LUXURY CONDOMINIUM OFF MAGAZINE STREET
1,072 SQUARE FEET, 2 BEDROOMS, 2 BATHROOMS
1,072 SQUARE FEET, 2 BEDROOMS, 2 BATHROOMS
MAGAZINE STREET & THE IRISH CHANNEL
"The Magazine Gallery District houses some of New Orleans’ most established and also notable new galleries. A historic neighborhood on the river, the Irish Channel District encompasses part of the vibrant Magazine Street shopping district. This portion of Magazine features antique shops, bars, restaurants, and local fashion stores, catering to young and diverse residents. Historic shotguns and Creole cottages are the prevalent architectural features." - The City of New Orleans, Cultural Products Districts.
Image courtesy of http://reestablishingthefoodconnection.blogspot.com/2014/04/spring-break-in-new-orleans-manhattan.html
THE PERKS OF BUYING A CONDO
"If you’re thinking about buying a new home, a condo can be a smart choice. Often, they are cheaper than single-family homes, and they may offer conveniences that you couldn’t otherwise afford. Here’s a rundown on some of the top reasons to buy a condo.
Read more: Condo-Buying Walkthrough: Reasons To Buy A Condo https://www.investopedia.com/university/condo-buyers-guide/condo-buyers-guide3.asp#ixzz5OGzkTfzf
- Amenities: Exterior maintenance and security. Condominium developments often provide access to certain amenities that wouldn’t be practical or affordable for an individual house owner.
- Community: Only 11 units in the entire complex.
- Desirable Location: 1002 Jackson Avenue #B is on the intersection of three of Uptown New Orleans's most exciting neighborhoods: Irish Channel, Garden District and Lower Garden District. It is five blocks from the St. Charles Mardi Gras Parade route and on the route of the Irish Channel St. Patrick's Day Parade. While a single-family home might be out of reach in this luxurious location, this condo can be a viable alternative that provides you with the lifestyle you enjoy at a fraction of the cost.
- Equity and Tax Advantages: If you’re deciding between renting a property and purchasing a condo, note that ownership presents two financial advantages over renting: the opportunity to build equity and the ability to take advantage of tax deductions for mortgage interest and property taxes. If your monthly mortgage payment would be about the same as rent, it may be financially advantageous to buy instead of rent. Check out Trulia’s Rent vs. Buy Calculator to compare renting and buying in your market. (For more, see Top Tax Advantages of Buying a Home.)
- Investment : Some buyers will be interested in purchasing a condo as an investment in hope that the price of the unit will appreciate over time and/or to use the home as a source of rental income. Since condos tend to appreciate more slowly than single-family homes, many people who are interested in the unit as an investment will choose to capitalize on its rental potential rather than wait for the unit to go up in value.
- Maintenance: Your monthly condo fee covers all expenses related to the repair and maintenance of central services, parts of the building (aside from the individual units), grounds and community facilities. One of the biggest perks of owning a condo is that the individual owners are not directly responsible for maintenance on the building, common areas or grounds. For many people, this is desirable because it frees up time for other pursuits. For others, it is a well-earned break following many years of home maintenance.
- Price: Depending on your market, price may be a deciding factor in choosing a condo over other types of real estate, such as a single-family home. In certain areas, single-family homes may be predominantly larger and more expensive, while condos are smaller (either in terms of square feet and/or the number of bedrooms) and more affordable. Of course, this doesn’t hold true in all markets, and you should also factor in HOA fees when comparing costs.
- Flexibility: A condo offers a great deal of flexibility – it requires less maintenance than other types of homes and it’s easier to leave vacant while you travel. Condos can also provide more flexibility in terms of finding renters while you’re away. In New York City, for example, co-ops generally strictly limit or forbid subletting, which means if you’re on a six-month sabbatical, you may not be able to recover any of your housing costs during that time. Condos are typically much more flexible about this, which makes them attractive to snowbirds and other frequent travelers who might want to rent out their homes while they’re away."
Read more: Condo-Buying Walkthrough: Reasons To Buy A Condo https://www.investopedia.com/university/condo-buyers-guide/condo-buyers-guide3.asp#ixzz5OGzkTfzf
