Buying a home in New Orleans is very different than buying a house in other parts of the country. What is value here may not even make sense in other places...this is why:
1) Location: neighborhood is important, but the distance of your house from other important parts of our culture can be a greater factor such as: a parade route, proximity to jazz fest and other such festivals, proximity to restaurants, then in order...schools, places of worship, etc.
2) Utility: how are you going to use your home? When you live in New Orleans, people WILL come visit..friends, relatives and people claiming to be both or either. This means one has to make the decision how big and how many rooms are needed relative to how you will respond to each season..Christmas, MardiGras, every weekend the Saints play in town, etc.
3) Value: forget perceived value..that is what 99% of Realtors will try and sell you...avoid agents who use the word "cute" and "precious" unless you are buying a Barbie doll or a puppy.
You are buying a commodity that is an investment you are going to live in for the long term, with hopes of it retaining value and hopefully make a profit when you sell.
4) Write down everything YOU want in a home, irreguardless of cost.
5) Now prioritize everything from #4, in order, and put a price on its value..even if not sure. To tighten up your price, goto Home Depot or Lowes and get an idea of what lets say a set of cabinets costs, or a hot water heater and other major components that make a house.
Once you understand 1-5, now you are ready to get pre-qualified. Avoid using a bank. Once pre-qualified, find yourself a seasoned, full time professional to help you find your home.
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