Coming to look

I am ready to purchase a house in Las Vegas to use as a vacation home for 5-6 years and then move into it at retirement. I live and work in pacific nw. Looks like north Las Vegas is where I will be buying in the 150k price range. What do you think am I crazy?

 

Not at all. I've read that Las Vegas is one of the best places in the US to retire. I just think you're crazy because it gets so flippin' hot there in the summer. ;-)

 

Yes and NO, NO, NO!

Yes, you can get a decent house for $150k.

NO, you do not want to live in NLV. Bunch of crackerbox homes built during the boom, foreclosureville, tons of transient renters, huge city government problems. You are way up away from the heart of everything, a long way from the airport.

Downtown (Valley View, (95, Eastern, Sahara) is hot and gentrifying. I know... I just bought in that area and am happy.

East of Maryland from Sahara to Tropicana is teaming with 20 and 30 somethings buying, fixing up, getting ready to raise families. Big gentrification coming.

If you want to live in the suburbs, go south. Not north.

 

I've briefly entertained the idea of an investment property. But I'm pretty far from retirement, 30 years....I'm just wondering if I've missed the boat on bottomed out prices.

 

Listen to Neon! Unless you have looked around NLV, and really like it for some reason.... I think just about any area would be better.

 

I have a vacation condo in SW area. I'm retired now so we use it a couple months a year. So far we're happy with the purchase but I'm more and more uncomfortable leaving it empty for long periods of time. I can justify keeping it as an investment for the time being but as prices level off that might change. A single family home in NLV would be even more problematic cost and security wise.

Look very closely at the monthly costs to carry. You will need to consider power, security, exterminator, HOA possibly etc. Who will check on it for you when your not there? Have you thought about renting it out until you retire?

I don't think your crazy but make sure you do your research and be realistic.

TomTWI

 

Done deal. Centennial Hills. Closing approx July 31st

 

Congrats!!!

 

Cool.

I did the same (bought an LV vacation home) 3 years ago and it's worked out great.

Bill

 

Congratulations! I don't know much about that area just looked around once for a day. Being that far west it's not in NLV is it?

TomTWI

 

Recorded today. So I am officially a Vegas homeowner. Coming into town in 8 days to get the place set up. The adventure begins.

 

Keep us updated, Bookit!

 

Bookit,

Did you buy new construction or an existing? If you need to have remodeling done floors / painting etc. I can recommend the guy I used. Ours needed some work because it was a repo.

Also for furnishing check out the consignment stores. Get like new stuff for less than half price. There is a "Colleens" in that area. Took us about three trips to get it the way we wanted it, but was fun (and exhausting). PM me if you want any info. Good luck and have fun!

TomTWI

 

Congrats and I wish you the best of luck. Centennial Hills is a nice area.

 

Congrats!! We are looking to possibly buy something in the next couple years and then retire to it as well. We are looking in the Summerlin area. I am so tired of California. Born and raised but it's really getting to me....

 

I would rent before buying. Summerlin area has gone up about 20-25% (resell) since 2012, certainly not as high as crazy 2007 but creeping up. There is also an area that has problem with pipes used involving a lawsuit valley wide that I'm not sure how each HOA has dealt with it.

 

Were there in early August for 10 days getting place all set up. Coming again next week for long weekend. Will see how it did sitting vacant for 5 weeks

 

My Grandpa bought a house about a mile East of the Strip off Flamingo. Loves it. Now I have a place to stay for free. Win-win.

 

warp, I agree. I'm Cal born and have spent most of my life here. We didn't go to Vegas, remained in the state, but getting out of Southern Cal three years ago was the key. We're still down "there" often, I'm down "there" a lot, and we really hope we never have to move back into the bedlam that is the Southland.

Our good friends/neighbors from Riverside were here this weekend, and driving around, in our little town, through wine country, out to the beach, all Jim could mutter over and over and over was: "There are no cars, there are no cars, the air is clean, there are no cars, people are friendly, there are no cars, there are no cars, there are no cars." lol