No matter how close to or far from retirement you are, it’s never too early to get your home ready for those changes.
Whether you plan to stay there permanently or you’re tempted to eventually retire to a tropical paradise, here’s what you can do now to get your home ready for whatever the future holds:
- Take care of looming expenses. Flaky paint? Fridge on the fritz? Finally time for a roof replacement? Financing these items may be easier with your current income.
- Make updates. That dreamy kitchen or bathroom remodel you’ve been talking about for years could also be easier to manage before retiring. Plus, there’s no better time to enjoy these renovations than when you’ve retired.
- Plan for accessibility. Wide doorways and stepless entries can be UNbelievably useful for the strollers that may bring your grandbabies over, or for afternoons spent catching up with a friend who’s recovering from knee surgery.
- Set up a home fund. If you’re not ready to make updates, set aside the funds in a high-yield savings account. Let your money work for you, then it’s there to easily withdraw when you need it. You could also use your home equity to set up a line of credit that’s uniquely yours with either a traditional Home Equity Line Of Credit or a reverse mortgage.
Do you need help financing home improvements before you retire? Reach out to our highly skilled team of mortgage loan officers and we’d be happy to help you explore your options.
This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.