Investing in real estate is one of the safest investments a person can make. Of course, you need to have at least the basic knowledge before making the first step.
But let’s assume that you have the basic knowledge and are looking for a new place to invest in. Las Vegas is one of the top places where the properties have gained value. Join us while we look at the best areas for real estate investors in Las Vegas.
Our picks of the best areas for real estate investors in Las Vegas
Even though everybody got scared that the real estate market would be impacted by the pandemic negatively, the opposite happened. The housing market is booming and reaching its all-time high. Just last year, there was a 30% increase in home values! The median price of older single-family homes reached $395,000, while new homes were estimated at $402,990. The real estate market will stay strong. However, at one point, prices will go back to the normal level without high increases. But regardless, the future is looking bright for the real estate market in Las Vegas.
Investing in one of the best areas for real estate investors in Las Vegas has proven to be beneficial.
If you are interested in a fancy area, Rhodes Ranch is perfect for you. This gated community is a dream of many. This is where wealthy people come to live. Security is top-notch. There are many security checks before you arrive at the property. Moreover, residents of Rhodes Ranch can enjoy the perks of the Recreation Center. There are tennis courts, golf course, workout area, lounging area, and more!
Getting a property here is an intelligent decision. People that move here are looking for long-term rentals. And since the demand is high, you will not have to wait for a long time to find good tenants. Think about advertising your property on social media platforms to speed things up. You will gain more visibility and thus reach potential tenants easier.
Rhodes Ranch is an exclusive, luxurious community.
One of the most popular areas in Las Vegas for real estate investors is Henderson. It is located just 15 minutes from the famous tourist attractions on the Las Vegas Strip. This is excellent news since the location of your property will not lose its value.
As someone looking to invest in a property in Las Vegas, you should be aware that if you are planning to buy a property with the intention to rent it short term, it might not be possible in some areas. However, if you opt for Henderson, you are lucky because it is legal here! Even though you will pay a hefty price, it will be worth it in the long run. Rental rates here are 7% higher than the average rent rates in Vegas.
- The median price in Henderson was estimated at $498.2K in March 2022.
- The median monthly rent for an apartment is around $1,595, 15% more than last year.
You will have to respect specific rules, and there will be some fees that you will need to pay. But knowing that taxes are low in Nevada, you will still have a great return on investment. Moreover, Henderson is a safe area that attracts a lot of people. Real Estate prices are expected to appreciate over the next few years. Therefore, moving to Henderson will be the best decision you have made, personally and professionally. Once you find your property, all it’s left to do is find a moving ally that knows the area by heart. Just let professionals guide you, and you will have a smooth move to your new home in Henderson.
A great place just a short distance from the Las Vegas Strip. This is a popular area for renters. The area is safe and has access to incredible amenities. Moreover, this place has seen increased prices because it has become popular among families. And the reason why it is so is that Summerlin has highly rated schools.
Not every part of Summerlin has equal prices. Some of them are more costly than others. If you have a view of Turtlehead Mountain, your property has more value. Therefore, the price is higher than the average. Moreover, one important thing you should keep in mind is never to accept the first offer. Make sure to negotiate the price. You never know if you will be able to get a better deal than the one that you were initially offered!
Buying a property in Summerlin will pay off in the long run.
North Las Vegas
This area used to be known as one of the most dangerous in Las Vegas. However, over the last few years, things have improved. North Las Vegas is close to many parks, which is excellent for people that love to spend time outdoors.
This area has been under construction, and condos are rapidly selling. This is one of the rare areas in Vegas that still has land you can build on. North Las Vegas is likely to develop and become as popular as Summerlin. By investing in real estate here, you will quickly pay off your mortgage and still have some money left for your personal use. Don’t let the bad reputation from the past scare you. Do some more research on the upcoming construction projects and get to know the area before you decide. It will give you a better picture of what to expect.
Invest in the future
Las Vegas and Nevada, in general, are very lucrative for real estate investments. This is all due to the low property taxes. You can rest assured that property tax will not surpass 3% because a property tax abatement law limits the increases. Moreover, if you become a resident of Nevada, you will not have to pay income taxes, whether you have a salary in Nevada or a passive income. This is what dreams are made of for real estate investors. To make sure you choose the place you like most and that will bring you the most gain, make sure to do some more research on these best areas for real estate investors in Las Vegas.