{"id":8,"date":"2026-08-31T12:00:00","date_gmt":"2026-08-31T12:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/joeannsellshomes-ca\/2026\/08\/31\/why-downsizing-often-costs-more\/"},"modified":"2026-08-31T12:00:00","modified_gmt":"2026-08-31T12:00:00","slug":"why-downsizing-often-costs-more","status":"publish","type":"post","link":"https:\/\/www.joeannsellshomes.ca\/blog\/2026\/08\/31\/why-downsizing-often-costs-more\/","title":{"rendered":"Why Downsizing Often Costs More"},"content":{"rendered":"<div class=\"video-zmyer\">\n<div class=\"video-frame-zmyer\">\n        <iframe loading=\"lazy\" width=\"640\" height=\"640\"\n                src=\"https:\/\/www.roomvu.com\/agent\/embed\/joeann-chabrol\/downsizing-home-costs\"\n                frameborder=\"0\"\n                allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\"\n                allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>Many Canadians nearing retirement saw downsizing as simple equity math, but hidden selling, moving, and financing costs often shrank the expected cash windfall.<br \/>\nA current survey showed the choice was nearly split: 46% planned to downsize within 2 yr of retirement, while 47% said no.<br \/>\nSelling costs were a major drag. In Canada, closing costs typically ran ~4% to ~7%, with commissions alone often ~3% to ~7%.<br \/>\nMoving could add thousands more, especially across provinces. Buyers also faced much higher current mortgage rates than many pandemic-era homeowners had locked in.<br \/>\nCanada&#039;s tax rules helped: a principal residence sold after qualifying ownership could avoid capital gains tax entirely, though only one property counted each year.<br \/>\nDownsizing made more sense when savings clearly beat selling costs, but many retirees stayed put, wary of relying too heavily on home equity.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Many Canadians nearing retirement saw downsizing as simple equity math, but hidden selling, moving, and financing costs often shrank the expected cash windfall. A current survey showed the choice was nearly split: 46% planned to downsize within 2 yr of retirement, while 47% said no. Selling costs were a major drag. In Canada, closing costs [&hellip;]<\/p>\n","protected":false},"author":189,"featured_media":99,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/posts\/8","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/users\/189"}],"replies":[{"embeddable":true,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/comments?post=8"}],"version-history":[{"count":0,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/posts\/8\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/media\/99"}],"wp:attachment":[{"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/media?parent=8"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/categories?post=8"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joeannsellshomes.ca\/blog\/wp-json\/wp\/v2\/tags?post=8"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}