EPISODE · Jul 17, 2026 · 18 MIN
Where the Money Actually Goes When You Downsize
from Realty Bytes- Conversations on Real Estate and Lifestyle · host Evelyn Lopes
Where the Money Actually Goes When You Downsize Realty Bytes, EP.215 What this episode covers: Why "sale price minus purchase price" is the wrong way to estimate what you'll walk away with The real cost of selling: commission (4 to 5 percent) plus HST on top of it The real cost of buying: Ontario land transfer tax and legal fees on both transactions The hidden costs almost nobody budgets for: moving, staging, small repairs, and mortgage discharge if it applies A full worked example on a $950,000 sale and a $650,000 purchase, landing at $70,000 to $75,000 in total friction costs Two listener questions answered: does this apply if you're mortgage-free, and is commission negotiable The one thing to remember before you list Mentioned in this episode: Free Downsizing Guide with a built-in net proceeds worksheet: https://contacts.byreferralonly.com/Form3.aspx?Key=D8BBBA6956BA57D245397E6A157C2264 Book a no-pressure call with Evelyn: https://calendly.com/evelynlopes/consultation-meeting-evelyn-lopes-realty-team Link to YouTube Video: https://www.youtube.com/watch?v=uZE6Uzq-IvU The content in this episode is intended for informational and educational purposes only. Nothing discussed constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Always conduct your own research and consult with a qualified professional before making any real estate or financial decisions.New episodes drop every other Tuesday. Follow Realty Bytes so you never miss a conversation.
What this episode covers
This episode of Realty Bytes tackles a question almost every downsizer ends up asking, usually right after closing day. Where did the money actually go? Evelyn breaks down the real friction costs behind a typical Ontario downsize: commission and HST, land transfer tax, legal fees, moving costs, and getting the current home ready to sell. Using a real Caledon-area example, selling around $950,000 and buying around $650,000, she shows why a $300,000 windfall on paper usually lands closer to $225,000 to $230,000 in the bank. The episode also answers two of the most common listener questions and closes with a simple checklist for anyone about to run these numbers on their own home.
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Where the Money Actually Goes When You Downsize
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