Over-55s reveals their dream home improvements

SunLife has asked 1,001 homeowners over 55 what renovations they would make to their homes if money wasn’t an issue.

The most popular choice was ‘indoor pool’ followed by making their property an eco-home, followed by building a conservatory.

Luxury renovations such as jacuzzi and sauna were also popular, as well as an alfresco dining area.

Meanwhile, one in 20 said they would have a cinema room, while the installation of a hi-tech security system was also high on the list.

There was quite a significant difference between what men and women would do. Tech featured highly on men’s lists with eco home the top choice and security system and cinema both featuring high in the list. Alcohol was also a theme with wine cellar and indoor bar both making men’s top 10.

For women, an indoor pool was top; home cinema didn’t make the top 10, but having a balcony was a popular choice as was building a playground for the grandkids.

Top 10 ‘ideal’ home improvements for over 55s

On average, homeowners over 55 bought their homes more than 20 years ago when the average house price was around £52,000.

Simon Stanney, equity release director at Sun Life, said: “Our research has revealed that on average, people over 55 have seen their homes increase in value by around £135k, but 62% don’t want to move so unlocking some of this value via equity release could offer a solution.

“The cash released is tax-free and you can do what you want with it, whether that is home improvements, gifting to children or grandchildren, or building an indoor swimming pool.”