New Year, New Beginnings: How to Get Started With Homebuying Adventures in 2025

The start of the new year is always the perfect time to feel inspired and commit to that one positive change you’ve been wanting to make. For many, it’s home ownership, and 2025 is going to be your year.

The New Orleans, Louisiana (NOLA), real estate scene has a lot of potential for prospective buyers, so what does homebuying in the area look like? If agents were going to describe it in a few words, it’d likely be “colorful” and “captivating.”

Identifying Your Homebuying Priorities and Circumstances

NOLA compels people for many reasons. The coffees and beignets are legendary, the jazz scene is hypnotizing and the architecture is known around the world. Think about location, budget and amenities as part of your homebuying goals to make the moving journey as smooth as possible.

1. Timeline for Home Purchase

Some regions are in higher demand than others, making opportunities harder to come by. If you have time to look around and find your dream home, you could seek something in more high-profile neighborhoods, like the Garden District. If you’re in a time crunch, Marigny could have more options even though it’s near the French Quarter.

2. Proximity to Entertainment

The French Quarter is best known for its bustling nightlife, which attracts the most tourists. If you’re looking for this type of atmosphere, prepare for a high price per square foot.

3. Budget for Buying a House

You might be able to invest in something as historic as the French Quarter. Otherwise, set your sights on a few of the neighborhoods nearby, such as the desirable Bywater community. Lower Garden and Mid-City are other relatively affordable yet convenient neighborhoods.

4. Accessibility

Communities like Carrollton have prime walkability and general proximity to almost everything you could want, including schools, grocery stores, medical facilities, and even niceties like restaurants and music venues.

5. Space and Modernity

The French Quarter has noticeably smaller homes compared to Audubon or Gentilly, and these homes often include fewer modern amenities. If you want more space to renovate, this area will narrow your options, too.

Understanding the New Orleans Real Estate Market 

The New Orleans real estate market is unique because of its mixture of green neighborhoods, historical attractions and tourist areas. The median home sale price is $339,000 as of November 2024. This is an 11% increase year-over-year, showing how many people are interested in these properties.

Availability fluctuates, with more people tending to purchase in the spring and summer than in other parts of the year. On average, most homes stay on the market for around three months, giving you plenty of time to tour properties you’re interested in.

NOLA’s properties contain boundless charm, and you can ensure you find a place that meets your needs perfectly. You may prefer a home ready-fitted with smart technology or with solar panels to leverage the city’s abundant sunshine. If you love nature then you can select a property with a lush garden, taking advantage of the region’s humidity and mild climate. If you have kids or pets, then choosing a property with fencing is a must. In fact, 78% of dog owners have fenced-in backyards to have their pets running freely and safely. 

Alternatively, you may want a house you can fix up and adjust to suit your specific and unique taste and style. NOLA has got it all!

Hiring a Real Estate Agent to Find Your Dream Property

To get the best property within your budget, you’ll want to work with a real estate agent who can align available properties with your specific interests and budget. A professional is essential for negotiating with sellers and has knowledge of local market insights.

Finding a local real estate expert in the area is straightforward but takes some research. You can use online search tools and databases or ask for recommendations from friends and family in the area.

Once you’ve connected with an agent, ask them a few questions to start the process and learn more about buying a home in New Orleans. For example:

• What can I expect to pay for a home in NOLA?
• What are the typical home features in NOLA houses?
• How close is this property to work, green spaces or schools?
• Are homes in this neighborhood usually new construction, or will they require work?
• Are outdoor spaces shared or private?
• What is the sale price history of the homes in the community?

Financing Your New Home

NOLA real estate agents will explain all the types of mortgage options. Louisiana and the city offer several unique programs, including the Direct Homebuyer Assistance Program. This program gives buyers up to $5,000 in closing cost assistance and up to $55,000 in soft second funds.

Several other home financing options exist, like green mortgages with improvement stipends and energy-efficient upgrades. Other opportunities include FHA loans, standard loans and programs through your workplace if it offers them.

Once you find the best financing method and go through the preapproval process, you’ll make your offer, request inspections, sign closing papers and start your next chapter.

New Year, New Home

Whether you’re coming from out of the state or somewhere nearby, NOLA is the ideal location for a life change if you’re pursuing homeownership in 2025. Every nook and cranny is full of whimsy and history alike, making this a homebuying experience you'll never forget.