Great – you’re going to take the big step – buying your first home. When doing your research maybe you will find buying a condo might be the correct option for you.
Recently there has been a rise in the vibrant condo market – in Las Vegas we are seeing many different residential opportunities other than the buying a detached single-family homes. A good amount of the condos are located in the more urban areas close to commercial and recreational areas and workplaces.
Historically single-family homes have had the best appreciation record however now market trends are suggesting a shift. Data collected for the past five years through February 2017 show that appreciation of the value of condos has risen by 38.4 percent-and single family homes saw an appreciation of 27.9 percent. This increase in market value of condos can mean the sooner you can cash out on this appreciation and upgrade your housing.
In the Las Vegas Valley even with the value of condos outpacing the growth of single-family homes – the prices of condos are still lower at this time. Homebuilders in Las Vegas have noticed the trend and are building condos and townhomes in several different areas of the valley including Summerlin and Henderson.
A condo can make the ideal transaction from renting to owning. For some people owning a detached single-family home can be overwhelming. When buying a condo you don’t have to deal with landscaping, repairing things like windows or finding a security company. Plus most condo developments come with many amenities like a fitness center, swimming pool and indoor parking.
Keep in mind that whether you are interested in buying a home or listing a home, a Realtor should represent you– this person is working for your benefit and will help you navigate through the buying or selling process. I have thirteen years in New Home Sales and fifteen years in General Real Estate sales!
Thanks and make it a terrific day…………Robin