Downsizing can mean less upkeep, a more convenient location or a home that better suits your next chapter. It can also feel like a lot to take on, especially when you’ve lived in the same place for years.
You don’t need to decide everything at once. Start with these seven steps.
1. Decide what you want more of
Before choosing a smaller home, think about the life you want around it. More time to travel? Fewer stairs? Shops within walking distance? Write down three things you want to improve and three things you want to keep.
Include practical needs: room for guests, your hobbies, pets, parking and storage. A smaller home should still work for your everyday life.
2. Test the options before committing
Visit a few condos, townhomes and smaller detached homes. Compare layouts rather than square footage alone. Look at elevator access, outdoor space and how easily you could manage the home over time.
Walk around the neighbourhood, too. Try the route to your usual shops, parks and family. What feels convenient on a map may feel different in person.
3. Build a complete moving budget
Estimate your sale proceeds after selling costs and any mortgage payout. Then allow for purchase closing costs, moving, storage and any work you want to do in the next home.
Compare ongoing costs such as strata fees, property taxes, utilities, insurance and maintenance. A smaller purchase price doesn’t automatically mean lower monthly costs. Ask your lender and legal professional to confirm the figures that apply to you.
4. Choose a timing plan that suits you
Selling first gives you clarity on the sale proceeds, but you may need temporary accommodation. Buying first lets you secure the next home, but can create an overlap between two properties.
There isn’t one right answer. Talk through financing, available homes and your comfort with uncertainty before choosing. Plan completion and possession dates, and have a backup if the timing doesn’t line up.
5. Start sorting while there’s no deadline
Begin with a drawer or cupboard rather than an entire room. Sort items into keep, give to family, donate and sell. Set aside sentimental items for a separate conversation.
Measure the furniture you want to bring and check it against the next home’s floor plan. Photograph meaningful items you won’t keep. If family members want something, agree on a collection date so it doesn’t stay on your moving list.
6. Prepare the current home thoughtfully
Get advice before spending heavily on renovations. Cleaning, small repairs and clearing space may be a more useful starting point. We can help you decide what preparation makes sense for your home and the market.
If you’re considering a strata property, make time for document review. Have the relevant professionals help you understand the building’s finances, maintenance plans, bylaws and any issues that could affect your decision.
7. Make the handover manageable
Book movers, confirm access and elevator arrangements, update your address and plan utilities. Keep important documents, medications, chargers and a few everyday essentials with you.
Give yourself time to settle in. A familiar chair, favourite photos and a workable daily routine can help the new place feel like home.
Your first step can simply be a conversation
We’ll help you compare the options, understand your current home’s place in the market and plan the sale and purchase around your priorities. You don’t need to be ready to list to ask a question.