With the real estate market plunging, we can no longer count on the equity in our homes to be the resource we thought it would be to cover our needs in our really old age. The following article from Smart Money, lists options for seniors when considering what to do about this dilemma. This hits home with me as I consider how we could make this present over-large house perhaps provide a rental unit to subsidize our future needs. This would entail some drastic downsizing without even relocating as we try to eliminate the sprawl of stuff which has spread into rooms we don’t use. For us, our idea of luxury is having more space than we need, so that we can designate areas for each of our special interests such as a room for crafts and sewing and a room for technology where the computers reside. If we were to contract our space, the remaining rooms would have to take on multiple functions. It can be done and the economy may provide just the motivation needed.

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