A Vacation Home in Las Vegas? Absolutely!
As a prime vacation destination all year round, with easy access by air (or by car, depending where you originate) and attractive prices for real estate, Las Vegas has the perfect components for building your vacation nest.
You’re thinking about it. C’mon, you know you are… But should you do it? Should you buy a vacation home in Las Vegas? Well, considering that it’s a prime vacation destination year-round, is easily reachable by airplane or car, and has attractive prices for real estate — the answer should be a resounding “yes!” Here are a few reasons — aside from the 300 days of sunshine per year — that you should buy a second home in Las Vegas.
Unlike a more one-dimensional vacation home in Sun Valley, Idaho, for skiing, or a place along the Jersey shore for summers on the beach, a vacation home in Las Vegas offers a multi-dimensional destination.
It’s a 24/7 city, with shows, dining, gaming, and nightlife. But it also has recreational environs like the Valley of Fire State Park and Red Rock Canyon Natural Conservation Area for hiking or horseback riding. Want to enjoy boating, fishing, or other water activities? Lake Mead provides all those options. And if you’re a golfer, Las Vegas is practically synonymous with top-notch golf courses. If you fancy some skiing in the wintertime, Mount Charleston has just what you’re looking for to go skiing and snowboarding.
A Good Investment
Now that you know all the reasons you want that Las Vegas vacation home, you’re wondering about the reality and practicality of getting it. You might be surprised at how affordable a second home can be: The median price for condos and townhomes in Las Vegas was $100,000 in October 2013, as reported by the Greater Las Vegas Association of Realtors (GLVAR). The report also shows that condo and townhome prices are on the upswing, climbing 38.9 percent year-over-year.
So while the state of your fortunes at the gaming tables may be subject to luck, it’s a pretty safe bet that your vacation home in Las Vegas will retain its value, and most likely appreciate. Condos make ideal vacation homes because much of the maintenance is covered by the condo association. If you prefer a single-family home, however, GLVR reports that they were available starting at prices under $200,000.
Ready to Buy
Now that you know you’ll be investing in a fabulous destination at attractive price points, you’ll want to start shopping for that new vacation home. Meeting with a real estate agent to discuss your wish-list and non-negotiables makes a good start in your search. It’s worth noting that, if you don’t want to use the property for long stretches of time, it is feasible to find a short-term or long-term tenant to offset the costs of maintaining the home. However, you’ll likely want to use your vacation home in Las Vegas often, so you can make the most of your financial investment — and have the most fun.
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