We get to a certain age when we’ve worked hard all our lives and want to enjoy the comforts in life – including our own homes.
We love our homes. They’re the places we’ve made memories, raised children and carved out lives for ourselves.
While some people might be tempted to buy a place in the sun to enjoy their later years, according to our research, over 55s prefer to stay put than move somewhere else.
In fact, some of us will never move, even if it means sacrificing sunny summer holidays.
And why would we want to leave the place where we’ve made such great memories? According to our research, our happiest homeowners have celebrated a whopping 83 birthdays, 23 Christmases and 3 births in their homes*.
While we all love our homes, everyone has an ideal dream shopping basket. Changes, improvements and enhancements we’d love to implement if we just had the spare cash.
If money weren’t an issue, according to our research, an indoor pool and eco home would be top of the list of home enhancements*.
Next up we found that people were more excited by the thought of a high-tech security system than a home spa like a jacuzzi or sauna*.
While not having the spare cash does hold us back, lots of over 55s make many realistic home improvements using money they’ve accessed from equity release.
While we’re here, let’s dare to dream. You won’t find an indoor pool, but here are some other ideas for home improvements if you are looking for some inspiration to refresh your home.
The cost of dream home improvements
All guides prices are taken from third party website and will vary subject to requirements.
|Home improvements||Approximate price||Description|
|New kitchen||£7,000||This room is the heart of the home, and you could make it really special with a new fitted kitchen and sparkling worktops.|
|New bathroom||£6,000||Is your bathroom looking tired? You could give it a makeover – with a brand-new suite or some upgraded fixtures and fittings.|
|Redecorate||£2,500||You could bring in the professionals to spruce up your home – a lick of paint can make all the difference.|
|New carpets or flooring||£5,000||Forget those tired old carpets and worn wooden floors – fitting new ones could give you home a new lease of life.|
|New roof or repairs||£4,000||Has your roof seen better days? Is there a leak? This could be an opportunity to fund the work you need.|
|Home adaptations||£4,000||Thinking about mobility around your home – for now or the future? You could add features like ramps, rails and a stair lifts.|
|Extension||£40,000||Fancy more space but don’t want to move? You could make your home bigger and better with an extension – and potentially add value to your home.|
|Conservatory||£14,000||You could make your home bigger, lighter and brighter with a conservatory. Just pick a design to suit your property and budget.|
|Double-glazing||£7,500||You could make your home much warmer and quieter by investing in double-glazed windows.|
|New appliances throughout||£5,000||Whether it’s for your new kitchen or you just need to upgrade, you could treat yourself to a new fridge-freezer, dishwasher, coffee machine and more.|
|Landscape gardening||£7,000||With a little help from expert designers, you could create your perfect garden. How about some lovely decking or beautiful flowerbeds?|
|Home gym||£2,000||If you want to stay in shape in retirement, you could kit out a room with workout equipment – like a treadmill or a cross trainer.|
*SunLife Home sentiment among over 55s, October 2018