Las Vegas Real Estate

Seven Deadly Sins to Avoid and LIDS and SIDS

1. The Seven Deadly Sins Committed When Buying Real Estate
2. LIDS and SIDS
3. Please read our Las Vegas Real Estate Blog and discuss all related topics in our real estate and mortgage forum.

Seven Deadly Sins

1. Not getting structural and mechanical inspections.
2. Buying the most expensive model in a neighborhood.
3. Buying the smallest house in a neighborhood.
4. Over upgrading a house.
5. Under upgrading a house.
6. Not planning enough bedrooms and garages, corresponding to your price range, (yes we have seen two bedroom, million dollar houses).
7. Not having your finances in order when purchasing a house.   TOP

LIDS and SIDS

SIDS (Special Improvement District) or LIDS (Local Improvement District) are bonds that developers take out in order to build infrastructure. SIDS and LIDS are either worked in the price of the single family residences or are transferred to buyers in term of a monthly payment to be paid over a number of years. This is in addition to HOA (Home Owners Association) fees which are charged to the owners for upkeep of common areas. For example Paradise Point by Pulte doesn’t have LIDS but KB Homes at Paradise Point have monthly LIDS of about $90 per month. These subdivisions are less than 5 minutes apart.    TOP