Once you've decided that downsizing may be in your future, one of the first questions is usually: Do I sell my current home first, or find my next home first? 

The answer depends largely on your financial situation. If you're financially able to purchase your next home before selling your current one, it can certainly make the transition easier. You can move at your own pace, decide what fits in the new space, and prepare your current home for sale after you've moved. 

But not everyone can or wants to own two homes at the same time. 

And that's okay. There are other ways to make the transition work. 

 

Before You Sell Anything, Move First If You Can 

There is one piece of advice I've given clients for years: 

If at all possible, don't sell or give away your furniture until you've moved into your new home. 

That may sound completely opposite of traditional downsizing advice. We're usually told to start getting rid of everything. 

My experience has taught me otherwise. 

It is very difficult to stand in your current home and accurately imagine what will fit in a completely different space. 

I've had clients sell furniture before moving only to get into their new home and say, "I wish I still had that. It would have fit perfectly right here." 

Once it's gone, it's gone. 

If you're moving into a very small apartment or assisted-living setting, that's obviously different. But if you're moving from one home to a smaller home, condo, townhome or apartment, give yourself the opportunity to see what actually works in the new space before making all those decisions. 

You can always sell or donate something later. 

 

Start Looking Long Before You're Ready to Move 

You don't have to be ready to buy a home to start looking at what's available. 

In fact, I encourage it. 

Go see some homes. Tour a 55+ community. Look at condos or patio homes. Visit an area you've wondered about. Tour a 55+ apartment community even if you've always owned your home. 

You may be surprised by what you like and what you don't. 

I recently helped clients purchase the home they plan to downsize into. They had been thinking about this move for six years. 

Six years! 

That's why I don't think downsizing should begin with putting a For Sale sign in your yard. It should begin with figuring out what you want your next chapter to look like. 

 

What Do You Want Your Next Life to Look Like? 

Instead of only asking, "How much smaller should my next house be?" ask yourself some different questions. Do you want a yard? 

Do you still want to own a home, or would renting give you more freedom? 

Would you enjoy living somewhere with people closer to your age? 

Would you like to walk to get coffee in the morning? Have a fitness center nearby? Walk out your door and onto a trail? 

Would you enjoy having clubs, activities and neighbors around you or would you rather have more privacy? 

I've had clients move from longtime homes into 55+ apartment communities and absolutely love it. They have made friends, joined clubs and discovered a lifestyle they hadn't really considered before. 

There are so many possibilities. 

 

Don't assume you know what downsizing looks like until you've gone out and explored them. What If I Have to Sell Before I Can Buy? 

This is where planning becomes especially important. 

 

Depending on the transaction, it may be possible to negotiate a post-closing occupancy arrangement that allows you to remain in your home for a period of time after closing. 

For example, your home might go under contract with approximately 30 days until closing. If an additional occupancy period can be successfully negotiated with the buyer, that may give you considerably more time to complete your move. 

There are financial, contractual and lending considerations involved, so this isn't something to assume will be available in every transaction. It's something you and your real estate professional should discuss before your home goes on the market. 

There may also be other strategies available depending on your finances and the market. The important thing is to build the plan first. 

 

Yes, You Can Start Downsizing Now 

While I'm telling you not to rush into selling furniture, that doesn't mean you can't start doing anything. There are plenty of things you already know you don't need. 

That box of magazines you've been saving for 15 years? It can probably go. 

Bank statements and canceled checks from decades ago? Determine what you're legally or financially required to keep and securely shred what you no longer need. 

Old paperwork, duplicate kitchen items, things that are broken, clothes you haven't worn in years—those are great places to begin. 

Start with the easy things. 

Don't begin with Grandma's china, the dining-room table or boxes of family photographs. Those decisions can come later. 

You Don't Have to Figure This Out Overnight 

If you're thinking you might want to downsize in a year, two years or even five years my recommendation is the same: 

Start exploring now. 

Go look at what's out there. 

Think about how you want to live. 

 

Understand what your current home might be worth and what your financial options could be. Begin getting rid of the things you already know you don't want. 

And most importantly, don't feel like you have to make every decision at once. Downsizing isn't just about moving into a smaller home. 

It's about deciding how you want to live next and giving yourself enough time to make that decision well.