Retiring from work doesn’t mean retiring from life – using the equity in your home can allow you to enjoy your time to the fullest.
Paragliding isn’t a typical hobby for an 84-year-old, but that’s the pastime that Heartland reverse mortgage customer Jan* has taken up in order to celebrate her new-found financial freedom.
“I had a number of home improvements that needed to be addressed and, despite still doing some freelance journalism, I couldn’t cover the cost of doing all of them,” says Jan. “The fridge needed to be replaced, the swimming pool motor died, and the house had to be re-carpeted. Then, to add to the stress, one of my three alpacas had a fractured leg and the vet bill was going to be significant!”
Having lived in her home since she built it in 1983, Jan wasn’t looking to move elsewhere.
“I bought the land for the view and built a house that suits me,” she says. “It’s easy to get around, I’m close enough to where I need to be and the views are fantastic.”
Jan says taking out a reverse mortgage wasn’t an overnight decision; she considered it for years before deciding that the product really suited her situation – she didn’t have any immediate family that needed money and she lived in a home she was confident would sell well.
Once she’d taken care of all the required expenses and given her home a real lift, she decided to top it off with a lift of her own – by taking a paragliding course!
“I went for the first time on my 80th birthday and loved it, so was keen to go again,” she says. “It’s an amazing feeling to have that sort of mobility – you’re free as a bird!”
With her house in working order, her animals happy and healthy, and a trip to the skies under her belt, Jan says she is sleeping much better: “I’m so glad I could use my biggest asset to ensure that life is as enjoyable as it can be!”
Some of Jan’s reverse mortgage went towards a significant vet bill for one of her three alpacas
Jan used the little bit extra of her reverse mortgage to take to the skies on an exciting paragliding trip!
*Jan preferred not to use her full name but was more than happy to share her story.