Shopping for a smaller home as a firm, qualified buyer with funds confirmed also changes how sellers and their agents treat your offer, compared to a conditional offer that depends on your Nutana home selling first.
The tradeoff is timing pressure: once your Nutana home sells, legal fees running roughly $800 to $1,500 and a firm possession date start a clock that limits how long you can wait for the right smaller home to come up.
A short-term rental or a flexible possession negotiated into the sale can buy extra weeks if the right smaller home has not appeared yet. Get your hand-reviewed valuation from Joel Dyck.