Increase property value through barrier-free conversion?

As our society gets older and older, barrier-free living space is also becoming increasingly important. More and more young prospective buyers are looking into the possibility of barrier-free property conversions. This is because they want to remain living in their own four walls even in old age. But can a barrier-free conversion really increase the value of a property?

Property experts expect demand to increase in the coming years and for barrier-free properties to become more rentable. Investing in the barrier-free conversion of a property can therefore be worthwhile. However, not all measures make sense or represent an increase in value.

Plan correctly

Barrier-free remodelling requires intensive planning. This project should therefore be started at an early stage – ideally even before you yourself become dependent on accessibility. This is because the planning and remodelling phase is usually lengthy and strenuous.

It is important to determine at the beginning what goals you want to achieve with the remodelling. This will determine which measures are required. Experts recommend defining an overall concept for the entire property as well as individual concepts for the respective rooms.

Ask a professional

You should always seek advice from an expert in barrier-free remodelling. There are various housing advice centres for this, such as local senior citizens’ offices, social and housing offices or welfare associations. The experts there can tell you exactly which measures really make sense.

A local quality estate agent will also tell you which conversion measures will have an impact on the value of your property and which will be beneficial for the sale.

Get support for the remodelling with subsidies

You should always keep an eye on the costs of barrier-free remodelling. You can also make use of state subsidies. For example, the Kreditanstalt für Wiederaufbau (KfW) offers a loan and a grant. Care insurance companies also support barrier-free conversions. It is important that you apply for the funding before starting the remodelling work.

In addition, disability and age-appropriate remodelling measures can be deducted from tax as an “extraordinary expense”. You should seek advice on this from a tax professional.

Would you like to know whether a barrier-free conversion is financially worthwhile and increases your chances of selling your property more quickly? Then get in touch with us. We will be happy to advise you.

Note

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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