Selling a home you've lived in for a long time is a different decision from selling a starter home. The money matters, but it usually isn't the first question. Here are the ones worth answering first.
Start with what you need, not with square footage. CMHC suggests thinking of it as "rightsizing" rather than downsizing: finding a place that suits your needs now and can handle changes in your needs or abilities later [1]. Smaller is one answer. It isn't the only one.
Ask whether your current home can keep up with you. CMHC's checklist asks whether your home can keep pace with changes in health or mobility, whether upkeep is eating into your time or budget, and whether you'd prefer fewer stairs, or none [1]. The Government of Canada's planning questions are similar: what changes would let you stay safely, how you'd maintain the home if you needed help, and whether a more manageable home makes more sense [2].
Look at the neighbourhood, not just the house. Both sources ask about getting around without a car: access to public transportation, shopping and services within walking distance, and community and health services [1][2]. If driving stops being an option, the location you choose now matters more than the number of bedrooms.
Know what the options actually are. The Government of Canada describes three broad types of housing for older adults: independent living, supportive or assisted living, and long-term care, and notes that the rules differ by province [3]. Staying put with changes to the home is also an option; the federal aging-in-place guide gives examples such as handrails, ramps or a home without stairs [2]. If you're comparing a seniors' residence, the federal guidance suggests asking what the monthly cost includes and having a lawyer or someone you trust review the contract before you sign [3].
Plan before you have to. CMHC's point is simple: thinking about it while you're healthy gives you time to make an informed choice instead of a rushed one during an emergency [1].
The sale itself. Selling property can have tax implications, and the Manitoba Securities Commission's handbook advises getting advice on them before you sign a contract [4]. That's a conversation for your accountant or tax advisor. My guide to the selling process walks through the steps: selling your home in Manitoba, step by step.
If you'd like to talk through timing, or whether selling makes sense at all, contact me.
Trevor LeVasseur, Licensed REALTOR® · Greg Michie Realty Group
Sources (checked October 31, 2026)
- CMHC, "Downsizing or rightsizing? Choosing the right home for the next phase of your life"
- Government of Canada (ESDC), "Thinking about aging in place"
- Government of Canada (ESDC), "What every older Canadian should know about: Planning for their future housing needs"
- Manitoba Securities Commission, "MREA Home Owners Handbook"