Renovate to Retire: 4 Renovations to Complete before You Retire
Here’s looking at you, and your retirement, Baby Boomers. For many of you, the kids have moved out, life has pleasantly slowed down a bit, and you can see retirement peeking out over the horizon! With retirement comes more time to spend at home, enjoying your house, your family, and all of the hobbies you’ve missed while raising a family.
As you start to think about what you want retired life to look like, it’s important to consider your home and how you see yourself living in it for the next phase of life. In a 2015 study conducted by Harvard University’s Joint Center for Housing studies, less than half of homeowners over 55, who were thinking about a major renovation, were considering remodeling with retirement in mind.
Perhaps you want to spend your retired years traveling to exotic destinations and you plan to sell your home, or maybe you’re ready to stay where you are and renovate your house into a functional and relaxed retirement paradise. Whatever direction you choose, there are some key renovation tips that will serve you well as you enter that next phase of your life.
We’re rounding up the top 4 renovations to complete before your well-deserved retirement begins!
Deck or Patio Addition
Whether you’re planning on selling your house to travel or renovating your home, adding a deck to the backyard will make your space more attractive to potential buyers or act as the perfect addition to a retirement remodel. The national average for a deck addition costs about $11k, but you can expect to see an 83% return on investment if you plan to remodel and sell your home.
A Bathroom Remodel Equipped for the Future
Remodeling your bathroom so that it’s more functional as you age is a crucial step that’s are often forgotten. If you currently have a bathtub with shower capabilities, it might be time to consider that standalone shower with non-slip floors, a comfortable seat and tastefully designed grab-bars. If your home is older and you plan to stay for a while, moving through each room of the house with aging-in-place in mind might reveal other areas that could be updated for style and safety.
Create an Easy Entry into Your Home
If climbing steps to your front door is not appealing, you might want to weigh your options about adding a gradual inclined walkway instead. Traditional ramps don’t usually add curb appeal to your retirement pad, but adding a slight inclined walkway disguised behind tasteful landscaping and shrubbery is a smart way to make your home retirement-friendly without sacrificing style.
Minor Kitchen Remodel
Taking on a kitchen renovation is a big job, but paring it back in favor of a more minor remodel—we’re talking new countertops, cabinets, appliances, outlets, and maybe even the flooring– is a wise investment to attract potential buyers. It’s even a worthwhile investment if you plan on staying in your home as you begin this new chapter of life. If you’re planning on aging in your current home, consider widening your doorways and opting for a more open floor plan in your kitchen and living area so you have ample space to move around and enjoy.
Remodeling earlier while you’re still working and preparing for retirement is a smarter financial move. While it might sound less stressful to manage once you’re done working, you’ll be happy you completed it once your last day of work arrives and you can get straight to traveling the world or enjoying the home you worked hard to renovate!