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| Las Vegas Homes for Sale > Las Vegas Nevada Real Estate |
When Buying Las Vegas Nevada Real
Estate Make Sure It's Your Head
Not Your Heart That Rules
"It's true. First time buyers often decide to buy a their bit of Las Vegas Nevada real estate for the wrong reasons," admitted Derek Winkler a 35 year old vet of the home buying process.
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"Rather than decide on facts they fall in love with a piece of property. They see little lambs dancing in the fields all but ignoring the circling vultures overhead." Derek is right. Many tend to get stars in their eyes when eyeing real estate in Las Vegas. Instead it's better to be systematic and decide on a house based on facts. Know the numbers. What you can afford. What you can borrow. The tax implications. What you'll do if some significant home repair crops up sooner rather than later. |
The rule of thumb is your house payment (principle, interest, property taxes and insurance) should not exceed 33% of your monthly household income. If the Las Vegas real estate for sale you desire takes more than that, you're probably taking on too much risk.
It's wise to get a lender to verify that number for you. Given the competitive climate for home mortgages, you can most likely get this done for free.
Don't forget the closing costs. Best case assume 5% of the selling price.
Armed with the facts and figures about buying Las Vegas real estate for sale, it’s best to limit yourself to houses in your price range. It will save you time now and perhaps grief later to ignore those houses that are going for $235,000 or $335,000if all you can afford is $195,000.
These are some of the things you can do to make sure it's your head not your heart that rules when it comes to buying Las Vegas Nevada real estate.
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