2007-06-04 10:01:27 · 5 answers · asked by myla d 1 in Travel ➔ United States ➔ Las Vegas
I honestly think that it is a good idea to buy a house in Vegas.
At the moment you can buy a new 3 bedroom 2-story house for less than 250,000! Trust me when I say that that is a BARGAIN!!! I say that because I moved to Vegas from Santa Barbara where the cheapest house you could find was 700,000!
Henderson has nice homes, but it's a little more pricey than other areas like North Las Vegas, but everywhere you look you will find affordable and VERY pretty homes.
The city is great and has plenty to do, you'll never be bored here.
GO FOR IT, trust me you'll have cheap mortgage and a great house, it's the beauty of VEGAS!!!
2007-06-04 13:19:57 · answer #1 · answered by Cynthia² 3 · 0⤊ 0⤋
I have to be the naysayer. Sorry. There are good and bad things about buying in Las Vegas right now.
The Vegas market has a lot of cheap houses right now which is good. However:
* The market is completely oversaturated right now with close to 28,000 properties on the market. This is great for a buyer, but might not be so great when you want to sell. You may experience some depreciation, and your house sitting on the market for a long time. A house in my neighborhood has been on the market now for about 8 months.
* Lots of companies won't move their businesses here because of the "what happens in Vegas..." motto. This could prove bad for the local economy in the long run.
* The job salaries don't always match the costs of homes here - so even if you had a renter, they might not be able to cover your monthly mortgage.
* We have water restrictions that may not get better with time and with the citiy's growth. Yes, the city is getting bigger, but often without the consideration of what may happen in the future.
2007-06-05 05:50:57 · answer #2 · answered by ValentineP 4 · 0⤊ 0⤋
Vegas is the fastest growing city in the country and the housing market keeps going up there. In the interest of investments I'd say buy now and you'll make a profit if you sell later.
I'd never live out there. My dad does and his back yard is a bunch of dirt. Unless you're on the strip or in a great neighborhood you won't see that much green. You're in a desert after all. Nightlife would be fantastic though and the humidity is low.
2007-06-04 14:23:42 · answer #3 · answered by lenurse 3 · 0⤊ 0⤋
we just bought a house in northern Las Vegas. It is a 3 bedroom with a loft. Gorgeous, master planned community for under $250,000!! Plus, we added a few upgrades to our home like all tile flooring in the down stairs. Great for a buyer, probably not so great for the people who are trying to sell there homes right now. However, vegas is growing, and growing. In a few more years, our house may be worth double what we paid!
2007-06-05 10:24:49 · answer #4 · answered by Christine O 2 · 0⤊ 0⤋
With an average of 50,000 new people a year moving out here. It is a great idea to buy a house The prices will continue to appreciate.
2007-06-04 15:05:09 · answer #5 · answered by Michael M 7 · 0⤊ 0⤋