We interrupt our scheduled program.......

I will get back to adventures in downsizing, but really need to take some time to share about Holy Week.  

This is my most favorite liturgical season.  It always has been, even when I knew nothing about liturgical seasons, way before the word liturgical was even a part of my vocabulary.  And not just the going to church part, but the season of Lent from Ash Wednesday throughout Holy Week and onto Easter.  For me it is a time to contemplate, meditate, pray.  It is a time of reflection and renewal. 

I was not raised in a "churchy" family, my parents took us at Christmas and Easter. We kids went to religious instruction,  and got all the childhood sacraments when due and attended church weekly during those years.  But regular family church going, beyond what seemed to be "required" was simply not a part of my growing up experience.  Which doesn't mean faith and a strong spiritual dimension were also lacking. We were raised with a strong belief in God and a deep spirituality rooted in all creation.

So, it always has sort of surprised me how strongly I am attracted to Lent, Holy Week, and Easter.  There were many years when I simply didn't attend church, yet during this season I would be drawn, called; I didn't always respond, but sometimes I would go to whatever church was near.

I recall in my early 20's, before my folks moved to Florida, going home for Easter.  I woke up that Sunday morning needing to go to church.  My Dad said he would go with me.  Neither of us had a clue as to where or when.  We looked in the paper and found a something that worked for us, thought is was Catholic and headed out.  It was "high church", not in English, something Slavic. We didn't understand the language, but did fully understand the ritual and being there with the sounds and smells sustained us, though we did giggle a bit on the way home.

So many times, when I'd been away from any church during Holy Week, in the midst of preparing for Easter I found myself racing to church.  Often it was in the midst of some pretty serious cleaning, so I was in cleaning attire, very unkempt, I'd put on a hat or a scarf, and rush off.  Not wanting to be noticed, I was really a sweaty, sloppy mess, I would sit in the back.  I was compelled to be there.  I had no choice.  And, always, I was glad that I went.

I think those who made the decisions about when in the natural year we would celebrate what, were very wise to place Lent and Easter where they are. It is glorious to have my world, my surroundings transforming from dark, cold, dormant to light, warm, new life.  The world reflects and echos back to me the very basis of my belief, all of life is a series of event - many accidents, mistakes, errors, losses, deaths always followed by a miracle of accomplishments, corrections, discoveries, rebirths, resurrections.  

And, I am no scholar, but I do think that just about all cultures, faiths, religions recognize and celebrate this in some form, and I take great comfort and find great joy in this shared spirituality. 

To Own or Not To Own

A large part or our "American Dream", at least the one I grew up with, is home ownership.  Saving money to buy a home, working steadily to pay off the mortgage, one day getting the title of full ownership from the bank, this is all part of what being an adult was to me.

Having spent most of my life single and choosing to be a single, adoptive parent, buying came late, in my 50's.  And when I did buy at that age I never had the expectation that I would have it paid off and live "rent/mortgage" free.  And that was okay with me.

I made choices for me and my girls about how I used my money and am glad of those choices.  Providing them with experiences and things was good for all of us.

So I now find myself with a home I love but also with a mortgage.  Currently my housing is costing me (mortgage, condo fee, utilities, maintenance) over 60% of my limited retirement income.  That doesn't leave a whole lot for other things.

It is a seller's market, so I have the opportunity to cash in on this investment.  Because it is a seller's market buying a smaller home would pretty much use all the funds I get from the sale.  I would still have a mortgage, though smaller.

And I would still be responsible, physically and financially for upkeep and maintenance.  I don't want either.  And I don't want to see my limited savings only going for a new furnace, new appliances, etc, etc.

So, after weighing all these factors I have made the decision that for me, now, the best choice is to rent.  Whether I rent or buy, I will have a monthly cost.  But, if I rent, all I have to do when the stove isn't working is call the landlord to fix or replace it.  The funds I get from selling my place don't have to targeted for upkeep and maintenance.  They can be available to me for whatever, just to be there as part of my legacy.

My retirement income does qualify me for some of the subsidized senior housing, just.  Having worked at a housing authority I know I would prefer to not live in publicly owned housing, and I am blessed to be able to have a choice.  These tend to be very, very small.  If I had no choice it would be fine, but since I do, I opt for a bit more space.

There are a number of privately owned, subsidized senior housing apartments around.  And so very many of them are quite lovely.  So, I have begun the process of making applications and getting on the waiting lists.  The downside of this is that is about a 5 year wait.  And I want to do this now.

Market rents are about as high as mortgages.  But I decided that I owned it to myself to investigate.  Well, there are quite a few ample (700 to 900 sq ft) one bedroom apartments that  I can afford. I've been looking them and there are plenty that would put my rent at 35% of my income, add other housing costs (utilities, etc) and my housing would drop to about 38% of my income.  Having that other 22% for me sounds grand.

So, of the many, many choices needing to be made in this downsizing adventure, among the earliest was the decision to sell and rent.  I will move into a market rental now, keep my name on lists for the future.  

The benefit of the subsidized units is that the rent, which includes heat, is capped at 30% of income.  For me to consider is I've become quite used to a dishwasher and in-unit laundry and may not want to give them up for a savings of only 8%.  Then again, in 5 years or more I may no longer entertain and cook like I do now and having laundry "in the building" might be just fine.

 So for now, a market rental while I see where and when my name comes up for subsidized housing.  This plan suits me and will serve me well.

Next: Okay, I know what, but where?

An Adventure in Downsizing

I have made the decision to downsize.  Not just my living space square feet, but my housing costs.  I have been making this decision for a long, long time now.  Pretty much since I completely stopped working. It has taken this long as there have been many factors to weigh and I am more than a bit of a plodder.

I love my home.  When I bought it, it was when housing prices were at rock bottom and this place was in need of a lot of work, so it was even cheaper than rock bottom.  I waited a few years, the market picked up and so did my equity.

I leveraged that into totally gutting and rehabing it.  During the waiting time I spent hours designing what it would look like.  I had some interior design software and pretty much every evening tweaked and edited an existing plan, or started a brand new one. So what I have today is totally mine, well, mine and the bank's.  

I spent just about as much time considering colors.  I knew I would not finish in "apartment ecru", but wanted lots of color in every room.  I was quite lucky, the guys who did the rehab work, worked with me doing they painting.  When a room was just about done, but before putting in the hardwood floors they painted the ceiling.  Then I had time to do what I had planned on the walls.

And I did.  In some rooms I had different, but coordinating or accenting colors on each wall.  In another I had vertical strips.  Another had horizontal, chair rail strips.  It was great fun.

And I gave considerable thought and planning to window treatments and wall art.

So, this place, my home is mine from the germ of an idea to the fully flourishing reality.  And I to this day I go from room to room and love it.

But, having bought my townhouse late in life I never expected to have it paid off or to be living mortgage free.  While still working I was quite fine managing the mortgage, condo fees, and other housing costs.  Now, on a fixed, limited income, I am spending too much on housing.

Right now we have an incredible sellers market.  I am speechless over how much the unit next to mine just sold for.  So, I must take advantage of this and turn what equity I have into cash to supplement the remainder of my retirement.

I've had to ponder many hurdles to get to this decision, but have made it.  So now this begins.

I've decided to resurrect my blog and share this journey.  I will soon be posting pictures of this haven I've created for myself, so you can see what I have done and will be leaving.

I will be contacting a realtor within a day or too and as each leg of this journey proceeds I will share how I have made my choices and where they are taking me.  

Come join me for another adventure.