Renting versus Purchase. This is an age old question and in most cases I would advise you to rent while learning the city but we are in a special situation currently and the scales are tipped far towards owning right now.
Prices for condos in some complexs have fallen over 60% off of their highs and you can purchase a condo for less then the cost to build in most cases. Also interest rates are at historical lows and cash purchases are over 50% of our monthly sales. Rental rates have fallen slightly but if you do the math it is cheaper in most cases to own then rent.
Depending on your timeline for owning the property; I think you would will be far better served to purchase in the next few months an hold for over 5 years. Based on what I am seeing come out of Washington DC; the Fed will have to raise interest rates and that will have a larger impact on loan payments then waiting to see if you can purchase for a few thousand dollars cheaper price in the next year.
We maintain the daily updated list from a private listing Bank REO listing service.
I suggest that between the really low prices and the really low interest rates available today, makes buying now very attractive.
David Cooper..Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. FREE daily list.. email email@example.com or call +1-7024997037... not a real estate agent
But specifically, the wealthier zip codes such as 89144 in Summerlin (89135, 89117, 89134) and others in Green Valley (89052) have lower crime rates and higher test scores for the surrounding schools. The entire Las Vegas Valley can be traveled from one end to the other in an hour flat, so distance is not too much of a challenge compared to other metropolitan areas such as Southern California.
Specifically, I would look into Amber Ridge Condos off Park Run and Town Center, as well as the Dakotas which are all on the street Peachy Canyon. The Dakotas are a mastered planned golf course community with all of the amenities you mentioned. In addition, both have close freeway access and would only be about a 20 minute drive from the units to UNLV. I know, because I did this commute for four years while I was in my undergrad at UNLV, before I entered the real estate market. If you purchase a home you will not have to worry about the pet restrictions, if you rent it would be on a condo by condo basis. The decision on whether to rent or buy depends on a number of factors, but the most important is location. If I were you, I would start looking online and determine a time to come out here and tour the areas. Taking one trip here and looking at the different communities will give you an idea of WHAT you need to be looking for online whether you decide to rent or buy. Contact me for additional information or if you would like any more resources.
Shapiro and Sher Group
Maybe you'd like to just rent the first year and get to know Las Vegas and the surrounding areas? That's what I did when I moved here from Iowa.
My youngest is taking his final final at UNLV today as a matter of fact and drove to class everyday., a distance of about 11 miles and depending on traffic he was coming from Summerlin it would take him around 30 minutes to drive and get parked at UNLV's parking lot.
The main time consumer is crossing over the Las Vegas Blvd. It your living on the other said of the strip then that won't be a problem.
If you need help to find a rental property I'd be more than happy to help you find one. If you decide to buy a place I'd be more than happy to help you with that also, I have been a full-time Real Estate Agent for over 12 years.
FYI, You will love living in Las Vegas or a surrounding location. It's wonderful here.
Enjoy your day.
Penny O'Brien with Simply Vegas
Please let me know if you have any other questions. You can email me direct at firstname.lastname@example.org.