| When people think about Louisiana today, they may | | | | priorities. You might decide whether you want to buy in |
| remember the devastating destruction of New Orleans | | | | a quiet, rural area or whether you would prefer |
| and surrounding areas during Hurricane Katrina in 2005. | | | | property in the hustle and bustle of one of the state's |
| And yet surprisingly, many parts of Louisiana are doing | | | | major cities like Baton Rouge or New Orleans. |
| quite well these days, weathering the financial storms | | | | Just be aware that city real estate is typically more |
| of the current recession much better than most of the | | | | valuable and expensive than property outside of city |
| country. | | | | limits. You should let your real estate agent know if it is |
| Unemployment rates have stayed low compared with | | | | important to buy within the boundaries of certain |
| the nation and the oil and gas industries continue to | | | | school districts or nearby one of Louisiana's many |
| thrive in the Gulf Coast state. Other companies | | | | colleges or universities. And of course, if you are |
| continue to move into Louisiana and invest their | | | | looking for a rental property it will be helpful to |
| resources in the state's growing business sector. | | | | determine whether you are interested in single family |
| Because of all these factors, real estate there | | | | homes, duplexes, several units, or large apartment or |
| continues to be a great investment both for primary | | | | condo buildings. |
| residences and rental properties. | | | | Your real estate agent can probably steer you in the |
| Louisiana offer real estate buyers many unique | | | | right direction when it comes to finding the right |
| features. For one, it is the only state in the union with a | | | | mortgage loan for your purchase. You will need to |
| heavy French influence. New Orleans is the best | | | | decide between a fixed rate home loan and an |
| example of this with its French Quarter neighborhood | | | | adjustable rate mortgage. The former is the safest |
| with its distinctly French-style buildings. The New | | | | option, but the latter can offer lower initial rates. |
| Orleans culture is steeped in Jazz tradition and Cajun | | | | You will also need to figure out how much of a down |
| spices and gumbos. | | | | payment you are willing to for over as well as how |
| Then of course, you have the state capitol of Baton | | | | long you want the loan to last. It could be anywhere |
| Rouge. This city still has the French influence without | | | | from five to forty years. And if you are looking for the |
| the Mardi Gras and other chaos. It is the home of | | | | best mortgage interest rate you could consider paying |
| Louisiana State University, making it the major hub for | | | | a few points (one percent of the purchase value) in |
| college football in the state. It currently has a population | | | | order to buy down the rate and save money in the |
| between 300,000 and 400,000 and is doing very well | | | | long run. |
| financially with a median home price that continues to | | | | Buying real estate in Louisiana is still a good idea. The |
| rise in the mist of free-falling national prices. | | | | state has many great schools, sports teams, and nice, |
| If you are considering buying real estate in Louisiana, | | | | family-friendly neighborhoods. The properties there hold |
| you would do well to sit down with a real estate agent | | | | their value well and offer great amenities for potential |
| and discuss all your concerns and make a list of your | | | | homebuyers. |