3 Helpful Home Tips for Retirees

buying a home as a retiree

You’ve been saving for years, but it doesn’t hurt to save a little more. Before you start spending to make your retirement pad your paradise, ask yourself if you’ve financially considered the unexpected mishaps in your home. Although you may be tempted to be gung-ho about crafting your dream home when you retire, a tucked away emergency maintenance fund to counter any unexpected costs may be a better solution. Here’s how we recommend to start thinking about the preparedness of your nest.

Find Out How Much Life is Left in Your Home

Find out life expectancy of your home and its appliances and do a home audit to plan when you will need to have your largest expenses. Getting a break-down of your home’s specific needs will help you understand what you could possibly be paying down the road.

Map Out Your Expected Costs

Additionally, for smaller upkeep costs, keep a list of future repairs or payments to stay ahead of the game. This list should include home furnishings, painting, flooring, roof, heating & cooling. Deferred maintenance can creep up on you and you want to be sure you plan ahead.

Don’t Forget Regular Maintenance

Nip big problems in the bud by keeping up with the smaller tasks around the house. Did you know that every month you should change out your HVAC filters? We also suggest clean your sink’s garbage disposal (try a mixture of vinegar and ice cubes) and clean the hood filter over your stove monthly. Test your smoke and gas detectors every 6 months. And clean out those gutters when the seasons change. Remember: a well kept home will stand the test of time and give you more time to enjoy your retirement.

Want more homebuying advice? Nestiny is a great place for homebuyer education and to help you gauge how ready you are to buy a home. Journey Homeward allows you to enter all of your wants and needs while the True Affordability Tool will break down your budget, showing what you can comfortably afford. You will also receive a free Ready Report that is personalized based upon the information that you entered. This report will give you a vital head start in the home buying journey, saving you valuable time and money.

For more helpful tips and guidance about all things home, join Nestiny for free access to all our tools, games and money saving advice. So what are you waiting for? Get started on your journey today!

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