New Orleans Real Estate: A Mix of Differences

The Big Easy has a lot to offer in the way of New Orleans real estate, with a wide variety of communities and different neighborhoods. However, along with variety come more options of making the wrong choice, and expert advice is needed when buying property in the sprawling city.

This is largely due to the fact that the city has changed since Katrina, and you definitely need advice as to what the best areas for home purchase are right now, and also how others view homes close to the river. It would appear that the house prices increase with altitude, so that the higher up you are then the more you pay. Quite understandable, but not all to do with weather conditions since the same is true to an extent in Los Angeles.

Metropolitan New Orleans is divided into five main areas that are detailed later, among them the City of New Orleans itself, with its stylish French Quarter that is probably what comes to mind immediately when people think of the city. However, there is more to it than just that, and the Warehouse District is very modernized and trendy, and you also have a choice of several more.

Anybody moving into the city from outside will undoubtedly have the effects Of Katrina on their minds, but they need not worry since the reconstruction of the city has progressed much faster than originally envisaged and the metropolis has attained a good degree of economic stability. In fact one of the advantages of purchasing a home in the Big Easy is its stability in real estate prices.

Unlike cities such as San Francisco, where prices have risen far in excess of what would appear reasonable, those in New Orleans have remained fairly stable. We now have a situation in Los Angeles and San Francisco where buyers have very little possibility of an increase in their equity over the next few years, whereas New Orleans buyers should expect to see an equity increase fairly rapidly.

This is an incentive to purchase in Louisiana in general, but in New Orleans in particular. It has nothing to do with recent history, since the same is also true of Baton Rouge which suffered only minor damage. New Orleans real estate is therefore a good investment, in addition to being a good choice if you are seeking a home in this part of Louisiana.

There are several public and private schools in the metropolitan area, and a large number of colleges and universities including the University of New Orleans, the Louisiana State University Medical School and the private Tulane and Loyola universities. Middle class schooling tends to be predominantly private, and there also several black universities.

You will find it easy to get around New Orleans, with its excellent road and street-car system and buses, and it is also well served by Amtrak. The road system into the city is good, and the main residential areas are well served by the public transport system.

There are several new housing developments under way or planned in the city and its general metropolitan area, many introducing high rise building which is a new residential concept for New Orleans that has tended to sprawl and build out rather than up. There are new condos and apartments coming on the market ideal both for businessmen and families. Each of the five main residential areas also has more traditional types of properties available ranging from multi-million dollar mansions to smaller family homes.

The five regions of Metro New Orleans are:

* The City, with the French Quarter, * East Jefferson that contains several residential suburbs close to the city such as Metairie, with its mix of thee new and the old, * The Westbank which is just across the river, * The North Shore with the cities of Mandeville and Slidell, and * The St. Charles and St. John Parishes, that lie upriver.

Each of these regions offers you a good choice of residential properties. However, in New Orleans it is quite possible to have a multi-million dollar mansion just a short hop from a few shanties, so you really have to visit before committing yourself. Not that you would buy a home without seeing it first, but you should have a good look around the area, and check out the neighborhood, the restaurants, schooling, public transport and everything else that relates to the area you decide to live in.

You best bet is to get some local advice, and that is where your realtor earns their money: in bringing some local knowledge into the mix, and ending up with the best New Orleans real estate to meet your needs.

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