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ging in place requires more than just staying in your forever home - it also means making necessary renovations for comfort. But how do you pay for them if you're still building your nest egg? Luckily, homeowners nearing retirement have several options for funding renovations without dipping into their savings.

    One of the biggest benefits of homeownership is equity, which can be tapped to borrow against a home. "Loans can help stretch payments out in a more realistic manner," said Seamus Nally, CEO of TurboTenant. A home equity line of credit (HELOC) allows you to withdraw funds strategically, while home equity loans and cash-out refinances offer lump sums or larger mortgages with the difference kept as cash.

    However, these options use the home as collateral, requiring at least 20% equity. Grants could also help fund renovations, depending on location and circumstances. "It never hurts to look for financial assistance," Nally said, noting government-backed grants, state-level programs, and local initiatives like the Older Adult Home Modification Program, which provides grants to low-income seniors for home modifications that improve safety and accessibility.