A poll of more than 7,000 retired or semi-retired over 50s showed that on average, people completed three home improvement projects once they’ve given up their day job, perhaps making the most of pension freedoms.

The research from Saga Home Insurance showed that while 55% redecorated, four out of ten said they had a new bathroom fitted and more than a third installed their dream kitchen.

Other alterations include building a conservatory (11%), extending the house (7%) or adding a porch (5%).

Saga found that the average person spent £17,000 improving their home, but one in eight said they had spent more than £25,000 creating their dream home since stopping full time work.

The insurer warned that as people extend their properties and fill the space with possessions, it’s important to review insurance to make sure all contents are covered.

It added that if a customer has had up to £20,000 of work carried out that they are not happy with and they have a dispute with a tradesman, they can claim for legal help on their home insurance policy if they have legal expenses cover.

Roger Ramsden, chief executive of Saga Services, said: “Throughout our lives we spend time and effort to make our house a home, however it can be hard to manage and oversee big home improvement projects when you’re working full time.

“However, it’s a good idea to let your insurer know before you start any home alterations so you can make sure you’re covered both during the works and beyond.”