b'Does Your Home Fit You Anymore?Downsize and Simplify!F or many people, the home has been the center of their familys universe. It had space to ac-commodate your kids and their friends and to host social and maybe business functions. You utilized the house especially during family holidays because you had multiple bedrooms (and enough bathrooms) for the grandparents, the sister and brother-in-law, their three kids and their dog.Then one day you realized that those rooms areDownsizingtakessomediscipline.Itrequires empty more often than not, and its a heck of a lotdecluttering because a smaller home cant hold all of work to take care of. During this historic quar- that stuff that took years of living to accumulate. antine, perhaps that big house now echoes in itsApproach it one room at a time. Establish piles of emptiness.what is to keep, sell, donate and trash. It will feel By SUSAN EASTMAN Maybe this is a good time to consider downsizing. liberating when you get to the other side of the ef-Downsizing means going smaller but the ramifi- fort and youll have some extra cash to boot.cations are way more impactful than simply size. ItIf you are selling a large home to go smaller, you can also mean living large in an efficient, simplifiedare most likely benefitting from a financial wind-way and maximizing less space through optimalfall. Your house is normally one of your biggest as-design. sets so hopefully you can end up with extra cash to pay off debts, add to your retirement fund, and put GOING SMALLER IN HOUSE SIZE CAN MEAN: down a decent deposit on your new home. InterestLower utilities rates are at incredible lows so consult with a lender who will help you determine the fine balance be- Less to clean tween how much cash to put down to achieve the best interest rates and have an appropriate mort- Less maintenance and stress gage if you are on a fixed income. Also check withSmaller mortgage (usually) your financial advisor who can best explain the im-pact of capital gains, how to effectively invest theLower property taxes (hopefullyprofit from selling your house, etc.depends on location) Thereissomethingelseaboutdownsizing,Lock-and-leave convenience though, that is hard to measure. Going smaller may allow more time to explore new hobbies, more time with family and friends, and bring peace of mind. There is no financial value you can place on that.28 |UrbanStreets Anchorage'