Southern Nevada Communities rank in the top 25 in sales, according to a latest report from Zillow home listing service.
Southern Nevada has substantial benefits for resale and custom home buyers. Here are the top Benefits of Buying a Home in Southern Nevada.
1. Home Values Growing Faster Than US Average
The median estimated home value in the Las Vegas Valley has risen 10.2 percent from last year. Nationally, the median home value is up 7.4 percent, according to Zillow.
While Las Vegas had a hard hit during the recession the recoil of the Valley and the state is well ahead nationally. Making the state a premiere location for in-state and out-of-state home buyers.
2. Low Construction Costs
Custom home sales are up 28 percent from last year. “The sales tally was No. 7 among U.S. master-planned communities,” according to the Las Vegas Review-Journal.
The cost per square foot for resale and new construction are near level. With low construction rates a new construction home buyer roughly pays the same as a resale home buyer.
New construction home sales have also risen and are up 30.9 percent from the same four-month period last year, according to a new report from Las Vegas housing tracker Home Builders Research.
Making new construction a definite bonus over resale.
3. Tax Breaks
The lack of a state tax in Nevada fuels out-of-state buyers especially in the realm of luxury custom home buyers.
The Nevada state tax savings are enough to either subsidize or cover much of a California mortgage payment, according Damien Bauman, senior mortgage lender for residential construction with Nevada State Bank.
Hence, why 25 percent of business people relocate to Nevada and more than 80 percent are relocating from California.
While these business owners may still keep their offices elsewhere having a primary residence in Southern Nevada is efficient choice for tax savings.
4. Booming Economy Increases Luxury Developments
With the rise of professional sports teams in Las Vegas, including the relocation of the Raiders and a new NHL team the Vegas Valley’s luxury market is on the rise.
With more professional athletes coming to Las Vegas and billions of dollars worth of development on and off the Strip the luxury housing market continues to boom.
Ascaya leads the way for ultra exclusivity and authentic custom home building that is separate from the typical master-planning and high rise condominiums.
Exclusive custom home buyers find the many benefits in building at Ascaya and in the suburb of Henderson. Due to the fact that the city is separate from the Las Vegas infrastructure and the community is the most exclusive in the Valley and state.
The city of Henderson has its own school district and law enforcement. Henderson ranks as one of the top safest best cities in the nation along accumulating some of the top ranked schools in the state and the U.S.
With the city and state’s effortless economic growth the real estate market continues to rise to its’ peak. Making the benefits of purchasing a home in Southern Nevada highly appealing for home buyers.