This is a realistic example of rent versus buy in Greater Las Vegas using latest mortgage loan terms
In order to answer is it better to rent or buy Las Vegas homes or condos. We picked a $200,000 mortgage with updated interest rate, Annual Percentage Rate (APR) and home insurance rate. Please find the mortgage terms below
We also assumed that the average home price appreciation in Greater Las Vegas to be 3% per year for the next ten years and rental rate escalations of 4% per year.
In this video, we show how long the home buyer has to hold their house to break even and be actually better off buying than renting.
This is the video transcript of is it better to rent or buy Las Vegas homes, condos by numbers with all embedded data
As we mentioned in the video, home prices in this price range could appreciate by 10% this year and rental rate escalations to surpass 4%. But double-digit price gains can’t last forever and 3% to 5% average house or condo price appreciation in the next 10 years will be more probable.
We are in process of destroying and totally rebuilding the current website. A significant part of the new website is dedicated to home buying tutorials. In that page, we guide home or condo buyers through the whole process of preparing to buy to close of escrow.
If you want to buy a home for sale in Las Vegas, call us at 702-478-7800, start now, waiting will cost you money.
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