French Quarter Condos
Balconies are always in demand in the French Quarter Condo Market. Other areas will have balconies and porches but the French Quarter Real Estate is where the high demand is. Balconies are not included in the square footage. In most cases balconies and porches are considered limited common areas. Meaning the condo association takes care of them, but the use is limited to the owner of the condos that have balconies.
Putting a price on a balcony is difficult. It’s hard to put a number on it. Often times I ask a client how much they would pay for one, $10,000, $20,0 oo $30,000 or more. Generally it is worth at least 10 per cent of the value of the condo. This is my number. Then it depends on the views of the balcony and if it is a street balcony. A balcony overlooking a courtyard is not worth nearly what a balcony overlooking a street is worth.
Often time a gallery and balcony are viewed as the same thing. A gallery is supported by columns or poles from the street thus making it often much wider than a straight balcony. This width makes it more valuable. Having a double gallery where you have a roof over your gallery is even better. Its keep the rain and sun out of the space. It is just a more usable space.
This is a balcony above a business. Living quarters were most likely on the second floor of the building. You were always close to work and family.
This is a gallery on the corner of Royal Street. Love the windows and the hanging ferns. Few places in the world decorate their balconies with plants like the French Quarter in New Orleans.
This is a great example of a double gallery. Check out the wrought iron which is a common way to decorate the balcony.
This is an example of a double gallery with a porch. They too really add to the value of a condo as it just gives you more quality space and room to relax. This is a historic home converted into a condo. You will find this in the Lower Garden District, Garden District and in the Uptown New Orleans Condo market. I call these neighborhood condos.
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