Switching home consoles and family sharing

Hi!

we just bought a new xbox series X and want to make that the primary xbox in the family room and move our old xbox one to the spare room as an extra console.

If I have the one microsoft account and want to share between xboxes, does that mean I can only ever play on the not home console?

Also, when we first set it up the instructions said to make the new upgrade xbox X the home console.

I have transferred a copy of all the games to the new console - if I switch home consoles do I lose this on the new xbox?

I would like to make the old xbox the home console but that is where all the game purchases were made over the last 7 years.

:)