Finanacing New Orleans condo’s as a 2nd Home! Rates are very good!
December 14th, 2008 categories: Julie's Mortgage Tips
Rents in the New Orleans Uptown and Warehouse District are approximately $1200-$1800 monthly. Instead of paying rent for the next four years college students parents can buy a condo as a 2nd home and reap the benefits. Some parents will be able to use the interest paid on a 2nd home to lower their tax obligation.
Buying in todays market while values are down should equal appreciation 3-4 years form now. Rates are a an all time low and its nice to be able to take advantage of it. 2nd home rates are as low as your primary residence rates. For more information please give me a call. Julie Baudier 504-583-1793
Julie is correct about the second home market and the deductions and enjoyment that can be had with a second home. I sell several condos a year where people will have a condo as second home and also make it a home for their kids while in school. Having the second homes have had a positive effect giving the market more buyers than other markets.
