When Your Rental Needs Don’t Match the Market

    Individuality in real estate

    We work with a lot of people for a place to rent in New Orleans. Some of them are new to the city and want to scope out the neighborhoods before buying. Some haven’t quite saved enough money to make a purchase yet. Some are even discouraged by high property values and are willing to wait and see what happens to the market before they commit to a 30 year mortgage.

    Then there are the people that make it hard on themselves.

    I have 3 big dogs

    It’s hard to be a tenant with multiple or large animals. As pet friendly as the city is, landlords aren’t as keen on letting Fluffy, Fido and Roux live in their place when it means possibly putting their insurance coverage at risk for your dog. If you find a landlord willing to take your pet, be prepared to cough up an extra (and possibly non-refundable) pet deposit.

    I want something new with off-street parking, big bedrooms and a large backyard

    We hate to break it to you, but there are very few new properties in New Orleans to buy, much less to rent. You’re more than likely going to be choosing between either half of a double or a unit in a multi-plex unless you want to live in the ‘burbs, so the odds of them having everything on your wish list are slim.

    Remember, a rental is temporary. You may not find that place with a gas stove, balcony, wood floors, 12 foot ceilings, off street parking, fenced yard just 2 feet from the parade route.

    I want to rent Uptown for under $800 per month

    Let’s get real about rental rates in the hottest New Orleans neighborhoods. The prices aren’t doing anything but going up, up and up some more. If your budget is below the norm for an area, you’ll just have to bite the bullet and come to grips with the fact that you may need to consider locations outside of the sliver by the river.

     

    If you have these kinds of special needs, it may be time to get pre-qualified for a mortgage instead of renting every month. The amount you’ll spend on your security deposit is enough to cover the inspections and appraisal on a place you can call your own, instead of paying your landlord’s mortgage every month.

    **** Learn about 100% mortgage financing options ****

     

    We know that finding the right place to call home can be stressful. Call us today at 504-327-5303 and let us guide you through without making you want to pull your hair out. 

     

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    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Greater New Orleans area.