Different Types of Homes Available in Vegas
Las Vegas is best known for its gambling and party scenes, and is often low down on the list of family friend places to settle down. Despite this, however, some of the best properties can be purchased in or around the big city as the city offers ample space and a variety of different kinds of homes. Between the different options here, you’re almost guaranteed to find a home that will work with your budget and sit well with your family or roommates.
Not all home options are beneficial to everyone, though, so to help you decide which type of home you want to buy or rent in Vegas, here is a list of some of the homes available and what pros and cons they may have, as well as any interesting side information about them.
Condos in Las Vegas tend to compete with apartments for tenants, and because of this, many condos offer incentives or discounts to potential buyers. Most condos can’t be financed- this is unlikely to affect you if you’re buying with cash, but in the future, this fact can have an impact if you choose to sell your condo. By selling your condo in the future, the most likely buyers are going to be investors, and if occupancy rates drop due to the competition with apartments, the values of condos is likely to fall. A condo’s outer maintenance is taken care of by the association that owns it- this sounds like a big advantage, but the outer half of the home doesn’t usually need maintenance. The inside of the home – that isn’t covered by the association- is what needs the most repair.
Multi-family homes in Las Vegas range from $500 to $800 a month, and are occupied primarily by people who live their day to day lives with cash. Typically, only investors own multi-family homes. As with condos, multi-family homes compete with apartments, and they are often located in undesirable areas of town. These types of homes offer a full set of appliances, but a fourplex multi-family home (on average) needs four times as much maintenance as other types of homes do. These types of homes include duplexes, triplexes, and fourplexes.
A single-family home generally appeals to singles or couples with children. They offer more privacy than other options, but are also known to be more expensive. They don’t compete with condos or apartments, and are built with sturdy materials. When these materials break down, they are often more costly to repair or replace, as they are more expensive to begin with. When it comes time to sell a single-family home, you’ll have your choice of two buyers: a home owner or a home investor, and have good luck selling as single-family homes are almost always going up in value.
Town homes in Las Vegas usually have a small backyard, which is something that separates them from condos or apartments. They also have one or more garages, and each town home complex usually has an outdoor pool for the complex tenants to use. In other parts of the state and country, town homes are often called attached homes and are classified as a type of condo.
No type of home is really better or worse than any other. Each type of home has its pros and cons, and a market of buyers, as well as a group of supporters who will swear that it is the best kind of home to live in. Along with this, comes the group of people who are against each type of home. Both groups have their reasons and most of these reasons have truth behind them.
It comes down to a matter of opinion and personal preference, but if you’re having a hard time deciding, ask a realtor to take you to see each type of home to give you more of an idea of what living there would be like. Be sure to ask him or her any questions that come to mind- there is no such thing as a stupid question! Also, remember to have fun choosing your home as this is where you’ll be living for the foreseeable future.