Financial considerations before you hire landscapers and maintenance crews
When you’re in the work force, you can spend money and still be assured that you will likely continue to make more in the future. The same can’t be said about retirement funds. In fact, when dealing with retirement funds, it’s often a guessing game that requires a lot of planning and careful decision making.
No one knows how long they’ll live, what the economy is going to do, or whether or not an unexpected circumstance will create excess expenses. That said, you can budget, make an educated guess, plan, and do your best to prepare for anything that comes your way. One thing to consider is how much help you’ll need as you age.
Budgeting for Retirement
Many people plan to pay for mortgages, entertainment, vehicles, and general everyday living expenses in their retirement—they don’t always look at the big picture or what financial consequences paying for extra services may incur.
For example, you may love the home you’re in, with its expansive yard and pristine landscaping. But what if you run into a health issue that prevents you from caring for it properly? Can you just hire a landscaper? And what about home maintenance? Hiring help or professional services can add up quickly.
If you haven’t retired yet, start adding those things into your budget. If you’re already existing on your retirement funds, look at ways to reevaluate and cut things in your budget to make room for the help or services you may need.
Financial Considerations and Tips for Hiring Landscape and Home Maintenance Services
Questions are often the best way to get to the root of an issue. Sit down and make a list of landscape and maintenance services you both need and want. Include things like:
- What needs to be done annually on my home?
- How often does my landscaping need care?
- What appliances need to be replaced and when?
- How is my roof?
- What needs servicing, and how often?
- How much maintenance and landscaping can I do myself, or get help from friends and family?
- Where do I most want help, and how often?
Once you have a general picture of what your needs and wants are, start looking into the costs. How much does one day a week cost for landscaping services? How much does it cost to service your furnace?
Go even further to see where you can cut costs. Can a neighborhood kid help mow the lawn for less? Are you able to reduce high-maintenance plants and put in foliage that is easier to care for? What actions can you take to reduce the frequency of services needed to keep your home up?
Once you determine exactly what you’d like, begin adding it to the budget. Even if you aren’t using the services yet (meaning you are still capable and want to), start a home maintenance and landscaping fund for when you do need it.
Another consideration is whether you want to downsize so those costs are more affordable. If you love living in a house and having a yard, get those things on a scale you can handle – and where services for help with those things are more affordable.
Making your Retirement Funds Last
Retirement is an exciting time. You have the freedom and ability to do the things you love. However, nothing stresses a body and mind more than money issues, so prevent them by carefully making financial considerations about your retirement funds. The more you plan for ahead of time—including home maintenance and landscaping services—the likelier you’ll experience a secure, enjoyable, and stress-free retirement.
Equal Housing Lender