If you’re thinking of investing in real estate in Las Vegas, you might have doubts about the timing. While it remains one of the best property markets in the U.S., the global pandemic has created worldwide uncertainty. Fortunately, real estate is a long-term investment that provides profitable opportunities even during economic turmoil.
Why It’s a Good Idea to Invest Now
There are several benefits to investing in real estate in Las Vegas. With a carefully curated investment portfolio, you can enjoy passive income, superb returns and tax advantages. You can also diversify your investments, which reduces overall risk. Owning your house or business premises shields you from rent hikes and the effects of inflation.
If you choose to rent it out, you’ll earn a steady income as the value of your property increases over time. You might adopt a cautious approach due to the prevailing pandemic but from an investment viewpoint, it presents a lot of once-in-a-lifetime deals. The following factors make Las Vegas an attractive property market:
1. Low Mortgage Rates
The Federal Reserve’s efforts have made interest rates arguably the lowest in decades. If you have a stable job, savings and other sources of income, now’s the time to consider investing in real estate in Las Vegas. You can lock in low mortgage rates, which will prove to be a wise decision when the market fully rebounds.
2. Variety of Listings
The unexpected result of the coronavirus containment measures included the closure of casinos. This situation caused massive job losses for tourism-dependent Las Vegas. The economic downturn forced some homeowners to either refinance their mortgages or sell outright. Such developments present profitable opportunities, especially if you’re a cash buyer.
3. Reduced Speculation
Among the casualties of the current pandemic are house-flipping companies. Their retreat means you’re less likely to buy an overpriced unit. While most people hold back until stability returns, you could close some successful deals that will give you handsome returns when the market bounces back.
Valuable Real Estate Locations in Las Vegas
Las Vegas has been a popular tourist destination and an attractive property market for decades. A suitable property has great potential for rental income and long-term equity. In addition to having zero personal income tax for residents, Las Vegas also has low investment property taxes. The state’s average of 0.69% is lower than the 1.08% national average. If you’re considering investing in real estate in Las Vegas, the following neighborhoods are worth checking out:
- Tule Springs is family-friendly.
- Green Valley, a 15-minute drive from the strip, is ideal for investments in properties that you can rent out to tourists.
- Pioneer Park has affordable units and proximity to useful amenities.
- Michael Way units have a lower average price per square foot than the state average.
- Summerlin, although pricier, offers high living standards.
Start Investing Today!
Investing in real estate in Las Vegas is one of the best decisions you’ll ever make. At Precision Realty & Property Management, we’re committed to helping you find your dream location. Whether you’re investing for personal or business reasons, we’ll help you identify property customized to your needs. Please contact us today for more details.