How should you compare downsizing costs?
Prepare a separate monthly-cost view and one-time-cost view for each option. Record the source, date and whether each amount is confirmed, estimated or unknown. Compare the same household needs and included services. Check the manual totals only after the missing information is visible; a smaller property is not automatically the less expensive option.
Begin with the homeowner's priorities from the downsizing consultation. The cheapest-looking column may not fit the location, layout or support arrangement they want. A cash-flow comparison is one part of the decision, not a recommendation to sell, rent, renovate or invest.
Separate the two kinds of spending
| Monthly or recurring | One-time or transaction-related |
|---|---|
| Rent or mortgage payment | Moving and preparation quotes |
| Property taxes and home/tenant insurance | Legal costs and transaction-specific adjustments |
| Condo/strata fees and utilities, where applicable | Purchase taxes, registration or other local closing costs |
| Maintenance, snow/yard work and chosen services | Adaptation work or a quoted special levy |
| Transport, parking or storage | Mortgage payout-related charges confirmed by the lender |
These are prompts, not a complete fee schedule. The FCAC selling-cost guide identifies legal, discharge, moving and other potential selling costs. Confirm the costs and tax treatment that apply locally. Do not insert a standard commission rate or a national transfer-tax amount.
Check which items are already included in a rent, fee or service package before adding them again. Keep an annual bill converted to monthly separate from a one-off expense. This avoids a comparison that mixes different periods or counts a charge twice.
Use arithmetic that leaves unknowns visible
FICTIONAL MANUAL EXAMPLE — NOT A MARKET ESTIMATE
One current-home scenario lists a $1,200 mortgage payment, $300 property tax, $125 insurance, $240 utilities and $80 transport/storage per month. Those entered amounts total $1,945.
Snow-clearing and other support costs are still unknown. Therefore $1,945 is a subtotal of known entries, not a complete monthly housing total. A $3,600 annual tax entry divided by 12 is $300 per month; it is not added a second time as an annual cost.
These are fictional figures, not quotes or an affordability calculation. The kit's DOCX cost worksheets use manual totals. No formula fills the missing rows, calculates mortgage payments or recommends an option. Check the arithmetic and the source records before presenting a comparison.
Mortgage payments include principal and interest where applicable. This worksheet follows cash payments; it is not a calculation of investment return or wealth creation. If a seller-proceeds scenario is needed, keep it separate from ongoing costs and use verified balances and selling costs.
Ask different questions for each option
Stay: Which maintenance or service tasks need a quote, and is the service available? Adapt: Who confirms feasibility, scope, approvals and cost? Rent: What do the actual agreement and included services cover? Buy: Which ongoing charges, local closing costs and property-document questions remain?
For condo or strata options, use the local terminology and appropriate document-review process. Do not assume that every maintenance task is covered by a fee. For winter access, ask about the actual route, parking and service responsibilities rather than relying only on a summer viewing.
The FCAC housing-options resource notes that costs depend on services and that local programs vary. Confirm present eligibility and terms with the provider or responsible agency; the kit does not determine program eligibility or care requirements.
Turn missing information into the next action
List the question, who will obtain the answer and the expected review date. A written snow-clearing scope, an actual rental inclusion list or a lender response is more useful than assigning a guess just to finish the table. Mark a quotation as an estimate until the relevant terms are confirmed.
Ask the homeowner which option they want to explore next and what they are comfortable leaving undecided. If they want others involved, use a homeowner-led family meeting to agree on tasks and sharing. The cost page records working information; it does not authorize a contract or action on belongings.
Keep the date and assumptions beside the comparison. Refresh them when circumstances change. A useful result may be a better question or a reason to pause, rather than a completed total or a decision to move.
Official references checked October 20, 2026: FCAC housing options; FCAC selling costs. General information only. Confirm current local requirements and seek appropriate legal, tax, mortgage, medical or accessibility advice for the actual situation.