For many reaching retirement age, having ample time to yourself to do as you please sounds idyllic. However, as part of your retirement, it could be a good idea to use the time wisely and consider doing some home renovations.
If you’re looking to take on a hands-on renovation project, we’ve put together our top tips to help you plan your home improvements.
- Planning is key
The first stage in any home renovation project is planning. After all, if you fail to prepare, you are preparing to fail. To start with, think of all the potential things you may wish to renovate in your home. No matter how big or small, add them all to the list so you can assess and prioritize. From wonky door handles to major renovations like loft conversions – write them all down.
From there, you can plan how you will do each item on the list. You should think about whether you will go for a DIY approach, or whether you will need tradesmen in to complete the work for you. If there is a lot of heavy lifting involved, you may want to avoid doing it yourself in your retirement!
- Think about accessibility and future requirements
Whilst it can be hard to admit, often a good idea to think to the future and improve the accessibility of your home. It’s always a good idea to think about things such as additional handrails in the bathroom, ramps for potential wheelchairs or even reconfiguring your kitchen.
Placing microwaves and ovens at counter height or below will make cooking easier. If you’re really serious about accessibility, lowering counters can be a great modification should you ever need to have a wheelchair-friendly kitchen.
You could even consider a first-floor bedroom should climbing stairs become too much later down the line!
- Create a budget
Home renovations can be expensive, so it’s important to create a budget. For many, undertaking all the projects at once can be difficult if you don’t have a way of financing it. One good way to finance your home renovations is to use equity release. Equity release is used to free up funds from homes and allows you to access a cash lump sum of money if you are over 55. This is perfect for those wanting to improve their homes, as it doesn’t eat into your savings.
- Think about what will add value to your home
Last but not least, it is important to think long and hard about what will add value to your home.
Things such as updating old central heating or adding a home office can really boost your property value. Whilst you may not be working full time, having an office is a great addition to many homes as it offers a calm place to look over bills and can be a great place to be productive, should you need it.
Whilst it can be time consuming to plan home renovations, it’s well worth the time and money to plan and budget properly. If you want to increase the value of your home whilst future-proofing your abode, then why not reach out to an expert who can help you plan for the future.
