Types of homes available in Las Vegas
Las Vegas is known for its gambling and party scenes and is often not on the list of family-friendly places to settle down. Despite this, however, some of the best properties can be purchased in or around the big city as the city offers ample space and a variety of different kinds of homes. Between the different options here, anyone is almost guaranteed to find a home that will be good to their pocket and sit well with their family or friends.
Not all home options are beneficial to everyone, though, so to help clients decide which type of home they want to buy or rent in Vegas, here is a list of some of the homes available and what pros and cons they may have, as well as some additional interesting information about them.
Condos in IMS Realty Las Vegas tend to compete with apartments for tenants, and because of this, many condos offer incentives or discounts to potential buyers. Most condos cannot be financed but this will not create any problem when buying with cash, but in the future, this fact can have an impact if a person chooses to sell the condo. The most likely buyers when one sells the condo in the future, are going to be investors, and if occupancy rates drop due to the competition with apartments, the values of condos are likely to fall. What sounds like a big advantage is that a condo’s outer maintenance is taken care of by the association that owns but the outer half of the home does not usually need maintenance it is the inside of the home that needs the most repair and that is not covered by the association.
Multi-family homes in Las Vegas are occupied generally by people who live their day to day lives with cash. Typically, only investors own multi-family homes. As with condos, multi-family homes compete with apartments, and they are often located in undesirable areas of town. These types of homes offer a full set of appliances but they require much more maintenance. These types of homes include duplexes, triplexes, and fourplexes.
A single-family home primarily appeals to singles or couples with children. Even though they offer more privacy than any other option they are very expensive. They do not compete with condos or apartments and are built with sturdy materials. When these materials break down, they are often more costly to repair or replace, as they are more expensive, to begin with. While selling a single-family home, there will be two types of buyers: a homeowner or a home investor, and have good luck selling as single-family homes are almost always going up in value.
Town homes in Las Vegas usually have a small backyard, which is what differentiates them from condos or apartments. They also have one or more garages, and each town home complex usually has an outdoor pool for the complex tenants to use. In other parts of the state and country, town homes are often called attached homes and are classified as a type of condo.