Buying a second house in Louisiana: what to know

Are you thinking about buying another house in Louisiana? Whether you’re coming from LA or you already live there, you have to get to know the matter before doing it. And you want to find the best moving company, these are the two most important things. Is it because your family got bigger? Or do you want to have a getaway? Maybe you want to give it as a present to your newlyweds? Doesn’t matter. If it’s your second buying, you’re probably at least a little familiar with the process. If not, we’re there for you. Listen up. Here it is. Buying a second house in Louisiana: what to know. Vol I.

Think twice

Though buying a house, especially a second one may sound exciting, it can be a big impact on your budget. Have in mind that a lot of things will have an impact on what house you’ll buy, starting from the local economy, to your financial status and all the way to the housing market in Louisiana. So the more you know about buying a house and the real estate market at the moment, the easier it will be for you to find what you’re looking for.

Find the right movers

Have you found the right house? It doesn’t matter if you haven’t yet – it’s time to think about moving. You have to plan and organize everything regarding moving, transporting, lifting. Uh, sounds exhausting already. But don’t worry, cause you can easily find assistance and avoid additional stress! Just make sure to contact them the minute you get to know the date of your moving day.

Buying a second house in Louisiana: what to know

First things first, you must take various things into consideration: location, size, market situation, your status, etc. Think about whether that house will be a dream house or a bottomless pit? In order to help you out, we tried to break it down for you. So let’s begin.

Check your financial situation

Firstly, you’ll want to make sure that you’re financially able to buy another house. There are a lot of financial factors that you’ll need to have sorted out before even thinking about buying. Here are some of them:

• your credit score needs to be at least 620 for most conventional loans
• down payment
• closing costs (you usually have to pay 2-5% of the home value in closing costs)
• homeownership cost

The best way to handle all of this is to talk to a licensed lender and ask everything you need to know.

Find a real estate agent in Louisiana

This will be your new best friend during the process of buying a second house in Louisiana. An agent will not only help you with choosing the right house but will also do all of the paperwork and make sure you get the best closing deal.

Choose the right neighborhood

Pay attention to where it is compared to places you go to the most (job, shop, school, park). If you can, go for a test drive, because the location will influence your daily routine. And you don’t want to be late for anything. Also, ask around about neighbors and crime rates. You don’t want any disputes on your moving-in day for being too loud or something like that.

Get preapproved

In Louisiana, most sellers won’t even show you the property unless you have a preapproval letter. And that’s fair since they don’t want to lose time with someone who doesn’t have enough means to buy it. So getting preapproved for a mortgage ensures the seller that you’ll have enough money once you close the deal on the house.

Look through the market

This applies not only when you’re buying a second house in Louisiana, but anywhere. Though it may be the most exciting part of the whole process, You want to make sure that you find the perfect home for your needs. That’s why it’s important to write a list of priorities and to understand your current housing inventory.

Make an offer

Once you find the house that you like, you’ll want to make an offer. And you want to be quick. That’s because houses in Louisiana usually stay on the market for 78 days. But keep in mind that this may vary during different seasons and months. However, if you’re not sure what to do, the best thing is to consult your agent on what to do.

Close the deal

When it finally comes to the end, or say, to closing the deal, you’ll once again have a chance to see the house and to make sure that everything is fine and in the same condition, as it was when you were making an offer. Don’t get too excited (it sounds hard, we know) because you may overlook something. Make sure to check everything – from the ceiling to the floor. And save some of that enthusiasm for closing day, since you’ll have a ton of paperwork to sign.

Get ready to pack

When it comes to moving and packing, there are always a lot of things that need to go. Or that you don’t need at the exact moment of your moving in day. On-site storage is a very practical solution for you and those extra stuff. You just contact the professionals that are familiar with this part of the process, and they will bring you storage containers in which you can pack everything you don’t need. Easy peasy.

Don’t pressure yourself into buying if you’re not sure

The hidden costs of buying a second house aren’t always apparent right away. That’s why you have to think not only about your needs now, but also about your needs in the future. Wait a little longer. Maybe the market situation changes. But if you’re sticking to your idea, we hope that we helped you with this little buying a second house in Louisiana guide. Your only worry now is what food to bring with you on your moving day. Enjoy!