Before Moving to a New Home in Las Vegas, Read These Three Tips
- By: Allison Plank
Did you know that almost 39 million people visit Las Vegas every year? Though it’s known as a vacation hot spot, less well known is its advantages as a more permanent place to live. Not only does it offer many options for recreation, but there is also an average of 294 days of sunshine per year, no state income tax, and amazing hiking areas for people who like to get away from the bustle of the city. Thinking about buying a home in or around Las Vegas? Then there are a few things you should keep in mind.
1. Consider Different Types of Homes
Most of us start off home shopping with an ideal layout in mind. For some people, this might be a small ranch home with a sprawling yard. For others, it might be a modern design, three story home. In any case, it’s a good idea to be flexible during the home home search. You might find that luxury condos in this area, for example, offer amenities that a larger home would not. Check out different types of homes and styles like pueblo, mediterranean, Italian villa, and tudor, as all of these are fairly popular choices in the region and might end up being more accommodating to your family’s needs than your original first choice.
2. How to Conduct Your Search for Las Vegas Homes
Did you know that over 90% of home buyers decide to look at homes they’ve found online? This can be a good way to begin your search. Once you’re actually checking houses out, take pictures as you go along. This will help your later process of sorting through the homes you’ve looked at, and deciding which one is right for you. Keep in mind several important factors beyond the home itself: how long will your commute be? How is the area traffic in the morning? Is it a safe neighborhood? If you have children, are there decent schools nearby? Henderson real estate, which is part of the larger Vegas metropolitan area, is often a popular choice, and in 2011, Forbes rated Henderson the second safest city in America.
3. Getting a Mortgage
Financing is often one of the most stressful aspects of moving to a new home. If this is your first home, most experts recommend spending between 25% and 32% of your household monthly income. The rate will vary from person to person, but you want enough left over to cover your other expenses, as well as unforeseen difficulties, such as job layoffs or injuries. Once you know your financial situation, shop around for a loan. The lowest interest rate is not the only factor to pay attention to: consider loan term, application fees, broker fees, etc. Once you’ve figured this out, all you need to do is apply for the loan.
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