Louisiana residents like yourself may need a little help when it comes to dealing with real estate law, which can be complex and full of terms that don't come up in any other situation. We at Lundy, Lundy, Soileau & South, LLP., work to bring clarity to the situation, defining potentially complex terms and providing insight where needed.
There are many reasons you could want to make a major purchase about the same time you buy a home. Perhaps most obvious, you see a piece of art or furniture that would look perfect in the home you want. In other cases, you may have also been saving for a new car, or decide to get a car if your home purchase expense is lower than you expected.
A home is supposed to be a person's castle, but for many in Louisiana living in homeowners' associations or other managed properties or communities, home is a place regulated by a long list of regulations. Adding a new fence or a unique mailbox could put a homeowner at risk of ending up on the wrong end of a dispute with the association.
A bill in the Louisiana senate is trying to ban affordable housing mandates in real estate developments. According to The Times-Picayune, rising rents in new Orleans lead to a city ordinance for “inclusionary zoning” that would require 12 percent of condos or apartments to sell or rent for lower than market rate. This bill, which was approved by the Senate, will prevent that city ordinance from taking effect for fear that it will halt development.
For those looking to buy a home in St. Charles, one of the main advantages of ownership that they likely hope to enjoy is the freedom to do what they want with their property. While most may understand that zoning laws and city ordinances mean that home modifications must be within reason, many new homebuyers still likely believe they have full control over landscaping as well as interior and exterior design decisions. However, that may not be true in some cases.
Your home may be the biggest investment you ever make. If you are looking for your dream home, you could stay there forever and end up paying principal and interest for up to 30 years. When you apply for a loan, your credit score can directly affect your ability to borrow the money you need, and it may increase the interest rate you pay each month, increasing the actual price of your house by hundreds of thousands of dollars.
After an extensive search, you may have found the perfect home only to discover a bidding war is going to make the purchase difficult, if not impossible. A seasoned real estate expert can help level the playing field for you, and an attorney experienced with real estate matters can assist with any legal issues that arise. You can help yourself, however, by being prepared to do battle with competing house hunters and come out the victor.
If you plan on purchasing a home in Louisiana to renovate it, you should plan your steps carefully to minimize stress and possible complications. Although certain home improvements can boost your property's appeal and function considerably, the wrong ones can leave you full of regret and create potential legal issues. Before you start any home improvement project, take some time to learn about common renovation mistakes you should avoid.
Buying property can be extremely exciting and daunting at the same time. Whether you are purchasing your first home or moving to another home, it is important to know what to look for when determining if the house is a right fit for you. At Lundy, Lundy, Soileau, South LLP, we know that making the right choices during this time can be difficult. By understanding key information during your property search, you may avoid a potentially hazardous situation.
If you are interested in buying a home in Louisiana, you know there are many considerations to be made. This is especially true of the closing process, which can be rife with difficulties if the buyer is not adequately prepared.