Older adults often experience a decline in functional abilities, affecting their independence and mobility at home. Wearable lower-limb exoskeletons (LLEs) have the potential to serve as both assistive devices to support mobility and training tools to enhance physical capabilities. However, active end-user involvement is crucial to ensure LLEs align with users’ needs and preferences. This study employed a co-design methodology to explore home-based LLE requirements from the perspectives of older adults with mobility impairments and physiotherapists. Four older adults with self-reported mobility limitations participated by creating personas to represent different user needs and experiences (i.e., PERCEPT methodology), alongside four experienced physiotherapists who contributed their professional insights. As assistive devices, LLEs were seen as valuable for promoting independence, supporting mobility, and facilitating social participation, with essential activities including shopping, toileting, and outdoor walking. Physiotherapists expressed enthusiasm for integrating LLEs into remote rehabilitation programs, particularly to improve strength, balance, coordination, and walking speed. Key design considerations included a lightweight, discreet device that is easy to don and doff and comfortable for extended wear. Physiotherapists highlighted the potential of digital monitoring to assess physical parameters and personalize therapy. Fatigue emerged as a significant challenge for older adults, reinforcing the need for assistive LLEs to alleviate exhaustion and enhance functional independence. A shortlist of LLE features was drafted and scored, covering activity and design applications. These findings provide valuable insights into the design and usability of home-based LLEs, offering a foundation for developing devices that improve acceptance, usability, and long-term impact on healthy ageing.