A few years ago, Ralph McLaughlin and his architect wife were shopping when they spotted an appealing condo and -- on a whim -- toured a model unit. Soon, the couple and their two Belgian terriers moved in.

“It’s like an urban village with 10 restaurants and (a) handy Target store,” he says.

As the chief economist for Trulia, which tracks real estate markets throughout the country, McLaughlin always advises homebuyers to take a systematic approach to the selection of a property. But he acknowledges his own choice was more emotional.

“We weren’t seriously looking when we happened upon this condo. But it’s working well for us and has gained 10 percent in value each year we’ve been there,” he says.

McLaughlin and his wife intend to remain in the unit they purchased for many years. That’s one key to a wise property investment.

“Most people’s wealth in real estate is based on staying in the property for at least six to eight years,” he says.

John Rygiol, a real estate broker affiliated with the National Association of Exclusive Buyer Agents (naeba.org), says it’s especially crucial for condo buyers to shop carefully, as appreciation for condos is unpredictable.

“People who buy the wrong condo can find selling tough. That’s because market demand for condos is less than for detached houses,” Rygiol says.

Statistics can tell you a lot about the desirability of a condo building. But your emotional response to a building is also telling, says Fred Meyer, a real estate appraiser and broker who’s sold homes since 1963.

“Make sure you really love the condo with both heart and soul. If you love it wholeheartedly, chances are better others will love it, too,” Meyer says.

Here are a few pointers for those planning a condo purchase:

-- Search for an area with a healthy employment base.

The vitality of a local real estate market is tied closely to the employment strength of the area. But, as Meyer says, the buyers of condos shouldn’t count on a single employer to keep the local economy afloat.

How can you investigate the strength of the local economy?

“Go to the offices of the Chamber of Commerce and ask what’s happening to jobs in the area,” Meyer says.

-- Review data to validate your hunches about the right condo building.

“Look at the resale history for the building going back as long as four years. Notice especially the median number of days it takes to sell units in the building. The more days it takes to go from list to sell, the less liquid the building,” Meyer says.

Also, he says you should be sure to check the “reserves” of the building -- which translates to the amount of money owners have set aside for key repairs and renovations.

“A poorly financed building can become rundown, making it less desirable for future owners,” Meyer says.

-- Avoid a building with unusually low condo fees.

Nearly all condo buildings impose “condo fees” on their residents. Among other expenses, these monthly charges cover the cost of routine upkeep on a building and its grounds, along with support services, like a concierge at the front entrance.

Rygiol says would-be condo buyers sometimes shop for a building with the lowest possible monthly fees to contain expenses. But seeking out a building with rock-bottom fees could be a mistake.

“In my experience, you get what you pay for in condo fees. A building with very low fees might actually decline in value, due to poor maintenance,” he says.

-- Don’t select a building with a large portion of renters.

Homebuyer advocates are wary of buildings in which a large percentage of the units have been rented out by their owners.

“Owner occupants feel a natural pressure to ensure that a building is adequately maintained. Renters don’t feel that pressure,” Meyer says.

What percentage of owner-occupants is sufficient? In most cases, Meyer says you’ll want to see more than half the units occupied by owners. However, this rule may not hold in a resort community where seasonal rentals are the norm.

Though it’s wise to avoid a building with a large number of renters, Meyer says it’s also smart to avoid one that prohibits owners from renting out their units.

“That’s a huge right to give up -- to be forbidden to rent out your apartment if you want or need to do so down the line,” Meyer says.

-- Choose your condo unit wisely.

Even in the ideal building, not all apartments are created equal. Some will be more saleable when it comes time to put your property on the market.

Meyer says it’s usually unwise to buy one of the most expensive condos in a building unless statistics show such apartments have sold readily and for respectable prices.

“It’s usually smarter to buy one of the less expensive units in a building that also has high-end units. Then, over time, the high-end units will help hoist your property values,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

After Joshua Becker and his family sold their 2,200-square-foot house in Vermont and bought a smaller place, they vowed to enjoy the results of a scaled-down lifestyle.

“We considered the benefits of owning fewer possessions: less to clean, less debt, less to organize, less stress, more money and energy for our greatest passions,” says Becker, a professional writer whose books include, “The More of Less: Finding the Life You Want Under Everything You Own.”

But what faces many downsizers -- the process of letting go of excess belongings -- proves arduous.

“There’s a big stigma to downsizing. As Americans, it’s ingrained in us to believe that owning more is better than owning less,” Becker says.

One way to minimize the agony of decluttering is to start with the parts of your home where culling will have greatest impact in the shortest time. For example, before selling their Vermont house, Becker and his wife started in their master bedroom, sifting through clothing to eliminate pieces they no longer wore. Then, they tackled excess toiletries in their master bathroom.

“When you’re going to a smaller house, you must decide which things have the most meaning for you,” says Beverly Coggins, author of “Three Steps to Downsizing to a Smaller Residence.”

A professional organizer since 1995, Coggins says she’s learned it’s best to break the work into chunks rather than to attempt marathon sessions.

To avoid excessive fatigue, she encourages downsizers to focus their work on the times of day they have peak energy. Also, she recommends they spend no more than four or five hours at a time on these chores.

Here are a few tips for those of any age who are moving to a smaller domain:

-- Liberate yourself of extra furniture early in your transition.

For most people, one major step toward downsizing involves dispensing with large pieces of furniture. Beyond precious antiques and family heirlooms, many find this process relatively easy because they don’t have sentimental attachments to most furniture.

Sid Davis, a real estate broker and author of “A Survival Guide to Selling a Home,” says one way to clear space and furniture quickly is to put it up for sale.

If you have valuable antiques to sell, you’ll probably want to find a reputable dealer. But more routine items of furniture, as well as household belongings, can be effectively sold through an informal sale.

“People are surprised at how much money they can make through a local yard sale,” says Davis, who recommends that downsizers work with neighbors to attract more interest to their event.

-- Save money by avoiding use of a storage unit.

Many downsizers succumb to the temptation to place their belongings in a storage unit before they move. But Coggins strongly advises against this course if you can avoid it.

“Storage units are expensive. And for most people, they’re just an excuse to postpone making decisions on stuff they need to eliminate,” she says.

When working with downsizers, Coggins encourages them to dispense with many items -- including clothing that no longer fits -- especially if they haven’t used it for a year or longer. The same applies to many household items.

She says many people feel especially anxious about letting go of gifts from relatives or close friends. But she says such guilt is needless.

“It doesn’t mean you love the person any less because you can’t keep everything they give you,” she says.

To be sure, you’ll not want to cast off items with unusual meaning to you, like family pictures and love letters. But unfortunately, you may not be able to take everything you love. In such cases, Coggins suggests you take photos of the treasured items -- like a grand piano passed down in the family. These can be framed and hung up in your new domain.

-- Make it easy to donate items to charity through pickup services.

Many downsizers find it easier to let go of extra belongings if they know they’ll go to good use. That’s why Coggins and other professional organizers often advocate contacting charitable organizations interested in collecting serviceable items.

Very often charity groups will pick up items from your home, a convenient way to free yourself of clutter. Also, with a pickup appointment, you’ll have a definite deadline for your work, which can serve as a motivating factor.

The Salvation Army, for example, offers pickup services in many areas. To learn more or schedule a pickup, visit salvationarmyusa.org or contact its toll-free number: 800-728-7825.

-- Stay focused on the positives in your future.

Many seniors downsize because they must cut expenses. But even those who must downsize involuntarily often find that the process has positives.

As Coggins notes, with fewer home upkeep demands, you’ll have more time to focus on the people most important to you.

“After downsizing, many people realize it’s relationships, not stuff, that brings them happiness,” she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Many millennials spend a decade or longer struggling to assemble the down payment they need to buy a first home. Meanwhile, home prices continue to rise and mortgage rates are on the upswing.

But many aspiring homebuyers make it harder on themselves than necessary, says Rob Chrane, the founder and CEO of Down Payment Resource, an Atlanta-based company.

All too many would-be homeowners believe they must amass a 20 percent down payment before they can make a purchase. But in a still-recovering economy, spending years trying to save that much can be like chasing a moving train.

“The costs of waiting so long outweigh the advantages of a larger down payment,” Chrane says.

Many people are unaware they could access one of many down payment plans that are available to help prospective buyers. These include grants, loans and tax credits.

Indeed, the mission of Chrane’s company is to connect buyers with a host of these programs -- many of them offered by state and local governments seeking to encourage homeownership in their areas.

“Low down payment options will play a central role in the revival of first-time buyers in the months to come,” he says.

Although the homeownership rate for Americans under 35 improved slightly in 2017, it still trails the rate of five years ago. One issue is that salaries for young adults have been rising more slowly than home prices.

Here are a few pointers for those pursuing ownership without a family assist:

-- Start by analyzing your current financial picture.

One huge obstacle to saving for a house is unmanaged day-to-day spending, says Tom Early, a real estate broker and former president of the National Association of Exclusive Buyer Agents (naeba.org).

Before deciding how to reallocate your income, Early recommends you review where your money has gone -- category by category -- over a recent three-month period. This can be done either with paper and pencil or with such software as Quicken. Alternatively, there are free personal finance apps available online.

Doing this preliminary inventory can absorb many hours as you sift through bank and credit card statements. Done properly, this process might consume a full weekend, but is well worth the time invested, Early says.

-- Craft a spending plan with home-buying in mind.

Once you know where your money is going, it’s time to create a new budget that allows you to meet your basic needs while letting you build savings for your home purchase.

“People who develop a serious spending plan derive enormous long-term payoffs,” says Eric Tyson, a personal finance expert and author of “Mind Over Money: Your Path to Wealth and Happiness.”

He encourages you to closely evaluate every category of your spending in search of possible reductions.

“Some areas, like restaurant bills, will probably have more fat than others. But every area should be fair game for cutting,” according to Tyson.

For instance, don’t accept the rent on your apartment as a given, especially if you live in a luxury complex with upscale amenities you rarely use. When your lease is up, are you willing to move to a more modest building to reduce your rental costs?

Likewise, you’ll want to carefully examine your transportation spending. If gas and insurance costs are hitting you harder than they have to, what about switching to public transit or getting by with one car instead of two? You can also cut energy costs by reducing utility bills, particularly air conditioning, during the warmer months.

Financial planners often point to food expenditures as an area ripe for reductions. Many people are shocked when they realize how much they’re spending on carry-out food and restaurant meals.

“Why not start packing a lunch for work and learn to cook basic meals at home rather than going out to eat once or twice a week? Anyone can acquire these money-saving habits if they realize the benefits of doing so,” Tyson says.

As you create your new spending plan, don’t overlook seemingly small or relatively infrequent expenditures that can add up.

For instance, Tyson suggests you ask your doctors if they would prescribe generic drugs rather than more expensive brand name ones. Question your dentist on whether you need X-rays every six months to a year. And closely analyze your telephone bills.

-- Try to conquer your credit card debt.

It’s bad enough that many young people continue to pay student loans years after they’ve left their schooling years. But many also acquire substantial credit card debt during college.

“When people are serious about saving for a house, they try to zero out as much toxic debt as possible,” Tyson says.

You probably won’t need a financial adviser to help dig out of credit card debt, though you can find useful guidance through a book on the subject. One Tyson recommends is: “Deal With Your Debt,” by Liz Pulliam Weston.

“Like battling extra pounds when you diet, committing to home-buying means making a deliberate and concerted effort to tackle credit card debt,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)