Las Vegas Vacation Homes- Henderson Vacation Homes
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Las Vegas Vacation HomesLet Max know what your looking for here NOW! A Las Vegas vacation home is always an important decision and one that should be well thought through on several levels.
Las Vegas is one of the hottest second home markets in the United States according to Forbes Magazine. The appreciation in the Las Vegas real estate market as well as the future demand in the market make it a smart place to invest in a vacation residence.
With so much to offer Las Vegas is THE adult playground for not just the U.S., but for the world. Demand for condominiums for use as Las Vegas vacation homes has soared in the real estate market. High rise condo projects have proven to be very desirable as they put the buyer in the most desirable locations with "The Strip" right outside the owners door. Most of the world best chefs have restaurants in Las Vegas, international stars perform concerts, shows, live theater, gaming, many of the worlds best night clubs are all right here in Las Vegas. Locating on "The Strip" is desirable but if living next to Caesars is a little to pricey for your budget you may want to consider the new "South Strip area." This is where the new South Coast Casino just opened and several other large casinos are slated to go under construction soon. It also is an area that you can catch a bus, cab or limo from and be on the high end area of The Strip in just a few minutes. There are many offerings of both high rise projects and mid rise projects which are less expensive here. If you still find The South Strip a bit to pricey for your needs. Then lets take a look at one of the many condo projects both new and resale that are off the strip. Recently there have been many large apartment complexes purchased by developers and converted to condo's. These can be a great value. As far as transportation is concerned you may need a car or be willing to wait for a bus or call a taxi. Las Vegas has wonderful benefits for retired people. Be sure to check out my section on Retiring in Las Vegas to see all the benefits that are available to you. With more and more baby boomers retiring right now we are seeing allot of activity in the market in this area. The cost of maintaining a second residence can be hard to figure out for many people. Let me suggest that you give me a call and I will be very happy to help you estimate your costs. The IRS stipulates that you can rent your residence for up to 2 weeks per year without considering it an income property. There are allot of alternatives right now here in Las Vegas to help you offset your costs. One of the interesting new products offered here is the Condotel. Condotel is a hybrid of a single ownership condominium and a Hotel facility that rents it as it would any other hotel room. This could vastly reduce the cost of maintaining a second residence and make it possible to upgrade location or size of the unit. Be aware that when you put a condo in a rental situation you are then in direct competition for the high season booking periods if that's when you want to use it. Generally you will need a 20 to 25% cash down payment and 3% closing costs to purchase your new 2nd home. But keep in mind generally the greater your cash investment the better your cash flows are. A condotel on The Strip of approximately 600 square feet can cost $400,000. while a condo 1 mile off the strip approximately 900 square feet can cost $200,000. If your considering a house don't forget you will be responsible for exterior upkeep of the landscaping and home. Most neighborhoods in Las Vegas have restrictive covenants and hire management companies to enforce these rules. Condo's also have restrictive covenants but generally maintain the landscaping and exteriors.
Prudential Americana Group, Realtors® Las Vegas Vacation Homes- Henderson Vacation homes
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