Downsizing to a smaller home sounds like a great idea. You can save money, reduce home maintenance, and have more time to enjoy things you keep putting off. However, if over the years you have accumulated "stuff", the thought of downsizing could be overwhelming. Also there are some major questions most homeowners have before they start to down size. How do I clean out my home I have lived in for years? Do I buy first or sell my home first? How can I avoid moving twice? Will I have to carry two mortgages? Every situation is unique so there can be no standard answer across the board.
I had a client that was facing these challenges. She finally made the decision to move forward and downsize to a smaller home. However, she had no idea where to begin and had many concerns on how this move would work without making her crazy. I met with her and explained my best marketing strategy to ensure a smooth process that worked for her. I explained even though this process seemed complicated we walked through each of her concerns with a solution.
1. Should You Buy Your Next Home Before Selling Your Current One?
Unfortunately, there is no standard answer. Each situation depends on your finances, the Atlanta real estate market, and how flexible you can be with your moving timeline. Let's look at your options.
Option One: Sell First, Then Buy
If you decide to sell first, any proceeds that are earned can put you in a better financial position to purchase your new home. This will alleviate the stress of carrying two mortgages. However, a new problem may emerge: Where will you live between closings? Finding a new home may take longer than anticipated so now you're stuck having to move into a short term rental or move in with family temporarily. Although that's not the end of the world, it creates the hassle of moving twice. A better solution may be to have your realtor negotiate a temporary post-closing occupancy agreement before the sale of your home with the new buyer. This will allow you to continue to live in your home after closing for a specified time while you purchase your new one.
Option Two: Buy first Then Sell
This option may be the best one if you found the perfect home that meets all your needs and criteria, but your current home hasn't even been listed yet. Now you can move your belongings in gradually and prepare your existing home for sale. You're no longer stressed out trying to find a new home on a deadline. However good this sounds, you may create a financial bind for yourself if you have two mortgages to pay. Instead of burning through all of your savings you can explore a bridge loan or other short-term financing options. Beware that these types of loans usually have higher interest rates so always speak to a qualified lender before making a decision.
Option Three: Coordinate Both Transactions
The ideal solution is to align the sale of your current home with the purchase of the next one. This requires planning well before either property goes under contract. The best Atlanta real estate agent can help evaluate your home's selling price, organize and schedule financing, inspections, appraisals, and closing dates. When both homes are coordinated efficiently it eliminates the possibility of paying two mortgages and the headache of moving twice
2. How Do You Prepare a Home You've Lived in for 20 Years?
For most homeowners downsizing can become emotional. After many years in the same home, you are not just preparing a property for sale. You are sorting through the history of your life. This causes people to not want to let go of things, and over the years you're faced with mountains of stuff to go through. Don’t wait until the house is on the market before sorting through all of this. Begin with the areas that accumulate the most: closets, the garage, the attic, the basement, kitchen cabinets, and spare bedrooms. As you sort, separate items into four categories:
- Keep: Belongings you will use and want in your next home.
- Donate: Items in good condition that someone else could use.
- Sell: Furniture, collectibles, or other belongings with resale value.
- Discard: Broken, damaged, or unwanted items that are no longer useful.
After the majority of the de-cluttering is finished, now you have to decide what home improvements are worth investing in. An experienced realtor can walk through your home and give you sound advice. Here are some of the less expensive upgrades to consider:
- Fresh paint: Neutral, updated colors can make rooms feel brighter, larger and more inviting.
- Flooring: Cleaning carpets, refinishing hardwood floors, or addressing damaged flooring can improve the overall appearance.
- Lighting: Replacing outdated fixtures and using appropriate lighting can make a home feel more current.
- Landscaping: Trimming shrubs, refreshing mulch, clearing walkways, and adding seasonal plants can improve curb appeal.
- Minor repairs: Fixing leaky faucets, loose cabinet hardware, sticking doors, and other small problems helps your home feel well maintained.
The final task is staging your home so buyers can walk in and see themselves living there. Professional staging is highly recommended in most situations. The goal is to invoke an emotional response in buyers that results in making an offer!
3. What Does the Moving Timeline Actually Look Like?
60–90 Days Before Moving: Make A Plan
Start by meeting with the best Atlanta real estate agent to discuss your current home's value, the local Atlanta market, and the type of property you want to buy next.This is also the time to speak with a lender if you will need financing. Your goal: Get your finances in order, choose a strategy, and start preparing for the transition.
30–60 Days Before Listing: Prepare Your Home
With the help of your realtor, declutter the interior but also the exterior of your home. .Complete the most important repairs, and remove personal items. Arrange for donations, estate sales, or junk removal if necessary. At the same time, begin narrowing down your search for your next home..Your agent can help you determine when the property should go on the market based on its condition and current market conditions.Your goal: Get your existing home market-ready giving it curb appeal while identifying realistic options for your next home.
2–6 Weeks Before Listing: Finalize Your Strategy
By now, you should have a better idea of your home's selling price and what you want to purchase. If you plan to buy first, confirm your financing and understand how long you can comfortably carry both properties if necessary. If you plan to sell first, discuss options such as aligning closing dates or negotiating a short post-closing occupancy agreement with your buyer.Your goal: Finalize the financial and logistical details before your home hits the market.
Once Your Home Is Listed: Manage The Two Transactions
After your home is listed, the timeline becomes less predictable. Your property could receive an offer quickly, or it might take longer to find the right buyer. The time needed to find your next home can vary just as much.If you have already purchased your next property, you can prepare for the move while your current home is being marketed. If you are waiting to sell before buying, stay in close communication with your agent about available homes and your expected closing date.Once you are under contract, pay close attention to inspection deadlines, appraisal requirements, financing contingencies, and closing schedules.Do not assume that two closings will automatically happen on the same day. Dates can change, and even a small delay can affect your moving plans.Your goal: Keep both transactions moving forward while maintaining a backup plan.
The Final 1–2 Weeks: Coordinate The Move
As closing approaches, confirm your movers, arrange utility transfers, and verify when you will receive access to your new home.Ideally, your purchase and sale closings will be coordinated closely enough that you can move directly from one home to the other. Your goal: Have a confirmed moving date, a clear plan for accessing both properties, and a backup option in case something changes.
Moving Day: Start Your Next Chapter
When everything has been coordinated properly, moving day should feel like the culmination of months of preparation rather than a last-minute scramble.Your belongings go directly to your new home, your closing arrangements are in place, and you can focus on settling into a property that better fits your lifestyle.
A realistic expectation: Allow roughly two to three months or more to plan and prepare for a downsizing move. The actual time required will depend on how much work your current home needs, how quickly it sells, how long it takes to find your next property, and whether you are buying or selling first.
My client's outcome exceeded her expectations. We decided on a price for her home and I already had buyers that were interested. She simultaneously put an offer on a condo and it was excepted. I coordinated the inspection, negotiated both contracts and closing dates, so she had plenty of time to move into her new home. Everything fell into place perfectly and my client only had to move one time and carry one mortgage!
Here is what my client had to say about working with DOMO Realty:
"It is without hesitation that I gladly recommend Vanessa Reilly of Domo Realty. I had been thinking of moving for at least the last 10 years and had, in fact, spoken to Vanessa at least twice during that time. She had told me to just let her know when I was ready. After making the major decision to downsize, I called Vanessa and the rest is history! Vanessa helped me buy a condo in senior living and then sold my house that very same week. She accompanied me to both real estate closings and made the entire process exceedingly easy and worry free. I very much appreciated Vanessa's understanding, patience and willingness to go beyond the necessary. Thank you Vanessa!" ~Judy S
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