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