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| Las Vegas Houses for Sale > Las Vegas Condo |
Lessons From a Las Vegas Condo Owner
Some Secrets on How to Buy a Condo in Las
Vegas - Finding the Gems Most Buyers Miss
As an investment broker Jerry Bowers was not unfamiliar with working with numbers.
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"But it's surprising what you can find once you get beyond the numbers like price and such," Jerry said. "Sure condo appreciation has been on the rise, in some cases dramatically, but exploding development has kinda stopped it in it's tracks in some markets." "So my advice is to focus on timing, quality and location if you want your condo to be a comparable investment to a single family home." And he's probably right. Sometimes if you time it right, you'll find that both condominium developers and individual owners alike will offer inducements. Like offering to pay your monthly association dues for as long as a year. Or package in other perks as part of the deal. |
Remember too that what those dues cover varies from complex to complex. It can even be different with various phases of a single project.
Jerry added, "Find out if the builder has been sued for shoddy construction in other complexes. That's obviously not a good sign."
Another thing? The hot market for condos in Las Vegas has attracted investors like road kill attracts flies. Now that it’s not so hot many of those investors are looking the exit. Eager to get out at almost any price. Either that or by renting to cover some of the monthly payment. Either of which may not be best for you the owner occupant.
Sure a Las Vegas condo offer a lifestyle that's low on maintenance and relatively low on upkeep. But if you don't look beyond the numbers and take some of the lessons Jerry has revealed to heart, you may pay a high price for the privilege.
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