Las Vegas

[kt5122]

We have been looking to purchase a home in the NW for the past 4 months.  We may only be here 5yrs, but we really aren't sure.  What you do all think about building a new home?  We don't have to make money(although nice), but we would like to break even when all is said and done.  Thoughts?

[ladude]

With the total lack of inventory, buying a new home is a legitimate way right now to go in Vegas.  Since theres still so much cheap land, new homes can be had at reasonable prices.  Why do you want the NW?  I personally like Henderson or SW better, but up to you.  I looked at a few new developments last month in Vegas, mostly from KB as their prices seemed better than the other builders.  A few things to consider, make sure to find out all the fees.  New communities there have SIVs or other development fees that increase costs a lot.  I looked at one new home that was only $180K in Henderson, but adding in the $90/month SIV (for 20 more years) and $90 HOA increased the cost a lot!  The homebuilders have been raising prices recently, probably due to demand.

I think people forget also that new homes have new HVAC and pipes and roof.  Sure you can buy a resale for cheaper, but there's also many times deferred maintenance that will increase cost of ownership, rendering a slight price advantage moot.  Good luck

[kt5122]

Thank you for getting back to me.    We are looking NW because my husband works close to Indian Springs.  You are right in everything you have said.  Buying brand new is about 10k more(according to our realtor) but by the time you fix things, make it yours, pay higher utilities,etc it makes that 10K look like nothing. You are right about all the SIDS, LIDS, HOAs, ETc.  we were looking at building a 170k home, but all of that was going to make the monthly payment as much as a 225k home with ONLY a $25 HOA.  Crazy!