Being a homeowner is amazing. It gives you a sense of security and satisfaction without having to depend on the rent or landlords. Still, maintaining a household is not easy, and owning a second property is double as hard. But with great responsibility and hard work comes a reward in returned profit, especially if you plan to buy a second house in Louisiana. As a “melting pot” of cultures, The Creole State offers you great art galleries, cuisine, amazing architecture, affordable housing, and beautiful places to own a home.
Louisiana is a great country to live in
The Bayou State has a rich historical background and diverse culture. That shows a lot, especially when it comes to musical heritage. Different blends of jazz, blues, rock ‘n’ roll, Cajun and Zydeco, made Louisiana, and especially New Orleans a music Mecca of the US. Having that in mind, some of the biggest and most famous festivals like Mardi Grass, Shreveport’s Red River Revel, and New Orleans Jazz & Heritage Festival are held here.
It’s a country with a great warm climate, rich architecture, and many outdoor possibilities, especially when it comes to water sports and fishing. But as we know, one of the most important benefits when it comes to choosing a new place to live is the local community.
Still, that’s not all this state can offer. With a wide range of top-rated universities and schooling options, young people have great educational opportunities. And all that with very affordable living costs. No matter if you are young or old, a student or a retiree; life in Louisiana is a great option for everyone.
Investment in a second house is a very good idea, especially in a place where tourism thrives
If you have extra money to invest at the moment, it’s always a good idea to invest in property. And a second house is one way to do it. In a way, think of it as retirement home investing. It doesn’t matter the retirement might be years away because in the meanwhile you can use the house as a vacation home or even rent it. Still, if you plan to rent your new property, make sure to get some information about proper maintenance and all that comes with it.
If it’s going to be your retirement home, you might want to choose some quiet little town as your location. But when it comes to renting it, rent prices same as median home prices are higher in city populated areas. Especially when it comes to buying a house in New Orleans, Lafayette, Baton Rouge, Shreveport, Lake Charles, and any other city that attracts many visitors.
Renting a house is a great way to earn money whether it comes to permanent or temporary renting. We have consulted professional local services about it and according to zippyshelllouisiana.com, when looking for long-term benefits while renting your home, you might want to consider initially giving some more money to gain a bigger passive income in the future.
One of the reasons to buy a second house in Louisiana is tax benefits
If you are buying a second house, you will be able to gain some tax benefits on the interest payment after acquiring a home loan. Unlike the mortgage interest rules, with buying a second house, you will be able to deduct property taxes and rental expenses on any new real estate you acquire. It’s good to know that you can deduct up to $10,000 of property taxes per year on federal income taxes.
Louisiana housing market can offer some amazing options
Like any other state, Louisiana offers a variety of homes in the real estate market. Whether it comes to architectural styles or median home prices, they vary based on different factors and locations. Some bigger cities like Pineville, Alexandria, Central, and Leesville have higher home prices, unlike other smaller cities. According to the median listing price in the state is $161,800, which is well below the national average. Still housing market is in constant growth, especially in the past five years.
With some great local real estate, moving and portable storage services in The Pelican State, you can forget about the stress of relocation. There are some amazing convenient solutions for extra items to have your new house furniture delivered at your address or if necessary short or long-term stored.
New Orleans
New Orleans is a great option if you plan to buy a second house in Louisiana. It offers a variety of great neighborhoods, and the house median value/rent may vary in different parts of the city. Renting a house in the Marlyville-Fontainebleau neighborhood may earn you a nice amount of monthly profit, considering median rent is higher than $1,154, which is above the state average.
Possibilities of earning while renting are not the only thing The Big Easy can offer. With amazing cultural amenities, architecture, cuisine, and educational opportunities, you might want to rent the first home instead and move to your second. And when it comes to moving, you’d want to have the best service possible. The best way to do it is to go with local movers. That way you will pay less, plus you will have partners who know the area to help you. That way, expert teams are at your disposal anywhere in New Orleans.
Make sure to make a thorough market research
When looking to buy a second house in Louisiana, you will want to decide not only on location but also the purpose of your new home. And after you’ve done it, you’ll need to do extensive market research. That way, you will be getting the most of your new investment. You should start with
- researching online property offers,
- informing about the location and its benefits,
- consulting local experts,
- comparing the selling prices of the area,
- doing a virtual home tour of houses you’re considering buying,
- narrowing down the choices and checking out the houses in person
You need to be sure your future investment is a smart choice. That way, you won’t have to deal with extra expenses or possible scams. When it comes to Louisiana, the housing market is not competitive. Still, in the past few years, it experiences constant growth. Therefore, if you were to invest in real estate, the time is now.