Buying a first home

If you're under 30, unmarried or even married w/o kids - don't. Invest.

bubble is still expanding. you will get royally robbed if you buy now. If you have a tolerance for hood-tastic goings on, and are handy with power tools and such, you could possible still score a nice little investment double in certain areas, but you have to be very careful. Each block differs drastically and is a game changer unto itself when selling a home.


G'luck. I'd wait it out though..

Buy what you need in a good neighborhood.

You don't need the most expensive home in any neighborhood.

Buying a house is not always the no brainer investment that some people will tell you it is. Some people win the lottery of moving at a time of high prices in a high cost area to a low cost area. You may or may not make money when you move.

Similar boat - debating about the Nola bubble. Tempted to pay decent money somewhere around canal between about broad to Carrollton and hope for the best on this hospital project. Even though it'll be too much coin today.

Inspectors make a hell of a difference. Get a good one

Basic stuff, but don't buy the biggest/most expensive house in the neighborhood. I also recommend buying a house that is 5-10 years old vs buying new (if considering newer neighborhoods). First house I bought new, and had to drop a lot of money on blinds, landscaping, etc. second house I bought was about 8 years old (new enough to not have outdated countertops, fixtures, etc, and it already had mature landscaping, a sprinkler system, and nice blinds/window treatments).

I bought a new home as my first house. The extras like blinds, window treatments, gutters, landscaping, etc. add up big time.

There's a saying in real estate...

"You want the worst house in the best neighborhood"

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Afraid to buy high then have the bubble burst, but have also heard new hospital will continue to drive prices up. Looking in lakeview.

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As I'm sure you know, Lakeview is really high right now.

I bought a double near Tulane campus just over a year ago and I love it. You want to do your homework on insurance (homeowners/flood). Flood varies a great deal, if you're in the wrong area you could get crushed. Those items can really affect the "investment" aspect of homeownership.

I think there are still some deals in mid-city, but you have to be more careful about crime. Of course, I thought I was in a good area, but there have been a number of violent crimes in my area in the past few months. You never really know in NOLA.

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I think it's actually "you want a bottom third house in a top third neighborhood" I think I heard it that way.

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Not specifically agreeing or disagreeing with you but it certainly isn't the worst house in the neighborhood.

I've done the nicest house in a neighborhood trick, I knew it going in and there were mitigating factors. But it was not good at the end. I know folks who have done the worst house in a neighborhood trick, in a slow market it is doubly bad and can hurt the rental possibilities. Admittedly, in a medium or brisk market it can be OK.