Renovating and decorating your home can be time-consuming, so many homeowners choose to do the job when they’ve got all the time in the world – when they’re retired! Whilst renovation can seem like a daunting prospect for some retirees, it’s best to think of the task creatively and picture your living space as a blank canvas.
Using home renovation, you can spend your retirement living in the property of your dreams. Let’s take a quick look at some simple steps you need to take when planning home renovation in retirement.
Decide what you want to renovate/remodel
The first step in any renovation is making a thorough assessment of your home and prioritising the rooms you’d like to focus on.
It’s always recommended to tackle potentially serious issues (such as problems with structure, roofing, flooring, damp or pest infestations) first to alleviate future damage, before moving on to aesthetics and pet projects.
Consider any renovations that could make your life easier as you grow older
When planning, think about any changes or additions you could make to your home that could positively impact your life as you get older. These could include knocking through rooms, moving bedrooms downstairs, installing stairlifts or lowering the height of countertops.
Consider making your home more environmentally friendly
If you’re fortunate enough to not have to work into retirement age, you can better enjoy the benefits of your home and the wider world around you. With that in mind, why not adapt your home to be more environmentally friendly? Easy ways to do this include choosing 100% water-based paints when you renovate, reducing waste, re-furnishing your home with used items or even using a solar blanket for your pool.
How much will it cost you and how will you finance the renovation?
While many retirees choose to pay renovation costs using a credit card, loans and mortgage borrowing, it may be cheaper and easier for retirees to release equity from their homes with an equity release mortgage.
Decide who will manage the project
Depending on your budget and the level of your DIY expertise, you may either decide to do the work yourself or hire a private contractor. It’s important to assess the scale of any job and make plans accordingly – for instance, while you may be more than capable of fitting a new carpet or doing a simple paint job, it might be wise to hire a contractor for bigger jobs, structural tasks and technical work on your house.
If you hire contractors, ensure you research and choose the best ones
Just like with any other service provider, it’s essential that you do your research and check up on potential contractors before making a deal. You can decide whether or not a contractor is suitable for you by getting free estimates, comparing pricing and reading online reviews from previous clients.
Find alternative temporary living arrangements
If you opt for a full house renovation, you will likely need a place to stay while the works are in progress. To avoid the unavoidable mess and disruption that inevitably accompanies full renovation, make sure that you secure somewhere to stay (whether that be in a hotel or with friends and family) while the heavy work is being done.
Home renovation can enable you to live in your dream home, and enjoy those restful retirement years in a house you can truly be proud of.