Markham Downsizing Checklist: Your Step-by-Step Plan
Downsizing well is a sequence of clear decisions. Use this checklist to move from your large family home to the right next chapter without leaving value or peace of mind behind.
Get a CMA on your current home, run the full financial analysis (proceeds, target price, carrying-cost comparison, investable capital), identify your living priorities, tour downsizing communities, confirm a sell-first timeline, and consult your accountant on the Principal Residence Exemption.
Use this checklist to downsize in Markham systematically, protecting both your equity and your peace of mind.
The Markham Downsizing Checklist
- Establish your current value. Book a CMA with Michael John Lau for a precise market value on your existing home.
- Run the full financial analysis. Calculate proceeds after selling costs, the target property price, the monthly carrying cost comparison, investable capital, and projected investment income.
- Define your living priorities. Single-level versus stairs, condo versus freehold, community character, proximity to family, and healthcare access.
- Tour the options. Swan Lake Village bungalow townhomes, Downtown Markham condos, Markham Village bungalows, and Grand Cornell Brownstones.
- Plan the move. Arrange downsizing-appropriate moving services and storage for the transition.
- Consult your accountant. Confirm the Principal Residence Exemption on your current home and the tax treatment of your investable proceeds.
Neeraj Moolchandani on decluttering decades of belongings
The hardest part of downsizing is rarely the real estate. It is sorting through decades of belongings, and that always takes longer than people expect.
I encourage downsizing clients to start that process early and, where helpful, to bring in professional support. It makes the whole move calmer and keeps the timeline realistic.
Sequencing Your Sale and Purchase
In the current Markham market, sell first, then buy. Carrying two properties simultaneously, particularly a large detached and a new condo or townhome, is a significant financial risk if the existing home takes longer to sell than anticipated. Selling first establishes your exact equity position, clarifies your purchasing budget, and removes the pressure of a contingent sale. Post-closing occupancy or a short-term rental can bridge any gap between closings.
Frequently Asked Questions
What is the first step in downsizing in Markham?
Get a current CMA on your existing home so you know your precise market value and can build an accurate financial plan around the proceeds.
Should I sell or buy first when downsizing?
Sell first in the current market to avoid carrying two properties. Selling first establishes your exact equity and removes the risk of a contingent purchase.
How do I handle the gap between selling and buying?
Negotiate post-closing occupancy or arrange a short-term rental to bridge the timing, so you are not forced to buy before your current home has sold.
Your Markham Home Deserves a Precise Valuation
Michael John Lau and the Kaizen Real Estate Team deliver a professional, data-driven Comparative Market Analysis built from the actual sold data moving today's Markham market. No automated estimate. No obligation. Just the honest number you deserve.
