Moving to a smaller home is a big decision. A clear plan makes it a lot less overwhelming.
If you’re thinking about downsizing in Calgary, here’s the short version: decide what your next home needs to do for you, find out what your current home is worth and what you’ll walk away with, then plan the sale, the purchase and the move as one project. Start sorting belongings early, and give yourself more time than you think you’ll need.
Step 1: Decide what your next home needs to do
Before you look at listings, write down how you want to live. Common priorities for Calgary downsizers include:
- One-level living or an elevator, so stairs aren’t a problem later.
- Less upkeep: no lawn to mow or snow to shovel, or a smaller yard you enjoy.
- Location: close to family, your doctor, shopping, transit or the pathway system.
- Lock and leave: a home you can close up for a winter away without worrying.
- Room for visitors: a second bedroom or den for grandkids and guests.
Step 2: Compare your options
Apartment-style condo. The least maintenance and often the lowest price, with a monthly condo fee. Look closely at the building’s finances and bylaws.
Townhome. More space and often a garage, usually with stairs. Some newer townhomes have elevator options or main-floor primary bedrooms.
Bungalow or villa condo. One-level living with a garage and a small yard, often with exterior maintenance handled by the condo corporation. These are popular with Calgary downsizers and can sell quickly.
Adult or 55+ communities. Some buildings and villa communities are designed for people over a certain age. Check the bylaws to see whether age rules apply.
Step 3: Know your numbers
Find out what your current home is likely to sell for, based on recent sales near you. Then subtract selling costs, any mortgage balance and moving costs to estimate what you’ll have for your next home. Don’t forget the ongoing costs of the new place: condo fees, property taxes, utilities and insurance. In Canada, a home that has been your principal residence for every year you owned it is generally exempt from capital gains tax, but confirm your situation with your accountant.
Step 4: Read the condo documents carefully
If you’re buying a condo, villa or townhome, the documents matter as much as the unit. Review the financial statements, the budget, the reserve fund study, recent board minutes, the bylaws and any notice of special assessments. Look for rules on pets, rentals, renovations and visitor parking. We build a condo document review into every condo offer.
Step 5: Plan the timing
You can sell first, buy first, or line both up at once. Selling first means you know your budget for certain. Buying first means you won’t miss the right home, but you may need bridge financing or carry two homes for a short time. A longer possession date on your sale can give you breathing room. Talk to your lender early about what’s possible.
Step 6: Sort, sell and donate before you list
This is often the hardest part, so start early. Measure your new space and decide what will fit. Offer pieces to family, then sell, donate or consign the rest. Downsizing helpers and estate sale companies can manage the whole process. A home with less in it also shows better, which helps when it’s time to sell.
Step 7: Prepare and sell your home
After many years in one home, small things add up. Focus on what buyers notice: cleaning, fresh paint where it’s needed, fixing obvious repairs and improving curb appeal. Skip big renovations unless the numbers clearly support them. Price your home on today’s sales, not on what it’s worth to you.
How we help
Many of our clients have been with us through several moves over the years, including the move to something smaller. We start with what you want next, plan the sale and purchase together, recommend only the preparation that’s worth it, and connect you with movers, cleaners and downsizing help we trust. With 25+ years each in Calgary real estate, we know patience and clear communication matter as much as the price.
Choosing an agent for your move? Our guide on how to choose the best realtor for downsizing in Calgary covers what to look for and the questions to ask. If you’re helping a parent sell, see our guide to selling a parent’s home as an executor.
Thinking about downsizing? Send us a message or start with a home value request. We’ll talk through your options, with no pressure.
Questions
Frequently asked questions
How much does it cost to downsize in Calgary?
Budget for selling costs on your current home (commission, legal fees and any repairs or staging), closing costs on the next one (legal fees, title insurance and adjustments), plus moving, storage and any furniture you need for the new space. Alberta has no land transfer tax. We’ll help you estimate your net proceeds before you decide.
Should I sell first or buy first when downsizing?
Many downsizers sell first so they know their budget, then rent briefly or negotiate a longer possession. Others buy first because the right condo or bungalow doesn’t come up often. It depends on your finances and how quickly homes like yours sell.
Is a condo or a bungalow better for downsizing?
A condo usually means less upkeep and a monthly fee. A bungalow or bungalow-style villa gives you one-level living with more space and more maintenance. Many people choose a villa condo to get both. Visit a few of each before you decide.
What should I do with furniture and belongings I can’t take?
Start early. Offer pieces to family first, then sell, donate or consign what’s left. Downsizing helpers and estate sale companies can handle the sorting and selling for you. We’re happy to share names of people we trust.
This article is general information, not tax, legal or financial advice. Talk to your accountant, lawyer and lender about your situation.