New report claims retired splash the cash on DIY

Home improvement is one of the top priorities when people retire, according to a new survey conducted by Saga Home Insurance.

Apparently eight of ten people questioned claimed they had carried out home improvements since retired, with the average completing up to three home improvements following retirement and 55% claiming they have redecorated their home.

Four in ten also said they had had a new bathroom fitted and more than one in three installed their dream kitchen. The extra time freed up from leaving work has meant they focus more on creating their perfect space inside a home, with one in eight turning the spare room into an office or workshop and 3% creating a games or hobby room from the spare room.

 

Building a conservatory was the main priority for 11% of those questioned and extensions to the house or the addition of a porch being the job at hand for 7% and 5% of those questioned.

One in three spent an average of £3,000 on the redevelopment of their garden and the survey found that the average spend of improving a retired persons surroundings was £17,000, with one in eight people saying they had spent more than £25,000 creating their dream home since retiring.

Roger Ramsden, Chief Executive of Saga Services, commented: “Throughout our lives we spend time and effort to make our house a home, however it can be hard to manage and oversee big home improvement projects when you’re working full time. However, it’s a good idea to let your insurer know before you start any home alterations so you can make sure you’re covered both during the works and beyond.”

 

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