Thinking About Downsizing, But Not This Year? What to Do This Year Anyway

Thinking about downsizing in Sarasota or Venice, but not this year? That's one of the most common things I hear, and after more than 30 years as a real estate appraiser and now as a REALTOR®, my answer is always the same: you don't have to decide anything this year, but there are a few things worth doing now that make the next chapter much easier when you're ready.

Carolyn Yates is a REALTOR® with Coldwell Banker Realty in Sarasota, Florida, helping long-time homeowners plan a downsize at their own pace, without pressure.

This isn't a sales pitch. If you're two or three years out, that's a good place to be. It gives you time to do this the easy way.

Why start now if I'm not moving this year?

Why start now if the move is a year or more away? Because the hardest parts of downsizing aren't the sale. They're the decisions and the sorting. Twenty-five years in one house adds up. When people wait until they're ready to list, all of that lands in the same few weeks. When they start early, it happens a little at a time.

What should I do this year?

What should a future downsizer do this year? Six things, at your own pace.

1. Get a real number, just to know

Not to list. Just to know. A number built from comparable sales tells you what you're working with, and that shapes every other decision. It's hard to plan your next home when you don't know what this one is worth.

2. Decide what "smaller" means to you

A villa? A condo? A single-story home with a smaller yard? Closer to the grandchildren, or closer to the beach? Write down what you want to keep, like a pool, a guest room or a garage, and what you'd be glad to give up.

3. Learn what the next home really costs

Smaller doesn't always mean cheaper to own. Many villas and condos come with HOA or condo association dues. Many newer communities have a CDD fee on the tax bill. Insurance can be different too. I explain the CDD in What Is a CDD Fee?

4. Ask about your homestead savings

If you've had a homestead exemption here for years, you may have built up savings on your property taxes. Florida allows some of that savings to move with you to a new homestead. It's called portability, and there are limits and deadlines. Your county property appraiser can tell you how it would work for you, and your tax advisor can help you plan around it.

5. Sort one room at a time

Start with the room you use least. A guest room, a closet, the garage. Decide what goes with you, what goes to family, and what gets donated. One room a month is plenty. By next year, the hardest part is done.

6. Finish what you started

Half-done projects cost more at sale time than they do now. A room that's half painted, flooring that stops at the hallway, a fixture that never got replaced. Finishing those slowly, over a year, is easier than doing them all in a rush. I wrote about which projects matter in Should I Finish My Home Projects Before I Sell?

What are the most common downsizing mistakes?

Waiting until everything has to happen at once. Sorting, repairs and the search for the next home all in the same month is exhausting.

Big renovations right before selling. A new kitchen you'll never use may not return what it costs. Ask before you spend.

Assuming smaller means cheaper. Compare the full monthly cost of the next home, not just the price.

Not asking about homestead portability. It's a question for your property appraiser, and it's worth asking before you buy.

Feeling pushed. If someone is rushing you, that's a reason to slow down, not speed up.

What does this look like in real life?

These are situations I see often. They aren't specific clients.

The couple with the four-bedroom. The kids are grown and gone. They use three rooms. They aren't ready to move, but they start sorting the guest rooms, one at a time. When they're ready, the house is ready too.

The homeowner who wanted a number first. They didn't want to talk about listing. They wanted to know what the house was worth, so they could decide between a villa and a condo. Knowing the number made the next step obvious.

The one who waited. They decided in March and wanted to be moved by June. Sorting, repairs and finding the next home all landed at once. Starting a year early would have made that much easier.

Frequently asked questions

When should I start planning to downsize?

When should you start planning a downsize? A year or two before you plan to move is a comfortable head start. It gives you time to sort, repair and decide without a deadline.

Should I renovate before I downsize?

Should you renovate before downsizing? Usually not a big renovation. Finishing projects you've already started and taking care of paint and repairs tend to matter more.

Can I take my homestead savings to a new home in Florida?

Can you take your homestead savings with you? Florida allows some of it to move to a new homestead through portability. There are limits and deadlines, so ask your county property appraiser how it applies to you.

Do I need to buy and sell at the same time?

Do you have to buy and sell at the same time? Not always. It depends on your finances and what you're comfortable with. That's a conversation worth having well before you list.

Will you push me to list?

Will I push you to list? No. If you're a year or two out, I'll help you get ready, and you'll decide when.

Thinking about your next chapter?

Carolyn Yates is a REALTOR® with Coldwell Banker Realty in Sarasota, Florida, helping long-time homeowners plan a downsize at their own pace, without pressure. I work from Parrish to Punta Gorda, including Sarasota, Osprey, Venice, Nokomis, Lakewood Ranch, Bradenton and Wellen Park.

If you'd like a real number on your home, just to know, send me a message. No pressure, and no timeline but yours.

Call or text: 941-400-6838

Priced Like an Appraiser, Staged Like a Designer.

Carolyn Yates, REALTOR®, Florida License SL3552680
Coldwell Banker Realty, 8181 S Tamiami Trl, Suite B, Sarasota, FL 34231
Equal Housing Opportunity.