Retired and thinking about renovating your home? Then this article is for you!
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Retirement is the perfect time to do the things you've always wanted to do. You might want to travel the world, read the classics, or renovate your home. You don't need to renovate your existing property either – you can venture into a new area or country instead. In retirement, you likely have more money and time to spend on property. Here are some tips on how to renovate your retirement home.
Lots of planning
You need to plan your renovations and do a thorough research of what you want to do. You need to choose renovations that will benefit your home and lifestyle for years to come. Opt for classic styles that will age well over the years – instead of trend-oriented interiors. For example, a neutral color palette will brighten the room and go with almost any furniture you have. You might love a decorating trend now, but you could hate it in a few months.
Do your research and find reliable companies that won't rip off people in retirement. Look for reviews, find trustworthy companies, and avoid scams. Ask your friends and family for recommendations from local craftsmen.
Budgeting and Financing
You need to keep an eye on your finances during the renovation. It's easy for budgets to slip and spending to get out of hand. You'll have to set aside some money just in case something goes wrong with delays, materials, and weather conditions. If we have learned anything from Grand Designs, then it will go wrong. If you are over 55, opt for an equity release from your home and use it to fund your renovation. Equity release is a fantastic safety net to have when renovating your property.
You need to think about the future of your home and how accessible it is. You may want to expand the doors and hallways for accessible shopping. You can add a handrail in the shower for extra support and a stair lift if your bedroom is upstairs. Alternatively, convert one of the rooms on the ground floor into an en-suite bedroom. A downstairs bedroom and bathroom can make a huge difference if you can't climb the stairs in the future. Think ahead so you won't have to do another renovation in ten or twenty years. You may not need an accessible home now, but you don't know what the future holds. Be prepared and the future you will thank you.
Have fun renovating and make your home the perfect retreat for your retirement.