You've spent your adult life working, and now it's nearly time to retire and enjoy the fruits of your labor. You will probably be spending more time at home now, so make sure it's ready for this new phase of your life.
1. Make Sure It's the Right Size
The home where you will spend your days for the foreseeable future should be the right size. If you've been living in a home where you've raised your kids, but they've grown up and moved out, it's probably time to consider downsizing. This can be more cost effective for your current and future lifestyle, and it will be easier to maintain as you get older.
2. Make Sure It's in the Right Location
Are you happy with the location of your current home? Is this where you want to spend your retired life? It may be practical to relocate closer to friends and family members. If you now live in a place with extreme weather, consider whether you’ll want to shovel sidewalks in your senior years. Take the cost of living into account as well, as your income will probably be reduced in retirement.
3. Make It as Secure as Possible
Security should be a priority. Evaluate your current set-up and determine if improvements need to be made.
"Security is important when it comes to peace of mind," says Dave Bernard at US News.1 "A well-publicized alarm system with generously distributed signs and stickers lets potential criminals know ahead of time the area is protected. Additional security is available with systems that include a panic button which alerts the appropriate people when there is an emergency. It is a good investment to put deadbolts and strong locks on all doors with access to the outside. And make sure locks on windows click securely into place when closed."
4. Make It Accessible and Mobility-Friendly
Whether you plan to stay in your current home or move to a new one, ensure that you have accessible accommodations to help as you get older, and mobility becomes more challenging. The National Institute on Aging recommends the following for an accessible home for aging in place:2
- Don't use area rugs that may slip, and check that all carpets are fixed firmly to the floor.
- Replace handles on doors or faucets with latches that are comfortable for you to use.
- Install grab bars near toilets and in the tub or shower.
- Reduce fall hazards: place no-slip strips or non-skid mats on tile and wood floors or surfaces that may get wet.
- Place light switches at the top and bottom of stairs and remember to turn on night lights.
If you need extra funds to modify or improve your home, consider the benefits of a home equity line of credit.
5. Get Rid of What You No Longer Need
If you move, you will likely discard a lot of junk along the way, but take the opportunity beforehand to go through your belongings and determine what you really need. Declutter your home and determine what you can donate, give to friends or family, or sell for a little extra income.
6. Make It Comfortable
Much of preparing for retirement is planning for the future, but don't forget that this is your time to enjoy yourself. You want your home to be as comfortable as possible, so make changes that contribute to that, whether it's a new piece of furniture or a new mattress.
7. Make It Energy-Efficient
Smart home devices that cater to energy efficiency can go a long way, but they're not the only way to make your home more efficient. Use LED bulbs, seal cracks where air can get through, replace filters regularly, don’t let the water faucet run, and turn off the lights and appliances when they're not in use. The more money you can save on energy, the less strain you'll put on your retirement as a result of wasted resources.
Now that you're retiring, you will probably spend more time at home. Make sure it's not only the right home, but also that it is ready for you to spend these years in comfort and safety.
2. https://www.nia.nih.gov/health/infographics/aging-place-tips-making-home-safe-and-accessible