Downsizing isn't about losing something. For a lot of SLO County homeowners, the house that raised the kids now means extra bedrooms nobody sleeps in, a yard that eats up every weekend and stairs that feel a little steeper every year. Downsizing is about simplifying life, cutting maintenance, improving cash flow, getting closer to family, or finding a home that fits the chapter you're in now.
The question we hear every week is, “What's the best way to downsize?” If you've owned your home for years, you're likely sitting on more equity than you realize, and that opens up options that weren't there when you bought. We'll walk you through all of them, explain the trade-offs in plain language, and build a plan around your goals and timeline.
Want to go deeper? Watch our Right-Sizing Your Home workshop or How Seniors Can Move with Prop 19.
The right path depends on four things: your finances, your goals, your timeline and your comfort with risk. Here's the big picture.
Buy First, Then Sell
Buy the next home, move once at your own pace, then sell the old one. If the numbers work, it's the least stressful way to downsize.
Buy First, Keep It as a Rental
Keep your low-rate home as a rental and add an income stream for retirement. As investors ourselves, this is one of our favorites.
Sell and Buy at the Same Time
Both closings are coordinated for around the same day, so you access your equity right away and never carry two homes.
Sell First With a Rent-Back
Sell, stay put for an agreed period, and shop with cash in the bank. For many downsizers, the best balance of certainty and convenience.
Sell First, Then Buy
Rent short term or stay with family, then buy with no contingency. The most buying power, and a chance to test-drive a new town.
Everything we walk our downsizing clients through, in one guide: all five strategies side by side, how Prop 19 lets you take your low property tax with you, the capital gains basics, where to find single-level and 55+ living in SLO County, and a month-by-month plan for sorting and moving.
Read it at your own pace, then reach out when you're ready to talk through your options.
Get the Free Guide
Prop 19. If at least one owner is 55 or older, you can generally take your current taxable value to a new primary home anywhere in California, up to three times. Buy within two years before or after your sale, and if the new home costs more, only the difference is added.
Capital gains. Married couples can generally exclude up to $500,000 of gain on a primary residence ($250,000 if single) after living there 2 of the last 5 years. Longtime owners here often have gains above that, so it pays to know your numbers before you list.
The cost of staying. Upkeep, utilities and insurance on space you don't use add up, and the equity in your home could be working for you. We'll run the numbers side by side so you can decide with confidence.
Rules and eligibility vary. Confirm with the San Luis Obispo County Assessor and your CPA or tax professional.
Get Your Home's ValueThe house usually isn't the hard part. It's the garage, the closets and the memories in them. Start early and it feels manageable.
6+ Months
Plan
Get your home's value and pick a strategy. Talk with a lender and CPA, and start decluttering the spaces you never use.
3 to 4 Months
Sort
Offer heirlooms to family while you can share the stories behind them. Sell, donate or schedule an estate sale for the rest.
1 to 2 Months
Prepare
Handle the repairs that matter to buyers, then stage and photograph. Book movers early, especially in summer.
Listing to Close
Sell
We market, negotiate and manage escrow, usually 30 to 45 days once you accept an offer, and line up a rent-back if you need one.
Ready to map out your next move? Let's sit down and talk it through.
Book a Downsizing Strategy SessionWe're Owen and Camille Schwaegerle, a husband-and-wife team raising our family right here in SLO County. We both came to the Central Coast for Cal Poly and never left, and as investors ourselves, we know how much is riding on your next move.
We take the time to understand your goals, explain every option in plain language, and coordinate all the moving pieces, from Prop 19 paperwork to the estate sale, so your next chapter starts on the right foot. Call or text us at 805-716-6653, or let's connect.
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