Investing in NOLA Luxury Real Estate

investment luxury new orleans homes

Investing in a Property in New Orleans

Whether you are a real estate investor or someone who is using real estate as a mode of investment for his future, choosing the location wisely is the key to success. Saving a few thousand dollars but choosing the wrong location can make a huge difference in your rate of return. This is where New Orleans comes into picture. Investors from as far away as New York and California are coming over to this city in Louisiana in search of their dream property. These investors are discovering what the locals have always known. Investing in New Orleans luxury homes can be very profitable for you.

Investors have profited in a big way with their properties in New Orleans in the past. Last year was no exception with a booming housing market. This trend is expected to continue in 2017 as well. However, before taking the first step, it is a good idea to know a little bit about New Orleans real estate.  

Profit from high rentals in New Orleans

Rental rates in New Orleans are quite high at the moment. This means that you should buy a property in this city and rent it out to easily pay your monthly installments. However, a vibrant real estate market is not just for buyers as those who invested in a property in New Orleans earlier also have a great opportunity to reap the rewards as they can sell off their investment to book profits. Good news for potential investors is that mortgage rates are at a record low at present.

Property prices are leaping ahead but they are still manageable

If one goes by rate of increase of real estate prices in New Orleans, he learns that it was more than double of the national average of 4.9%. Property prices in New Orleans increased on an average by 10.9% in 2016. Despite this increase, property prices in this city are still quite affordable from the standards of New York, San Jose, L.A, and some other metro areas across the country.

New Orleans continues to attract employees in diverse fields

new orleans luxury home investmentsNew Orleans has a diverse economy. It is a major hub for not only Hollywood but also great for entrepreneurs and business community in general. It is also a center of activity for people associated with medicine world. Therefore the city continues to attract people from all walks of life who are ready to pay high rents to be able to live and work here. New Orleans is an important tourist destination because of its historical sites, structures and beautiful architecture. All these aspects confirm the fact that you can expect a high rent from the property that you are planning to buy in this city. If you do not have the time to look after the maintenance of your property and the process of selection of tenants, you can easily leave the responsibility on a property management company.

Think big on Big Easy

If you can afford, it is the right time to invest in New Orleans luxury real estate. New Orleans is a city where citizens love to live lavishly. During Mardi Gras celebrations alone, millions of dollars are spent by New Orleans people on partying on the streets. New Orleans, also called Big Easy, is the birthplace of Jazz music and it is also a place where foodies converge during the month long celebrations to devour on culinary lights from cuisines as varied as Cajun and Creole. One can get a glimpse of New Orleans lifestyle during Mardi Gras festival. Big Easy , the biggest port of the country, also happens to be the commercial capital of Louisiana.  

Reasons why there is demand for luxury real estate

luxury-condosLuxury real estate is bouncing back in New Orleans. It is partly because of the rich and wealthy homeowners who desire to be in this prime location to enjoy luxury lifestyle and also Mardi Gras celebrations. It is also because of the steadily rising demand for luxury property from the customers. As prices increase cutting along all types of residential units in New Orleans, there is renewed interest among the buyers for luxury homes for sale. These investors are hoping that they can reap the rewards in the same manner as buyers of single family homes and condominiums are getting. As prices of homes go up, more and more customers are clamoring for luxury property in New Orleans. This attraction and craze for luxury homes also stems from the fact that there is allure of the multicultural environment of the city among the people. The architecture of New Orleans, serves as another big attraction for the tourists and the investors looking for a place to buy properties. This architecture has influences from European, African, and Caribbean cultures. You can feel and experience these influences in Italian estates, Greek mansions, Creole cottages, and of course in modern high rise buildings and luxury condos for sale.

There are not just historic districts in New Orleans but nearly 20 specially designated cultural districts also. One of these, called Warehouse district, has two museums and many art galleries inside it. Art, culture, and architecture are some of the major reasons why luxury real estate is doing so well in New Orleans.

Wide range of luxury homes to choose from

If you have made up your mind to invest in luxury real estate in New Orleans, you have a big price range to choose from. You can get a luxury home in the city for as little as $500k though there are also villas and mansions in upwards of $3 million. There are some that require very costly renovation work (to the tune of several handed thousand dollars). In spite of high prices and such high cost of repairs, luxury homes do not stay for more than a week on the market. This shows the strength of the luxury real estate in New Orleans and the direction in which it is moving.

Neighborhoods to search for your luxury home

The neighborhoods in New Orleans that are considered upscale and where you find a higher concentration of luxury homes and mansions are French Quarter, Bywater, and Marigny. These are also localities where your investment could fetch a high rental value. Median Air BnB rental income in French Quarter is $4050 per month whereas it is $3053 in Marigny. This means that you can recover a high percentage of your monthly installment you pay to your lender for the mortgage loan you avail to buy a luxury home in these neighborhoods. Other localities in New Orleans to consider for purchasing a usury property in New Orleans are Lower Garden District, Treme and Seventh Ward.

Real estate in New Orleans has been going strong for quite some time now. Property prices have also increased much in this cultural hub of Louisiana in last few years. This trend is likely to continue for some time. If you want to make the most of this double digit increase, it is a good idea to invest your money for buying a luxury home in Big Easy. Not only will its price appreciate in the years to come but you can also expect a high rental to get some help in your repayment to your lender.

 

 

 

 

 

 

 

 

 

 

New Orleans Luxury Living on the Water

new orleans luxury homes for sale

Waterfront Luxury Living

The Greater New Orleans area has multiple types of waterfront property extending around Lake Pontchartrain.  Living on the southern side of the lake around Bucktown your balcony or window view would be that of the Southern Yacht Club Marina.  This is where boat owners sail their small vessels out onto the open waters of the lake on calm weather days.  There is much more boats and jet-ski activity visible on the weekends than weekdays.  Fishing, water skiing, sailing and jet skiing are just a few of the water sport activities available year-round here.  

Condos on the Water

Spectacular views overlooking the large marina from balcony in a high-rise condo.   On southwest side of the lake you can witness some of the annual watercraft sport events and other lake activities.   The nearby renovated boat launch is the favorite spot for those hoping to see what fish are biting or how others handle boat trailers is quite entertaining.

Northshore Waterfront Living

Waterfront homesSt. Tammany has Multi-Level Mansions facing the lakefront in Mandeville with fantastic views of the water activities all along the north shore of Lake Pontchartrain. Most of these elite homes have an attached boat dock for instant access to the multiple lakes, canals and Gulf of Mexico.

Madisonville is famous for its hidden lakefront cabins with small private boat docks. The smaller boats have access to inland canals with lower water than the larger deep water boats at the mansions. Wooded acreage of the main road has sturdy ranch style homes with barns close by multiple water canals.  These are great for kayaks, pirogues and small flat boats to do some relaxing fresh water fishing.

Fog floating atop the Tchefuncte River as the sunrises and the colorful sunsets over the Lake Pontchartrain.  Elevated multi story houses along the lake with scenic views and tranquility can be found in Mandeville.  

New Luxury Condo – City Life

french quarter

New Luxury Condo and City Life

Mainstream millennials are attracted to a city to settle down in that represents the principles they believe in while offering an abundance of fun to unwind during down times.  They have been relocating to the city of New Orleans in droves after all the media coverage of resilient rebuilding of our community after Hurricane Katrina.  Their very busy lives leave no time for house upkeep so they require the latest trending technology available within these condo units or lofts to keep life simple.  Condo owners provide many extra amenities such as private balconies, pools, courtyards, common areas, exercise room, 24-hour security, covered off street parking, etc.  Many units feature extremely high ceilings, unique floor plans and large windows allowing natural light that are also very important selling points for properties of this type.  

Creative upcycling by the modernization of converting old large factories or warehouses into ultra-modern condominium units for sale has taken place recently in the Warehouse District, the French Quarter and The Central Business District.  These are great property investments with massive residual income.  Property prices are much higher for condos with great views of the Mississippi River, local parks, parade routes, etc.

The Warehouse District

Some of the Warehouse District condo units or lofts contain a large industrial interior living space with high ceilings, granite counter tops, wood floors, street views, elevators, faux fireplace electric heaters, drop down ceiling fans and high end stainless steel appliances.  Popular building amenities include a large fitness room, hidden garden court yards with water fountains, off street parking, rooftop dog park, rooftop pool and hot tub.  Walking and cycling are important modes of green transportation which is welcome in this area.  

The French Quarter

Condos in the French Quarter offer different building styles, interiors and amenities than an industrial building.  More of the old-world Mediterranean style of exposed bricks, real wood fireplace, wrought iron balconies, rich wood cabinets, shuttered windows, 9 to 14 ft. ceilings, drop down ceiling fans, upgraded bathrooms, unique floor plans, security systems, etc.

Diverse NOLA Communities

The dynamic diversity of both commercial and residential coexisting in a small neighborhood give the area vibrancy and livability with an eclectic ambiance.  More of a family touring atmosphere during the day and a highly adult partying atmosphere at night.  Smaller streets and sidewalks entice browsers into the variety of items, products and services offered in the side by side stores.  The Vieux Carre’ is the closest you can get to Paris with crossing the ocean.  It provokes an atmosphere of romance, having fun and making lasting memories.   

The CBD of New Orleans

In the Central Business District has many condos or lofts converting existing high rise bank and other commercial buildings into mixed-use buildings.  Using the high traffic street front units for retail or commercial use while taking the quieter, tucked away units for residential retreats.  These units are thoroughly updated throughout, but with added authentic materials such as thick masonry walls, heart of pine columns with exposed timber joists over wide plank floorboards.  Higher units have incredible views of the city and are more expensive.

Unique Homesteads

luxury-condosOne of the more popular conversions was the Blue Plate Fine Foods Factory which was still in operation in the 40’s then moved to Tennessee.  It’s still considered a local condiment and preferred brand by many locals here.  The building is now named Blue Plate Artist Lofts and contains 72 units of 1 to 2 bedrooms with a special preference to artists.  Amenities include a fenced, secure parking lot, elevators, rounded glass block entry, iconic rooftop sign, solar panels, fitness center, rooftop deck, gallery space, dog wash station, music rehearsal room, pet friendly, business center, controlled building access, covered bicycle racks and veterinary house call services.

Another iconic New Orleans factory building transformation is the American Can Company which made cans, containers and packages from tin.  Abandoned after a massive fire leaving just the frame, purchased by someone with the vision to convert the property into a large complex of luxury living condos and lofts. Condos are available in one or two bedroom styles.  

Amenities include stunning landscaped courtyards, covered grill area, picnic area, fitness center, onsite gated parking, intercom access control and elevators.

Both buildings were functioning as different commercial entities and etched into the childhood memories of the older locals.  The history behind the buildings converted is just another added attraction to this new generation of condo dwellers.  Condo living requires less maintenance, more time saving techniques, the latest technology appliances, easy access to life’s necessities, and too many benefits to count.  Conveniently accessible to Downtown, Uptown, the French Quarter, CBD, the Cruise line, fine dining, Saenger Theatre, museums, parks, Audubon zoo, Aquarium of the Americas, iMax 3-D Theatre, multiple street car lines, musicals, contemporary arts, and different galleries.  There’s always something social to do in this area of New Orleans no matter what your preference may be music, food, arts, theatre, sports, shopping, museums or parks.  

 

Modern Renovations Of Old Luxury

Vintage homes in NOLA

Modern Renovations Of Old Luxury In New Orleans

There are constant renovations going on in this area to improve the experience of the ‘Cajun Culture’ of New Orleans for visitors and residents.  It’s amazing how these changes have intertwined the distinct old Southern charm with the magical Mediterranean architecture found in the older buildings.  When visitors have seen the other local attractions, they’re ready to shop at the eccentric and antique shops Uptown.  Shopping malls are common and can be found all over this country, but the small businesses set up around St. Charles Avenue are totally unique to the area.  The New Orleans luxury homes for sale in this area remains in high demand with its Century old mansions, Acadian homes, Greek revival homes, raised frame shotgun homes, camelback type homes, Victorian style homes and beautiful luxury homes.  Ultra-modern amenities have been added to the antique brick, limestone accents, exposed heart pine beams, cypress mill-work, wood floors and 12 ft. ceilings found in most older homes.  Then there’s the new, plush extremely modern condos with a hint of New Orleans flair added that usually have fantastic views of the city, the Mississippi River and its surroundings.  

Historic Luxury in NOLA

The nationally known historic district of Broadmoor houses native daughters and sons like Senator Mary Landrieu and music producer Dave Bartholomew.  Bywater is located where the Mighty Mississippi takes a curve.  There you will view a warm community filled with Creole cottages and raised framed shotgun homes.  Esplanade Ridge is known for its double-galleried houses and charming cottages. The Garden District is elegant with Live Oak tree lined streets dripping with live moss, historic homes and street car access.  Gentilly is centrally located with 19th-century shotgun type houses to 20th-century bungalows and 20th-midcentury ranch style houses.  Algiers Point offers a pedestrian/vehicle ferry along with a panoramic view of the CBD.  This is a true community of Creole cottages and brightly painted double shotgun style houses. Lakeview borders the Jefferson Parish line and is a more suburban community of upper class luxury homes.  After taking a hard hit by Hurricane Katrina this neighborhood has bounced back quickly using top quality interior choices.  Our luxury Lakefront community varies from high rise condo living to subdivision ranch style homes with large back and front yards.  The Faubourg Marigny is a little hidden gem neighborhood filled with the trendiest restaurants, Jazz clubs with big name acts, neighborhood galleries and antique stores.  Georgian, Creole and Greek Revival style housing to form a diversification of architecture on the street.  

New Orleans Neighborhoods

As many individual neighborhoods as cultures in New Orleans each with their own specific characteristics.  The nationally known historic district of Broadmoor houses native daughters and sons like Senator Mary Landrieu and music producer Dave Bartholomew.  Bywater is located where the Mighty Mississippi takes a curve.  There you will view a warm community filled with Creole cottages and raised framed shotgun homes.  Esplanade Ridge is known for mandeville-homeits double-galleried houses and charming cottages. The Garden District is elegant with Live Oak tree lined streets dripping with live moss, historic homes and street car access. Mid-City formed on the backslope of the Mississippi river’s natural levee that has naturally declined as the river receded into a plain.  Residents brag about original architectural features such as gas jets, cypress cabinets and wide-plank wood flooring on their property.  Gentilly is centrally located with 19th-century shotgun type houses to 20th-century bungalows and 20th-midcentury ranch style houses.  Algiers Point offers a pedestrian/vehicle ferry along with a panoramic view of the CBD.  This is a true community of Creole cottages and brightly painted double shotgun style houses. Lakeview borders the Jefferson Parish line and is a more suburban community of upper class luxury homes.  After taking a hard hit by Hurricane Katrina this neighborhood has bounced back quickly using top quality interior choices.  Our Lakefront community varies from high rise condo living to subdivision ranch style homes with large back and front yards.  The Faubourg Marigny is a little hidden gem neighborhood filled with the trendiest restaurants, Jazz clubs with big name acts, neighborhood galleries and antique stores.  Georgian, Creole and Greek Revival style housing to form a diversification of architecture on the street.  Arts and Crafts architecture depicting medieval style is sprinkled in this melting pot of housing styles.  

NOLA Charm

New Orleans, one of the oldest cities in the United States, is rich in culture with distinctive major attractions.  Truman Capote described New Orleans as “the most secretive of all secret cities, the most unlikely, when in reality, it’s what an outsider is permitted to observe.”   Take a ride down the river on the Steamboat Natchez paddle wheeler with the Calliope Concert or on one of the many streetcars in the area.  Close by there are several Live Oak parks, the Audubon Zoo, Aquarium of the Americas, the iMax 3-D theatre, Jazz clubs, fishing, hunting, fairs, festivals, sports events and other popular activities.  Homes facing parks remain in high demand because of the great view. New Orleans is a historically significant city that offers a special lifestyle you just can’t find in the suburbs.  The old-world magnetism of the city is mixed with frequent social community events bringing people together and making it a fun place to live.  

 

Luxury Lifestyles of New Orleans

New Orleans Luxury Homs

 

Luxury Lifestyles in New Orleans

It’s truly amazing at how diversified the luxury lifestyles in different sections of New Orleans reflects the diversity of the city and the surrounding area.  Some examples are how Luxury Living varies in the many unique parts of the city.  If you prefer to buy a home French Quarter, with its eclectic night life, you will never be far away from local events, entertainment, and popular attractions.  Most of which can be accessed by walking, biking or taking one of a few different modes of public transportation available.  Convenient to all life’s necessities along with impulse shopping.  Most of the historic architecture includes high ceilings, ceiling fans, double sided fireplaces with unique exposed brick.  Additional features common to this neighborhood are a narrow balcony or hidden garden courtyard possibly with a beautiful fountain.  Many of the buildings have historic masonry and the streets in this area are mostly cobblestone.  Out of town visitors love the pied-a-terre in lieu of staying at one of the many hotels.  Residents experience the walking distance of both Bourbon and Canal Streets.  These mostly densely packed streets offer a diverse shopping journey of unique local items, products and services.  

Elite Homes in New Orleans

french quarterNow if you prefer the ambiance of the elite, then all along historic St. Charles Avenue you can expect to discover street cars filled with riders.  Most of the famous Garden District homes are surrounded by decorative wrought iron fencing and have large private wrought iron railed balconies.  These are great for viewing the many parades that roll down St. Charles Avenue all throughout the year.   It’s common for residents to walk to close by quirky boutiques to purchase one of a kind items.  Many of the small antique shops also carry unique items found nowhere else in the world.  Various ivy covered centuries old landmarks are among the historical mansions.  The Avenue is lined with a natural canopy of Majestic Live Oak trees.  A short proximity to both our local colleges, Loyola and Tulane Universities.

Prestigious Homes in Mid-City New Orleans

Does living on Canal Blvd. in Mid-City New Orleans excite you more than living by the lake?  Rich culture architecture in a more spread out community in lieu of the crowded streets in the French Quarter!  You’ll still be close to shopping, public transportation, local events, cemeteries, downtown and City Park.  Large raised home neighborhood with more of a Southern community vibe where you can find multiple restaurants, retail or churches.  

Waterfront Luxury Living

If living close to the water is more attractive than living in the French Quarter then then you may consider buying a  waterfront luxury homes are for you!  Living close to Lake Pontchartrain makes it easy to attend some or all the multiple annual water events.  This high demand part of the city contains home styles that vary from the cute cottage to eastern Mediterranean style homes both of which are near parks and golf courses.  Take the scenic route along Lakeshore Drive or use the long bike path.  If the lake breeze is kicking up then grab your kite and see how far you can fly that kite!  The Lakefront Airport is outfitted with a rentable private event hall, art décor by local artists, related murals along with a variety of stone walls and cobblestone floors.  Convenient to students, teachers, and workers to UNO. Enjoy the multiple events at the Lakefront Arena. The New Orleans Lakefront was named by Orleans Levee Board in early 1900s particularly for Lakeshore Drive and Lake Vista neighborhoods.  Currently many other neighborhoods have developed along the south shores of Lake Pontchartrain.  Imagine being able to wake to the soothing sound of tranquil water, seagulls and pelicans.  Family friendly bike or jogging/walking path.

Northshore Luxury Living

golf course luxuryJust imagine a spring or fall lake breeze blowing through your screened windows in a luxury antebellum home!  It’s located on the north shore with a sportsman’s dream of easy access to both Lake Pontchartrain and Lake Maurepas.  There are dozens of various retail shops offering local items, products and services.  Pick from the various restaurants in the area and select your home from a new or existing subdivision.  Whether you need small or large housing space you will find a large assortment of both even gated communities are available.  Family friendly bike or jogging/walking path.  Special local events such as music concerts, festivals, fairs, etc. all year long. A dedicated bird sanctuary attracts local and escaped exotic birds.  Enjoy spacious landscaped surroundings that feature massive Live Oak trees.

Living on the Green in NOLA

Country Club living is popular if it’s done in a natural setting with convenient locations to shopping, fine dining, sports activities and fitness facilities.  There are numerous luxury homes for sale on golf courses in Greater New Orleans.  All those amenities and more are offered at a Golf Course House in Beau Chene.  A premier residential gated community of Acadian style homes.  Experienced pro staff provide access to a golf course with 36 holes and is governed by community elected 11-member board of directors.  Large houses with ample lots located between Lake Pontchartrain and the Tchefuncte River.  This self-managed community operates its own private water and sewerage treatment facility.

Old Covington

An expansive estate in Covington would have a house hidden from the main road.  Southern charm with a large living space in a wooden acreage for privacy.  Easy lake access for all your water sport activities.  Multiple historic homes and buildings accented with ancient large Live Oak trees.