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If you’re a homeowner trying to plan for retirement, you might be wondering what to do with your house. While many choose to sell up, rent out, or move in elsewhere, there’s plenty of benefits to staying put.
You might be tempted to downsize, but that’s not the only option. In this guide, we’ll outline some of the best ways to make the most of your property and hold onto home comforts through retirement.
Kitchen renovation
With the help of a lump sum of cash like one from an equity release mortgage, modernising and remodelling your kitchen could make a great investment.
Whether you’ve been longing for a kitchen island or an AGA cooker, there are so many different ways to remodel the heart of your home.
Plus, any work you undertake should naturally add to the value of your property, which could prove helpful for your family in a few years.
Garden makeover
Why not latch onto the current trend and use your finances to help the planet?
In addition to joining a ‘greener’ bank, investing in a raised bed or even an allotment plot could help you to grow your own veg and organic produce. This resourceful habit could also boost morale within your community, encouraging others to do the same.
If you’re not feeling green-fingered, landscaping or paving way for a new patio could help you to enjoy those long summer afternoons in your own private space.
Adapting for increased mobility
Mobility issues can feel daunting if you love your home and you’re certain that you never want to leave, even if it does have a steep staircase. Why not invest in new features for your restored comfort and convenience?
From walk-in showers to stairlifts and handrails, there are plenty of options to explore for small touches to make a huge difference to your everyday confidence.
Boiler replacement
There’s nothing wrong with getting practical tasks out of the way. An efficient boiler is a crucial addition to any comfortable house, especially if you feel the cold.
It’s a great idea to get back boiler replacement before the coldest months of the year, or before it starts showing any signs of deterioration. Cosy up on the sofa with peace of mind that you’ll always be toasty inside.
Hobby or craft room
If you have a couple of spare unoccupied rooms in the house, why not transform them into cosy zones for productive afternoons? Whether you’re a natural knitter or you’d like to try your hand at a new craft, the world is your oyster now.
If you’re not sure what to do with all the extra time on your hands, you’re not alone. Don’t be afraid to reach out for advice on planning your finances during retirement.