Las Vegas Real Estate Blog

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Should I buy a house in Las Vegas right now?

I spend a few minutes each day answering real estate related questions online by email or on websites set up for the public to ask questions and receive responses.  I've noticed similar questions tend to come up and sometimes I know I've answered it before, but can't recall where. There have also been times where I put a good deal of effort into preparing an answer and later found the question had been deleted.  Well, I thought, why not post my answers to my own blog? 

btw, Spelling and grammar in the questions have been left "as asked".

The Question: 

Should I buy a house in Las Vegas right now?

My husband has a job making $80,000 and I'm a house wife.... we're relocating there for that... what would be a good amount to spend on a house?

 

My Answer:


Experts recommend 28% to a third of your income towards housing (although some loan programs will allow you to borrow much more) which would put you in the $300k-$350k range.

 

A few factors to think about are how much are you comfortable spending monthly on a house payment, what size home will fit your needs, then make a list of "must have" and "would like" for your ideal home.

 

Location will make a big difference in pricing too. You may find a home in Summerlin costing 30 or more percent compared with other Las Vegas neighborhoods.

 

If you'd like to get an idea of homes that match your price range and criteria you can follow this link: http://www.VegasProperty4u.com/property_request.shtml

Comment balloon 0 commentsDamon Botticelli • August 11 2008 03:00AM

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