Downsizing in Saskatoon: A Guide for Empty Nesters & Right-Sizers

The Short Answer

Downsizing usually means selling a larger family home and moving into one that's easier to keep up, such as an apartment condo, a townhouse condo or a bungalow. A good plan covers both sides: what your current home could sell for, and which kind of home fits the way you want to live next.

Most downsizers we work with are buying and selling at the same time, so the timing matters as much as the house. The tool below matches you with a home style in about two minutes, and the rest of this guide walks through the money, the move and the decisions in between.

Signs It Might Be Time

• You're heating, cleaning and paying taxes on rooms nobody uses.
• Snow, lawn and exterior repairs are taking up more of your time than you'd like.
• Stairs, a steep driveway or a basement laundry room are getting harder.
• You'd like to travel or spend winters away without worrying about the house.
• You want to free up equity for retirement, family or the things you enjoy.
• You'd like to be closer to family, health care, shopping or the river.

Your Downsizing Options in Saskatoon

Apartment-style condo

Everything on one floor, often with an elevator, secured entry and heated underground parking. Snow removal, landscaping and exterior repairs are handled by the condo corporation. It's the most hands-off option and the easiest to lock up and leave. See condos for sale.

Townhouse condo

Your own front door and often a garage, with outside maintenance usually covered by the condo fee. Many have two or three levels, so look for bungalow-style townhouses if you want everything on the main floor. See townhouses for sale.

Bungalow

Your own house and yard with no condo fee and no bylaws, and the kitchen, living room and main bedroom on one level. You'll still handle the snow and the lawn yourself, or hire it out. See bungalows for sale.

Adult-oriented and 55+ buildings

Some condo buildings and complexes have age restrictions in their bylaws. If that appeals to you, tell us and we'll flag them. If you want the opposite, check the bylaws before you buy.

Moving to Warman, Martensville or a smaller town

Some downsizers trade the city for a quieter community a short drive away. See Warman and Martensville, or use our neighbourhood and community comparison to weigh your options.

The Money Side of Downsizing

Start with your equity

Your equity is roughly what your home sells for, minus your mortgage payout and selling costs. Many long-time owners have more equity than they expect. Get a professional estimate of your home's value, then use our net proceeds calculator to see what you could walk away with.

Smaller doesn't always mean cheaper

A new condo in a popular location can cost as much as the family home you're leaving. Decide what you want to free up first, then set your purchase budget around it.

Budget for the costs on both sides

Plan for selling costs, legal fees on both transactions, moving, and any updates or furniture for the new place. Our mortgage calculator helps if you'll still carry a mortgage.

Compare monthly costs, not just prices

A condo fee can look high until you add up what you pay now for snow removal, yard care, exterior repairs and building insurance. Compare the full monthly picture, including property taxes and utilities.

Talk to your accountant

In many cases the sale of your principal residence isn't taxed in Canada, but rules vary with your situation. If you've rented part of the home, run a business from it or own more than one property, get advice before you sell.

A Step-by-Step Downsizing Plan

1. Decide what you want next. Use the tool above to narrow down the style, then make a list of must-haves.
2. Know your numbers. Get your home value and estimate your net proceeds.
3. Choose your order. Use our buy or sell first tool to decide whether to sell first, buy first or make a conditional offer.
4. Plan the sale. Build your timeline, prep list and pricing plan with My Selling Plan.
5. Start sorting early. Give yourself weeks, not days, to go through a family home.
6. Shop and list. We'll watch for new listings that match while your home is being prepared for market.
7. Line up possession dates. Negotiate dates that let you move once, with a short overlap if you need it.

Sorting and Decluttering a Family Home

Measure your new space first

Know the room sizes and storage in your next home before you decide what comes with you. Furniture that suits a large living room may not fit a condo.

Go room by room

Start with the spaces you use least, like the basement, garage, spare rooms and closets. Sort into keep, give to family, sell, donate and recycle.

Bring family in early

Ask children and grandchildren what they'd like to keep, and set a date to pick it up. It avoids surprises and makes the sentimental items easier to let go.

Declutter before you list

Sorting early does double duty: a lighter, tidier home shows better and photographs better. See our Seller's Guide for prep tips. Our clients also get access to discounts with partners including Saskatoon Movers and cleaners.

Timing Your Sale and Purchase

Most downsizers sell one home and buy another at the same time. Possession dates can often be set so you move on the same day, or with a short overlap to make the move easier. Your lawyer handles both transactions and can apply the proceeds from your sale to your purchase.

If you need your equity for the next home, selling first or making an offer conditional on your sale is often considered. If you've found a home that would be hard to replace, buying first may be worth discussing with your mortgage professional. Our buy or sell first tool walks through it.

Helping a Parent Downsize

Many of our downsizing conversations start with an adult son or daughter. A few things help: keep your parent at the centre of the decision, visit a few homes together before committing, sort belongings over several visits rather than one weekend, and bring us in early so we can plan the sale around their timeline. We're happy to meet with the whole family.

How We Help Downsizers

Clayton McNally and Jessica Hamel of Trusted Realty, Powered by RE/MAX Saskatoon, help homeowners sell the family home and find the right next one. We price your home using recent comparable sales, help you prepare it for market, watch for condos, townhouses and bungalows that fit your list, and coordinate the dates so you move once. There are no upfront fees, and you can cancel your listing contract at any time.

Downsizing FAQ

When is the right time to downsize?

When your home no longer fits how you live, whether that's unused rooms, too much upkeep or stairs that are getting harder. Many people find it easier to move while it's a choice rather than a necessity, so there's time to find the right home and sort belongings without pressure.

Should I buy a condo or a bungalow when I downsize?

It depends on how much upkeep you want and how you feel about shared walls and bylaws. A condo hands off the snow and exterior maintenance for a monthly fee, while a bungalow keeps your own yard and garage with no fee. The tool on this page can help you decide.

Should I sell my house before buying a condo?

If you need your current home's equity for the purchase, selling first or making a conditional offer is often considered. If you can finance the new home without it, buying first may be an option. Confirm with your mortgage professional and see our buy or sell first tool.

How much money will I free up by downsizing?

It depends on what your home sells for, your mortgage balance, your selling costs and what you spend on the next home. Start with a home value estimate and our net proceeds calculator.

What should I look for in a condo when downsizing?

One-level living or an elevator, in-suite laundry, parking that works in winter, storage, and bylaws that fit you, including pets and any age restrictions. Also review the reserve fund and condo fee history. Our condo guide covers the documents to check.

How long does downsizing take?

The sale and purchase themselves often take a few months, but sorting a long-time family home can take longer. Starting a few months before you list makes the whole process calmer.

Talk to Clayton & Jessica About Downsizing

Tell us about your current home and what you'd like next, and we'll help you plan both sides of the move. Call Clayton at 306.341.4401 or send us a message below.