Is the Lakeview neighborhood of New Orleans on your list of places to live? We will list out the pros and cons of the area, what to look out for, and recent sales trends for you to make the best decision. Here are our home buying tips for Lakeview:
Location, Location, Location
Where you buy in Lakeview is super important. Buying a house on busier streets like West End, Harrison, Filmore, and Canal can make it challenging when you go to resell your home later.
This doesn’t mean you should avoid those streets at all costs; it’s food for thought when making an offer on the house, though. Buying a home on a busier street can usually get you a lower sales price today. But, the deal you got on a busy street – the next homebuyer is going to want that as well.
Lakeview Flood Zones
One of our biggest home buying tips in Lakeview is to be mindful of flood zones. It seems like half the area is in an X flood zone, while the other half is not. More importantly, find out how much the sellers are paying for flood insurance.
Flood insurance prices are not coming down. If the house you love sits very low and has over $3k/year in insurance prices, I would think long and hard before making an offer. Eventually, the prices will start to creep up, and selling your house later will prove to be a challenge.
The Competition
When you go to sell your Lakeview home – be mindful that the housing inventory here is all over the place. You will find houses that are 50-60 years old that were gutted post-Hurricane Katrina. Then you will see there are homes built right after 2005 along with brand new construction in the area. Many times home sellers have t be patient and wait for the right buyer to come along.
What’s Awesome about Lakeview
- You will find a biking/jogging trail down West End or pop over to the lakefront to catch a breeze while enjoying the outdoors.
- Harrison Ave has great places to eat, and you can find little shops and even a spa tucked around Lakeview.
- You will find tree-lined streets and kids riding bikes around the neighborhood.
- They have a very active civic association!
- Residents love living here for the friendly neighbors, proximity to Lake Pontchartrain, a nearby school, restaurants and shops, and easy access to downtown and Metairie.
Cons of living in Lakeview
- Like a lot of New Orleans, the roads can be very uneven and filled with potholes. Be mindful when driving around here for the first time.
- Many Lakeview residents have large flood insurance bills since some homes sit so much lower than others.
- Drivers speed excessively down West End.
- There is not a lot of cultural diversity in the Lakeview area.
Lakeview by the Numbers
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