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re: Baton Rouge Home Prices
Posted on 2/2/23 at 1:19 pm to Buryl
Posted on 2/2/23 at 1:19 pm to Buryl
Overheard my parents talking about putting up our home in BR for sale. With home prices shooting up, ideal time to sell it. It's a rental property and mortgage is almost paid off. I'm on the fence about selling it because it's the home I grew up in. I was hoping they would let me move in there someday. 
0
Posted on 2/2/23 at 1:24 pm to lsufball19
quote:
quote:
I've been in a long-term below-market rental for the past ten years
That's a poor investment. Why would you want to pay rent on a home for 10 years and not receive any equity in return?
Below-market rental, like way below. Even in retrospect it made sense financially. As long as I don't screw up now.
Posted on 2/2/23 at 1:26 pm to upgrayedd
quote:that's not a cheap house to build. I would be surprised if you could build that house, put in a pool, landscaping etc for any less than that.
This house is being listed for $930k in Lexington
Posted on 2/2/23 at 1:30 pm to purpgoldblood
quote:
Actually lumber and many materials are on the way down
Lumber has already fallen quite a bit
Turns out raising rates does slow the economy and giving people stimulus checks and historically low rates do promote spending
We are building and I have dragged my feet to start in hopes on materials cost dropping and many materials have dropped significantly
It’s still stupid expensive to build but brand new custom home are typically kind of pricey
That's good to hear. I noticed lumber prices were way down. Did you hire a builder? Mind sharing what you are paying sq/ft?
If I built it, I'd be my own builder, and do a lot of the simple stuff myself. Finding reasonable land is the issue for me, not the home itself.
Posted on 2/2/23 at 1:32 pm to Buryl
What price range are you looking for? Could maybe do an older neighborhood like Kenilworth
Whats the current rent out of curiosity?
Whats the current rent out of curiosity?
Posted on 2/2/23 at 1:32 pm to TIGERHOLD
quote:
Here's a little secret: take a look at West Baton Rouge parish.
only makes sense if you work in WBR
Posted on 2/2/23 at 1:34 pm to Buryl
quote:
Thinking about just saying screw it and building my own house.
Cutting corners, $205 to $215/square foot.
Posted on 2/2/23 at 1:34 pm to Buryl
quote:
Even in retrospect it made sense financially.
If you had paid 10 years worth of mortgage payments and with the real estate market, do you treally think you had a higher return simply by saving money on your monthly rent payments? Even if rent was way below market, I find that hard to believe
Posted on 2/2/23 at 1:36 pm to Buryl
quote:
I'm guessing Baton Rouge hasn't seen this large of a swing in home prices ever.
After Katrina things went crazy overnight.
Posted on 2/2/23 at 1:38 pm to Buryl
quote:
everyone is now competing for the same homes in the $175k-$250k range.
Yeah, it seems like anything under $500k flies off the market, then once you pass that threshold, a lot of them sit for ages. Not a lot of people in BR casually looking to spend $700k-$1MM, but there are a whole lot of houses in that range on the market.
Posted on 2/2/23 at 1:45 pm to TIGERHOLD
quote:
Here's a little secret: take a look at West Baton Rouge parish. For some reason people are sleeping on it big time. Nice houses, cheap prices, and still closer to BR than the hell known as Ascension Parish tract housing.
An added benefit to WBR is that you get to enjoy a bridge's eye view of the Mississippi river twice a day. Luckily, the traffic pace will allow for a nice leisurely time to enjoy the scene.
Posted on 2/2/23 at 1:51 pm to TIGERHOLD
quote:
Here's a little secret: take a look at West Baton Rouge parish. For some reason people are sleeping on it big time. Nice houses, cheap prices, and still closer to BR than the hell known as Ascension Parish tract housing.
This is the most retarded post I’ve seen on here in a while. And that’s saying a lot.
It’s not fricking secret why shite is cheaper over there. You couldn’t give me a house to move across the river.
Posted on 2/2/23 at 1:56 pm to Buryl
I work in loans and people are building homes like crazy.
If you can buy and afford the higher interest rate for the next 18-24 months until they come down, go ahead and buy a home and then refinance in the future. Or if it’s a temp home you can just sell it in the future and buy another one.
If you can buy and afford the higher interest rate for the next 18-24 months until they come down, go ahead and buy a home and then refinance in the future. Or if it’s a temp home you can just sell it in the future and buy another one.
Posted on 2/2/23 at 1:57 pm to Gray Tiger
I find that living in WBR and working across the river isn’t nearly as bad as living in EBR and working in WBR.
Posted on 2/2/23 at 2:05 pm to Buryl
I’ve got a place on some acreage out in Ethel I’m remodeling to sell. That area is starting to heat up too, which is crazy.
For 20 years nothing moved out there but now it’s picking up.
For 20 years nothing moved out there but now it’s picking up.
Posted on 2/2/23 at 2:06 pm to achenator
quote:
that's not a cheap house to build. I would be surprised if you could build that house, put in a pool, landscaping etc for any less than that.
Definitely not. And not with that lot pricing in there. And not with the new standards everyone is wanting. 12' ceilings, pedestal tubs, butlers pantries....
Houses have changed. Not just in the finishes (which have definitely shot up) but in where you put the square footage in a home. You used to be able to get larger living and dining rooms in homes because the kitchens weren't that important. The master baths and closets weren't that important. Now those square footages have shifted into other areas that are more expensive to build. The building codes have changed and made things more expensive - as an example a 16 Seer AC unit in 2022 wouldn't even qualify as a 14 SEER unit in 2023 bc the government changed the way SEER rating is calculated and set a new minimum SEER rating.
Builder's have to abide by the more expensive codes, more expensive materials, and more expensive expectations from customers and still make a profit. So you get house prices shooting up as compared to homes built just 7 or 8 years ago.
Posted on 2/2/23 at 2:06 pm to Buryl
quote:
Buryl
i'm a realtor and would like to help you make sense of it...
Posted on 2/2/23 at 2:13 pm to Buryl
A buddy of mine did a total restoration of his home on Woodlore Dr in Baton Rouge. He's a perfectionist, and it's like a brand new home inside and out. He just had it appraised around $230's - 3BR/2BA 1371 living . They're moving to Crowley and he is putting up a FSBO sign on the house this weekend. If anyone is in the market for a $230K home in BR, they don't get better than this one. google map image
Posted on 2/2/23 at 2:34 pm to Buryl
OP =/= OT Baller
This post was edited on 2/2/23 at 2:35 pm
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