Nope. Pick everything up - furniture, vaults, NPCs, craft tools etc. Drop new house deed on your house and Bob's your auntie's live in lover. You'll need to put a new porch down as well so get a porch deed at the same time that you buy your new house deed. Then you can put everything back again.
Only thing to be careful of is that when you upgrade your house, you'll get the old house deed back in your inventory. Make sure you don't get confused and put that on your house thinking it's a porch deed otherwise you'll downgrade your house again and lose the upgrade deed.
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