Understanding all of the steps is a great way to beginFrom finding the right agent to getting your keys, learn the basics of how to buy a home.Step 1: Determine your budgetEven before you start
Article released today mapped average rents across the US and showed where rents increased most. Interesting tidbit in "2017 monthly average rents increased the most in New Orleans, LA, which went up an average of 4% each month. Reno, NV, is the only other city with average one-bedroom rent fluctuations above 3%, at 3.2%. Unsurprisingly, two California cities also earned spots on our list of highest average monthly changes: Santa Ana (1.6%), and Sacramento (1.5%)." Mapped below is the average rent by state and considering home prices, the rise in rents exceed the annual rise in home prices in Louisiana which will only fuel the demand as investors (especially those out of state) allocate their investments to achieve a greater return. Home prices will continue to rise as long as the rents exceed the monthly cost of investment and Louisiana offers a greater return on investment considering the average home price to rent ratio. There are ways to capitalize on real estate market in New Orleans and time is of the essence. Link to full article below.