Downsizing: Where to Start and How to Do It Successfully

by Clint LaCour

If you’re a New Orleans’ homeowner who’s getting older, there are many different reasons to consider downsizing. It could be part of an anticipated lifestyle change due to retirement, an empty nest, or a desire to experience a totally new and different part of the city. Or, you may be looking to reduce home maintenance, upkeep, and living expenses. Making a financially smart move by downsizing from a larger home to a smaller one can help you put money aside for other purposes and result in a new, smaller mortgage payment. Whatever your motivations are, if you’re thinking about downsizing, you might want to consider the following issues and discuss them with your significant other and family members.

Start by Paring Down

Starting to pare down your possessions before you’re actually planning to move is the best way to make the process less stressful and more thoughtful. For inspiration and ideas, look to Marie Kondo’s The Life-Changing Magic of Tidying Up, which guides readers through the process of de-cluttering and getting organized. If you need a great local option, The Occasional Wife is a company that offers everything from organizing and de-cluttering services to managing estate sales, as well as staging homes for sale, and packing, moving, and unpacking your family into a new home.

That said, while paring down is not rocket science, it can be both difficult and liberating for those who’ve lived in the same house for many years. While it’s important to keep the things you love the most, like your favorite art and pieces of furniture, the key is to sell, give away, or donate the rest to charities. It’s time to have honest discussions with your family about what they want (or don’t want) to keep for themselves, and to resolve to move only the things that will have a designated space in your new, smaller home.

Consider Your Finances & Options

Do you want to stay in the same neighborhood, move across town, or move across the country? Are you interested in living in a condo, a townhouse, or possibly an independent living facility, or an assisted living facility? Think through your options by talking to experts like financial advisors, mortgage bankers, and elder law attorneys. In fact, we’re happy to make these professional recommendations. Research the cost of housing and living expenses in the places you’re considering, and contact us to get help figuring out if you should sell first or buy first.

Selling Your Current Home & Buying a New One

When you’re ready to think about selling your current home and buying a new one, we’re here for you. Contact us to ask questions, seek advice, get a free comparative market analysis, and find out how we’ll effectively market your home so that you get the best price.

Condos & Townhouses In New Orleans

Finally, take a look at some of our favorite low maintenance condos and townhouses in walkable New Orleans’ neighborhoods, to get an idea of what’s out there and available to you: