Senior citizens want to vacate too big homes, but have nowhere to go or can't afford to

Senior citizens want to move out of the too-big homes they’re occupying, but they often can’t find suitable housing. And those who can find a place to stay typically find it financially unattractive to make the move, realtors, mortgage advisors, and the Senior Citizens Association (Anbo-PCOB) told AD. They urged the new government to take measures and stimulate this much-needed flow in the housing market.

“It’s often said that seniors are living in oversized homes and should make room for those moving up the property ladder, but then we forget that they have nowhere to go,” Michiel Meijer, commercial director of De Hypotheekshop, told the newspaper, “Not only has far too little been built for seniors, but it’s also fiscally unattractive to move or share living space with another senior.”

In addition to a lack of suitable senior housing, senior citizens who want to downsize often have to take out a high bridging mortgage. And many don’t qualify with their pensions alone, while the equity in their current homes is still locked up. And sharing a home with another senior citizen often means that their benefits will be reduced.

“It all adds up,” said Lana Gerssen of the realtors association NVM. “We really need to start building for senior citizens, but we also need to consider the financial barriers in place.”

This summer, the NVM urged politicians to give the construction of new senior-accessible homes the “highest priority.”In 2022, the government at the time promised to build 290,000 senior citizen homes by 2030. But according to real estate advisor CBRE, in 2024, only 4,000 such homes were delivered.

Everyone benefits from senior citizens downsizing, Gerssen stressed. “If people show a willingness to move, it’s very healthy for the entire housing market, and they shouldn’t be hindered by financial constraints.”

Meijer of De Hypotheekshop also stressed that simply accelerating construction isn’t enough. “Also provide tax incentives,” he said. “So that the group of people aged 75 and over will let go of their larger homes.”

Anbo-PCOB agrees. “First of all, there are too few accessible homes in the neighborhoods where people want to live,” a spokesperson told AD. “And it’s precisely the group that is open to moving that is deterred by all the regulations and the lack of housing.”