Are you looking for a good location to invest? We discuss the top 4 reasons you should invest in Las Vegas and why investing in Nevada can be a smart decision for you. Brittany covers the main reasons why so many people are investing in Las Vegas and how you could benefit from investing in real estate in Las Vegas.
One of the top reasons you should invest in Las Vegas are the tax advantages in Nevada. As one of the states with low property taxes and with the benefits of no state income tax (thanks to our tourism revenue!), Las Vegas is an attractive option for many people looking to invest. Nevada is also considered a business friendly state, with corporate tax incentives making it more appealing for entrepreneurs to explore business ventures.
Another reason investing in Las Vegas is so popular can be attributed to the rate of growth. Las Vegas is one of the fastest growing cities in the U.S. right now. This coupled with the low cost of living in Las Vegas has created a large amount of short term migration into the city – resulting in a competitive renter pool. Las Vegas is well known for having a larger renter pool than other cities and this has, in turn, resulted in rising rent prices. Scarcity of land is another factor that has driven up investing in real estate in Las Vegas.
Surrounded by federally managed lands and with a limited amount of buildable space, the scarcity of land in Las Vegas has also driven up home prices. Likewise, the extraordinarily high demand for homes in the recent months well as low inventory (just 2 weeks of inventory available in the market), have helped driven up home values. Rising home values and appreciation of homes cap off the top 4 reasons you should invest in Las Vegas.
Las Vegas is ranked in the top 10% in the U.S. for home appreciation which makes it extremely attractive for real estate investors looking for a high return on investment. Thinking about buying, selling or investing in real estate? Schedule Your Free Consultation! We pride ourselves in helping our clients realize their real estate goals through great communication, expert negotiation, and genuine service.