Letter to a First Time Home Buyer
You are wise to acknowledge that home ownership will be a large investment for you and your family. You may even know about the first time home buyer programs offered by the State of Nevada and the Neighborhood Housing Services of Southern Nevada (NHSSN).
Dear First Time Home Buyer,
It is wise of you to acknowledge that home ownership will be a large investment for you and your family. You have obviously done some homework before narrowing down your search to Las Vegas, and you probably already know about our wonderful weather (close to 300 days of sunshine per year). You may even know about the first time home buyer programs available here, such as those offered by the State of Nevada and the Neighborhood Housing Services of Southern Nevada (NHSSN).
You may of course still be concerned about the local housing market. The good news is that you will still find prices in Las Vegas very affordable compared to most other major US cities. And even though home values have increased, they are nowhere near their peak of 2006. Purchasing a Las Vegas home now could be your most prudent course of action; professional real estate investment firm Nova Dia Financial cited this city as a prime place for residential investment.
The cost of living in Las Vegas stacks up pretty favorably against major competitive markets. For instance, cities such as New York, Los Angeles, and San Francisco rate well above average for cost of living. As a first time home buyer, you do not need the additional financial stress of these higher costs, so it is even better news that property taxes around the Valley are very reasonable. And as for state tax—there isn’t any! You will also be happy to hear that Las Vegas has been experiencing steady job growth in nearly all sectors. Since Governor Sandoval took office, a campaign has been underway to make Nevada a more business friendly state, and this has increased job growth.
Let’s not forget that living in Las Vegas means having the world-famous Strip as your own personal entertainment center. Tourists fly in daily to experience the shows, nightlife, restaurants, and attractions, but it is all just a regular night out for residents.
That said, the Strip is not the only game in town. Do you like boating and water sports? Head to the Lake Mead recreation area. How about skiing in the wintertime? From the Valley floor, you can see when Mount Charleston is covered with snow and ready for ski and snowboard fun. For almost the entire year, you can enjoy hiking and picnicking at Red Rock Canyon or Valley of Fire. If you like sporting events, you can also go see the Las Vegas 51s during baseball season, cheer on the Runnin’ Rebels basketball team, or check out racing events at Las Vegas Motor Speedway.
Happy House Hunting!