Thinking about buying a home in the Vegas Valley?

Whether you’ve never owned before or it’s been a while since youʼve purchased. Let’s talk about the pros and cons.

Let’s review the pro’s first.

1. Your wealth could increase as you build equity in your home. Research from experts and economics from the home price expectation survey lead that were going to continue to see an increase in home equity through 2023, averaging about 3%. If you look at it based upon a $250,000 home, after 6 years you have made over $42,000 of appreciation.
2. You gain tax advantages. Mortgage interest is deductible as per IRS code. You can speak to your accountant for more specific information and numbers on that. This can be a significant tax advantage in owning a home.

3. According to CoreLogic, rents are going to keep going up and mortgages are going down.
4. You can stabilize your payments. Monthly payments are relatively steady if you have a fixed interest rate loan, while your landlord can increase your rents.
5. You’ll have a secure place for you and your family to live and grow. You can also decorate and expand your home in a way that you can create your own dream home for you.

6. You gain a sense of Community. Homeowners are often more involved in the well being of their communities. Many homeowners work together to better the schools and to lessen the crime.

Now let’s think about the cons about living in the Vegas Valley area.

1. You need to think about maintenance cost. It takes work and money to keep a home in good condition.
2. It can tie up your cash. Selling your house may not be possible within the first few years of ownership. Moving is a bit more difficult and complicated early on. So you may have more flexibility on your job rather than planning to move.
3. Your home can fluctuate in value. There is no guarantee that your home will increase in value. In fact, it could decrease.
4. It obligates your finances. When you buy a home, you’re obligated to make the monthly payments no matter what. It’s always a good idea to have a bit of a nest egg in the bank for backup in case of a rainy day.

Buying a home can be scary. So give us a call and let us guide You!

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If you ever have any questions about the market or whether it’s the right time to consider buying or selling, reach out to us📩 .

We’re here to help!

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For more information:

📲 (702) 354-3262

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