Why People Buy Condos in New Orleans?
There are Many Reasons the market has done well now and in the past. There will always be ups and downs but the trends over the last 15 years have been very positive in most cases.
What are your Reasons?
You can enjoy the freedom from the traditional upkeep and expenses of a single family home. A single monthly payment of a condo fee may include water,sewer, property insurance,security, building upkeep and common area maintenance. You can enjoy the day to day amenities that many condos have; recreational facilities,swimming pools,party rooms, fitness centers and a management staff that is experienced in the daily upkeep of the condos.
Condo living is very attractive to residents who are frequent travelers, or those living in the New Orleans area on a part-time basis. You will enjoy the peace of mind of just coming and going without worrying about the lawn, painting, safety issues and the general maintenance of a single family home.
You can also enjoy areas of town that are just too expensive to purchase a single family such as the Warehouse District , Lakefront, and the French Quarter. There are many choices in the New Orleans metro market. Many condos are conversions from warehouses, offices, and large family homes. So its worth a look to what our town offers in terms of condo lifestyles. Patti and Eric can help you to choose the condo of your choice.
Second Homes in New Olreans
New Orleans is a great place for a second home. People enjoy the many, many things that New Orleans has to offer. Its a great place to visit and share with a family. You do not need to drive miles and miles to get places. Just walk and take the streetcar.
One trend that we see more and more is people living here and then in another city part of the year. Most of these people have some attachment to New Orleans.
A Condo is cheaper than a home
A condo is more affordable than a home. You can have a 200k condo in a neighborhood of million dollar homes. Its more carefree if you are working hard and traveling a lot. Its a quality of life issue.
Cheaper than Rent
Many time owning is cheaper than rent. You are building equity, taking the interest deductionon your taxes plus city taxes. Many times enjoying the appreciation of the market.
Downsizing from a Home
May time a home is just too much to keep up. Many of the home upkeep issues are handled by the condo association. This can be a great life for an older couple or older person alone. Being around other people makes for a loner and happier life.
Going to School for Several Years
Its a great way to house a student for several years and save money. The student can have a room mate or the parents and the family can have a place to visit. Many parents that help their kids hang on to the condo for a secodn home or to rent.
Weekend Second Homes
The people who live close by in places like Jackson, Baton Rouge, Kenner, Metairie, Houma, Mandeville, Slidell, and other close places come to their condos very often. This trend has picked up as kids leave home and parents can spend on themselves.
Working in Town a Lot
Many people work in New orleans a lot but do not have a home here. It often makes sense to buy a condo rather than stay in a hotel. They use it much like a second home. We see more people working contracts with companies where they are here for several months and then o home. The movie and oil business uses a lot of contract employees these days.