If your Franklin home feels bigger than your life today, you are not alone. Many empty-nesters reach a point where extra rooms, yard work, and stairs no longer match their lifestyle. You want comfort, convenience, and a smart financial move. In this guide, you’ll learn how to downsize in Franklin with confidence, from picking the right home type to planning your timeline and understanding costs. Let’s dive in.
Why downsize in Franklin
Franklin sits in Williamson County with quick I-65 access to Nashville and the airport. You get a suburban feel with city convenience. Healthcare is close by through Williamson Medical Center, and you have specialty options in Nashville when needed. Downtown Franklin offers local dining, arts, and events. CoolSprings delivers shopping and services in one spot.
Local market dynamics matter. Larger homes often sell well in strong seller markets, which can free up equity for your next purchase. Smaller, low-maintenance homes can be limited, so you may need flexibility on neighborhood or timing. Many condos and townhomes include HOAs. Budget for dues and review rules like rental or pet policies before you commit.
Franklin housing choices
Single-level homes
If fewer stairs are a priority, look for ranch-style homes or modern bungalows. These often provide easier movement, fewer thresholds, and the option to age in place with small updates.
Condos and townhomes
You’ll find lower-maintenance living closer to downtown Franklin and in areas near CoolSprings. Exterior work is often handled by the association. That frees your time while keeping you near shops, services, and entertainment. Review HOA budgets, reserves, rules, and upcoming assessments to avoid surprises.
Amenity-rich communities
Master-planned neighborhoods such as Westhaven offer social activities, trails, and community gathering spaces that appeal to active residents. Some homes can include maintenance programs or simplified landscaping. Verify what the HOA covers in each section of the community.
55-plus communities
Age-restricted neighborhoods can deliver a social, lock-and-leave lifestyle. If you are considering this option, check community rules, fees, and on-site amenities to match your priorities.
Small homes with rural appeal
If you want a smaller footprint with a quieter setting, look to nearby scenic areas like the Leiper’s Fork surroundings. You gain privacy and character. Factor in longer drives for shopping and appointments and the added upkeep a rural property can require.
Accessibility features
As you tour homes, watch for:
- Single-story floorplans and minimal steps
- Wide doorways and hallways
- Walk-in showers and grab bar support
- Lever handles and good lighting
- Low-maintenance flooring and exterior materials
Costs, taxes, and legal basics
Downsizing has several cost buckets. Your total will vary by property and timing, but plan for the following:
- Pre-listing prep: paint, landscaping, minor kitchen or bath fixes, deep cleaning, and staging
- Selling costs: agent commission and closing costs
- Moving and storage: especially if dates do not align
- New home costs: closing costs, HOA dues if applicable, utilities, and any small updates or accessibility projects
On taxes, many homeowners who meet federal rules can use the primary residence capital gains exclusion. The typical exclusion limit is up to $250,000 for a single filer or $500,000 for a married couple filing jointly, based on ownership and use tests. Always confirm your situation with a CPA or financial advisor.
Tennessee does not tax wages at the state level. Property taxes are administered by Williamson County. For accurate schedules and assessment details, check with the county offices. If you are selling, be ready to complete Tennessee-required seller disclosures. If the property has an HOA, you will also provide association documents and details on any pending assessments as part of your contract timeline.
Financing and timing choices
Your move plan depends on whether you sell first, buy first, or do both at once.
- Buy first: Get a mortgage preapproval. If most of your equity sits in your current home, consider a bridge loan or HELOC. Weigh interest costs and lender requirements.
- Sell first: You avoid carrying two homes but may need a rent-back, short-term rental, or flexible closing to time your purchase.
- Reverse mortgage (HECM): For homeowners 62 and older, this can be part of a long-term plan. It is complex and requires counseling. Speak with a financial planner to decide if it fits your goals.
- Cash vs financing: Cash can strengthen an offer. If your funds are tied up in your current home, bridge options or a sale contingency may help.
Sell or rent your current home
If you are weighing whether to sell or keep the property as a rental, run the numbers and the lifestyle fit.
- Pros of renting: Ongoing income potential and long-term upside while holding the asset.
- Cons of renting: Landlord duties, vacancy risk, and possible HOA or local restrictions. Property management fees can be worth it but affect returns.
A clear pro and con analysis, including likely rental rates and maintenance, will help you decide which path supports your goals.
Step-by-step timeline
A 6 to 12 month plan keeps stress low and results strong. Adjust based on your pace.
Phase A: 6–12 months out
- Meet a financial advisor to outline a budget and estimate net proceeds
- Request a comparative market analysis for your current home
- Start decluttering room by room with sell, donate, keep, and store lists
- Visit open houses to test-floorplans and neighborhoods
Phase B: 3–6 months out
- Hire a listing agent with Franklin downsizing experience
- Finalize a sale-prep plan that targets high ROI projects
- Decide buy-first vs sell-first and obtain mortgage preapproval if needed
- Get moving company estimates and reserve dates
Phase C: 0–3 months to move
- Launch the listing with professional photos and a clear marketing plan
- Negotiate timeline details like rent-back or flexible closing
- Complete Tennessee disclosures and HOA document delivery
- Pack essentials first and set aside important documents
Phase D: 0–2 months after move
- Update address, utilities, and healthcare providers
- Set up your main-living areas for easy access on day one
- Sell or donate remaining items through consignment or an estate sale
Prep to sell smart
Focus on simple, high-impact updates. Fresh neutral paint and light landscaping can do more than a costly remodel. Fix small items in kitchens and baths, refresh grout and caulk, swap dated hardware, and replace burned-out or dim bulbs. Declutter to make rooms feel larger. Professional staging helps buyers picture a right-sized life in your home.
For marketing, highlight single-level living, flexible rooms, and outdoor spaces like porches or patios. Quality photography is essential, especially for floorplan flow and easy-living features that appeal to empty-nesters.
Lifestyle and neighborhoods
Walkable downtown
If you want dining, music, and events within minutes, downtown Franklin offers character homes, cottages, condos, and townhomes. Expect limited inventory and be ready to act when the right fit appears.
Amenity-focused living
Communities with clubs, trails, and social activities support an active routine. They often include HOA-managed exteriors or yard services. Review exactly what is included so your monthly budget is accurate.
Quiet suburban pockets
Smaller single-family or patio homes in established neighborhoods balance privacy with manageable upkeep. Ask about landscaping options or vendors if you prefer to outsource yard care.
Rural edge
If you prefer scenic drives, starry nights, and a little elbow room, look to areas near Leiper’s Fork. You gain space and a tranquil setting. Plan for longer trips to services and consider maintenance needs like septic, wells, or private roads.
Move support and services
The emotional side of downsizing is real. Give yourself time and use a phased approach.
- Start with easy decisions. Tackle duplicates, seasonal items, and paper files first.
- Digitize photos and key documents. Create a memory box for irreplaceable keepsakes.
- Consider a senior move manager or professional organizer if the task feels overwhelming.
- If you need small accessibility updates, look for a contractor with Certified Aging in Place Specialist credentials.
Ready to talk strategy
When you are ready to map out the best path in Franklin, you deserve a calm, coordinated process. With 30-plus years of local experience, premium staging and marketing, and hands-on negotiation, our team helps you sell well and land in a home that fits your next chapter. Start with a conversation and a custom valuation. Connect with Mary Brown to plan your move with confidence.
FAQs
When is the right time to downsize in Franklin?
- Consider a move when rooms sit unused, maintenance feels burdensome, or your budget would benefit from lower costs and unlocked home equity.
How do I choose between a condo and a small home?
- Condos and townhomes reduce exterior upkeep but include HOA rules and dues, while smaller single-family homes offer more autonomy with some maintenance responsibility.
What are the top cost items when downsizing?
- Plan for sale prep and staging, selling and closing costs, moving and storage, and new home expenses like closing costs, utilities, and possible HOA dues.
Can I avoid capital gains tax when selling my home?
- Many sellers who meet federal ownership and use tests can exclude a portion of gain; confirm your eligibility and details with a CPA or tax advisor.
Should I buy my next home before I sell?
- Buying first helps you avoid a gap in housing but may require preapproval, a bridge loan, or a HELOC; selling first simplifies finances but may require a rent-back or short-term rental.
Are there 55-plus options in the Franklin area?
- Yes. Age-restricted communities exist in and around Williamson County; review amenities, rules, and fees to confirm they fit your lifestyle and budget.
What disclosures do Franklin sellers need to provide?
- Tennessee requires seller property disclosures and, if applicable, HOA documents and assessment details according to state forms and contract timelines.
