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Guide to Home Renovation During Retirement

Home-Renovation-During-Retirement

Many people decide to renovate their home when they get to retirement. This is a period in your life where you might have the time and money to make improvements to your living space, plus you may also be needing to make changes as a result of this change in lifestyle as well as future-proofing. Renovating the home is obviously a major project, so read on for the key steps to take.

1. Planning

Planning

Planning is obviously a key stage and you need to be as detailed as possible with your plan. You need to consider what your requirements are from the renovation and draw up a few floor plans to get an idea of what it will look like. Additionally, think about future-proofing with accessible features that will make the home easier to use as you get older. Once you have considered these areas, you can then start to contact architects and builders to get the ball rolling.

2. Research Builders

Next, you will want to research builders to find people that will be reliable and a good fit for your particular project. It is always a good idea to ask friends, family and colleagues for recommendations as well as spend time researching online looking at reviews left by previous customers. Social media can be a good place to research and get a good feel for a company.

3. Get Quotes

estimate of renovation

Once you have researched builders and found a few that you like the look of, you should then arrange for them to come over and put together a quote – you should get around 3 or 4 different quotes to compare. Keep in mind that cheapest is not necessarily best and instead you need to think about how easy it is to communicate with them, the ideas that they bring to the table and the level of professionalism that they have.

4. Budgeting & Funding

It is important that you create a budget and stick to it, as these projects can quickly spiral out of control if you do not have a clear budget in mind. In terms of funding, retirees could use their retirement fund but it is also worthwhile tofind out how equity release works to free up funds from your home’s equity as this can be a good way to fund the project (especially as you will be adding value). Keep in mind that some aspects you might be able to do yourself to keep costs down, but a lot will need to be done by the pros.

If you are planning a home renovation project in retirement then these are the keys steps to get the project underway. Retirement is a good time to make home improvements, but it is also a major project and you need to make sure that you have everything under control.

Article Submitted By Community Writer

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