Best Places to Buy in New Orleans

With mortgage rates on the rise and home loans harder to obtain, it is important to buy in a good area of the city to avoid paying high insurance rates while still getting a solid deal on your house.

Currently, within the city, Algiers is offering some of the best deals, with hundreds of properties on the market and many of them incurring steep price drops. Central Algiers, around Huntlee Village is a very good deal though Algiers Point is rapidly becoming more affordable.

Across the river, uptown is very good solid though the warehouse district and Maringy are probably better buys. The main thing, however, is to avoid buying properties in heavily flooded areas such as Lakeview, New Orleans East and the Ninth Ward. The houses are either cheap and in teardown condition or are priced way beyond their value.

If you look to areas that did not flood in the storm, you will also save money on your homeowner’s insurance and obtain lower mortgage rates as the property is less at risk. All in all, buying in a dry area of the city makes home buying more enjoyable and home loans more affordable.

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