Last week, The Wall Street Journal ran a feature article, The Kids Have Moved Out. Three Ways for Empty Nesters to Reclaim Their Home. To be honest, the three case studies seemed far from typical projects.
Three Costly Projects
To start with, all three homeowners were professional designers. Then there were the budgets — after the discounts suppliers offer to professionals. One project was a whole-house renovation with a two-story addition that came in at a cool million.
The Journal describes the second: "Methodical and unsparing, she went through the house room-by-room, making a list of pieces that looked worn, spaces she was tired of and items that needed replacing. As she would for any client, she pared down the list, set a budget, and devised a detailed plan of attack. She declined to disclose how much she spent."
The third project involved remodeling only the principal bedroom suite and came in at $150,000. Designer and homeowner Anne McDonald explained to the Journal, "We know that with the ups and downs of the economy and life in 2026, we can afford this house so we wanted to make it exactly what we want. We can put in these really high-end finishes and feel like we’re living a little bit more luxuriously than you might think when you see the outside of this kind of humble home."
Smart Financially
McDonald's concept seemed highly relatable to us, regardless of budget. Someone who wants to age in place might find that refreshing their home when the last of their kids flies the nest is a financially sensible move.
Done in good taste (meaning one that appeals to a wide pool of buyers), it can add value to the home and enhance its marketability. Sure, the homeowner has no plans to move, but a more comfortable and prestigious home has a different sort of worth, beyond dollars. And nobody knows what the future will bring.
Empty Nest Syndrome
But there may be an even more powerful imperative to undertake a significant project at this empty nesting time. It provides a distraction from the grief many parents feel when they first become empty nesters.
"Every parent’s experience is unique when their children leave home," writes Dr. Rachel Glik, an educationalist and licensed professional counselor. "Much of this adjustment depends on the quality of our relationship with ourselves and our partner throughout the parenting years, well before the college bound date of departure. Some experience predominantly the benefits of this post-parental stage while others struggle with the
downsides. Most parents find a blend of the upsides and downsides while adjusting to an empty nest. Like every life stage, there is tremendous opportunity for personal and spiritual growth."
Glik goes on to discuss what she refers to as "empty nest syndrome," which she describes as intense mental, emotional, and relationship distress following the departure of all children from the home. This typically impacts the primary caregiver, often the mother, the most. However, according to Glik, fathers also frequently report feeling unprepared for how difficult the situation would be.
One of several strategies for coping might include improving one's home, a project that may be brief and inexpensive or long and costly. Either way, it can provide some excitement and a valuable distraction during a difficult time.
Plan Ahead for the Future
When planning home improvements, think of how the home will be used in the future. Many parents will hope their kids will visit many times in the future — eventually in the company of grandchildren. So comfortable guest bedrooms and an adequate supply of bathrooms could be essentials.
An adult child who's moving to a college within a few hours' drive might come home frequently at first. Should their bedroom be left precisely as it is or would they like an upgrade to something more adult? If the latter, safely store their personal valuables and mementos.
With only one or two people living in the home, there should be more space. So find places for hobbies or work to fill the hours that used to be spent on caring for children.
Paying for Improvements
The economic future is especially uncertain at the moment. Many employees fear their jobs are at risk from AI.
Meanwhile, some economists forecast a dreaded bout of "stagflation," a portmanteau word meaning a stagnant economy coupled with high inflation. Others predict a swift recovery and future prosperity.
In such an uncertain environment, we'd recommend limiting borrowing to a level where monthly payments are manageable in all but the most dire circumstances. Those with significant liquid assets may prefer to avoid borrowing at all.
For homeowners with plenty of home equity, second mortgages are often the most affordable way to borrow appreciable sums. These mostly come in two forms: a home equity loan or a home equity line of credit (HELOC).
