lot of work. Perhaps this can be converted into a self-contained apartment at reasonable cost. By renting it out you would also acquire an additional source of income for your retirement.

From a Single-Family to a Multi-Family Dwelling

Your home may be suitable for conversion into a multi-family dwelling. Get advice from the experts. By having it converted into a multi-family dwelling you can make your dream home for the next phase of your life a reality. At the same time, by renting out or selling the apartments you tap into an additional source of income for your retirement.

Letting

However, you should not underestimate the cost in terms of both time and money, other inconveniences, and the risk of the apartment remaining vacant if you should choose to let. It may be worthwhile engaging the services of a professional letting agency.

Financing by the Bank

You can finance your construction project by means of refinancing or an increased mortgage. Important: By the time you reach 61, the entire financing on a 1st mortgage (66 percent of the market value) should be paid off if there are no additional securities available such as life insurance policies with a surrender value, or securities safekeeping accounts. Our full range of mortgages PDF (966KB) is available to you for the financing. Contact us and together we will find the best financing solution for you.


Whether you wish to convert, renovate, or sell you home, we will support you in implementing your plans and finding the best financing solution for you. Contact us for a no-obligation consultation .  

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