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I'm guessing you're not including Old Metaire because that area definately has the highest resale value?
Yeah, definitely Old Metairie has the highest priced houses and resale. Didn't mean to infer they didn't.
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I'm guessing you're not including Old Metaire because that area definately has the highest resale value?
wow, ineta thanks for the info. I know that lakeview has some of the best schools in the area (start with Hynes go on to Ben Franklin). We don't have any kids, and I don't expect we will til I am done with school so we still have 2 years or so.
How much renovation can you get done in the $30-$70 price range. I am looking to buy the house and get renovations for under $120. A few of the houses we are looking at are on west end, canal (by the lake), and robert e. lee, and milne. are those pretty sound areas?
With renovation jobs slowing down from where they were 2 years ago how long would a full renovation take? We can bunker down with my parents in metairie for 2-6 months but what does the time table look like (we will be working on the house on weekends).
I'm guessing you're not including Old Metaire because that area definately has the highest resale value?
resale yes, but value not as much as mid city. the thing that hurts Lakeview is the fact that there are so many homes below the flood plain that it will take a considerable amount of time and money before it is properly developed. If you are looking to spend 30 years in a home, Lakeview could be a great choice, but if you plan on selling in 3 years or so, you may find the profit margins not as generous as if you would have bought in Mid City. Old Metairie is a great location and your home will retain its value, no doubt, but the initial cash outlay is going to be greater and the increase in value per dollar spent on the home will not be as great as f you found a gem Uptown or Mid City. If you're not going to buy in Mid City, the Irish Channel should be a place you examine closely. You could get into a rehab project for about 100-150k and spend another 50-75k to get it in really nice shape and see that same home appraise close to 300k.
I hope this helps...
hmm. 6mo for gutted to rebuilt? funny, it took 3mo from contract signed to start my house, and the time i closed and moved into it.
How big is your house and how much water did it take. We are talking gutted completely. No ceiling, no walls, etc.
I was talking NEW build no walls no foundation nothing but dirt lot. and 2438 sq ft. 134K in oct of 98.
Okay. A new build can be quicker than a rehab. If you have an older house and you are replacing HVAC/rerunning all electrical and plumbing through already existing walls, trying not to further damage your second floor, discovering additional issues when you open a wall upstairs to accommodate running plumbing. That type of thing makes rehab, especially on a large home, longer.