Can a Reverse Mortgage Help Me With Home Improvement & Maintenance?

Yes — a reverse mortgage can absolutely help with home improvement and maintenance, and in fact, this is one of the most common and practical ways homeowners choose to use their loan proceeds.

As we age, it’s natural to want to stay in the comfort of your own home — but sometimes the house needs updates, repairs, or safety modifications to make that possible. A reverse mortgage gives you access to tax-free funds from your home’s equity that you can use to maintain, repair, or upgrade your home, all without taking on new monthly mortgage payments.

Here are some real-world examples of how a reverse mortgage can help:

Home Improvements & Upgrades:

• Remodeling the kitchen or bathroom to make them more functional or accessible
• Installing energy-efficient windows, insulation, or HVAC systems to reduce utility costs
• Upgrading old plumbing or electrical systems for better safety and performance
• Refreshing paint, flooring, or lighting to modernize the space and increase comfort

Accessibility & Aging-in-Place Modifications:

• Installing grab bars, walk-in tubs, or zero-step showers to reduce fall risk 
• Adding a stair lift or wheelchair ramp to improve mobility inside and outside the home 
• Widening doorways or adjusting counter heights for better wheelchair or walker access 
• Automating lighting and entry systems to reduce daily physical strain

Ongoing Maintenance:

• Regular landscaping, gutter cleaning, or pest control to keep the property in good shape 
• Annual HVAC servicing or chimney inspections to prevent costly future repairs 
• Hiring help for housekeeping or yard work, especially if it’s become physically challenging
  

By using a reverse mortgage to take care of your home, you’re not only protecting your investment — you’re making it more livable, safer, and better suited to your lifestyle today and in the future. And since the loan doesn’t require monthly mortgage payments (as long as you meet the basic terms), you can tackle these improvements without adding financial stress.

For many retirees, this is a powerful way to stay in their home longer, more comfortably, and with greater confidence.

Learn more about eligibility requirements for a reverse mortgage, situations where a reverse mortgage is best used, and common myths around reverse mortgage that we debunk with facts