| The Warehouse District of New Orleans is a hot | | | | the center of the city you will be looking at |
| real estate area. There are several reasons for | | | | around 300K minimum for a condo, but if you go |
| this, including the fact that it is just a short walk | | | | 15 minutes away to uptown New Orleans, condos |
| from the French Quarter and everywhere else in | | | | can be had for 90K upwards. You don't get much |
| New Orleans is just a streetcar ride away. If you | | | | for 90K, but if you are single and out most of the |
| purchase a home here you can put your car | | | | time then it's a good buy. The average two |
| away because the public transport systems can | | | | bedroom uptown condo will cost around $200+. |
| take you anywhere you want to go. | | | | Many are buying up condos to rent and also as |
| You will find it hard to believe the way that the | | | | second homes, especially close to the French |
| old warehouses and waterside buildings have been | | | | Quarter. The Quarter itself is expensive but as |
| transformed into condos of every size and shape, | | | | said already, the streetcars and buses are |
| suitable both for single people and families with | | | | excellent in New Orleans, and you can get to any |
| children. Elsewhere they might be called lofts, but | | | | area pretty quickly by public transport. |
| in New Orleans they all come under the one name | | | | As with any other form of habitation you get |
| of condominiums. They are available all over New | | | | what you pay for, and New Orleans condos are |
| Orleans, but the warehouse district has been | | | | no different to any other with respect to the |
| particularly developed, both before and after | | | | facilities they offer. Pay the basic price and you |
| Katrina. | | | | get the basic condo, but that is what many |
| Incentives were offered to developers who | | | | people want. In a district where a reasonable |
| maintained the original nature of the buildings. Most | | | | condo is priced at $200,000+, many students, for |
| of the warehouse area developers have kept the | | | | example, or young people in their first job, would |
| exteriors with ultra-modern interiors and fittings, | | | | love the opportunity of a $100,000 condo, no |
| such as the Sugarmill Plantation, where internally | | | | matter how basic. For obvious reasons, however, |
| the whole development has been constructed | | | | these are not easy to find. |
| from the ground up. As time goes on, the | | | | No matter where you want to buy your condo, |
| developments are becoming more and more | | | | or your reason for buying it, you need a |
| highly appointed, and prices are going up | | | | professional realtor to help you through the maze. |
| accordingly. A two bedroom condo in the | | | | There so many laws, such as tax free gains |
| warehouse district will leave you no change from | | | | when you sell a home that has been your |
| $300,000, and prices are increasing. | | | | residence for at least two years. There are other |
| This district is a favorite for young professionals | | | | laws regarding gains on home sales that a good |
| and students, and many condos are purchased to | | | | agent will be able to help you with - not when you |
| rent. Now is still a good time to buy for | | | | sell, but when you buy with a view to selling later. |
| investment, since although the prices have been | | | | That is when you need the advice. |
| reasonably stable over the past year, many units | | | | The area of New Orleans you choose might be |
| still need upgrading and a little bit of work could | | | | important to you. If you have children, you will |
| bring a good return. What they call sweat equity | | | | want to move to an area where there are other |
| is a good way of making money on property | | | | children, not to one where seniors tend to |
| when prices are stable. However, it is believed | | | | congregate, or areas taken predominantly by |
| that these will now rise rapidly, and prices in some | | | | students. You need local knowledge to make |
| eastern seaboard cities of the USA are increasing | | | | these decisions. |
| by over 12% a year. | | | | A condo might be ideal, or perhaps you prefer a |
| One good selling point is that you don't need a car | | | | home with a garden or backyard. You might need |
| much in New Orleans, as already mentioned, and | | | | parking or a garage, or you might want to live |
| parking is not so much of an issue. For that | | | | near your place of work in the commercial areas. |
| reason you will likely have to find some form of | | | | All of these needs can be met by use of a |
| parking with your warehouse district home since | | | | professional realtor or agent. At the end of the |
| you will be leaving it behind so much. With rising | | | | day you want the home of your dreams, and |
| gas prices this isn't a bad thing! | | | | New Orleans real estate is so wide and varied in |
| The condos here are not large, and if it is living | | | | style, size and price that you should be able to |
| space you want then perhaps you should have a | | | | find what you want, given the right help and |
| look at what else New Orleans has to offer. In | | | | direction. |