Las Vegas offers so much more bang for your buck. Here’s why.
Living in sunny California's beautiful south has always been an attractive option, but after staying there for a while, you start to think: what can $700,000 really get you? How much is your property tax? How old is your home that's worth $700,000 right now? You can get a nicely remodeled Spanish-style home in the Huntington Park area built in the 1950s for that price, but then it would be a 1000 square feet to 1500 square feet property.
In 2017, I decided to look into neighboring cities outside of California. Las Vegas was one of them. It may be booming, but the housing market has also shifted, so what was $800,000 eight months ago is now somewhere around $750,000.
Here's a question for you: How much house can you get for $700,000 in Las Vegas? Before we talk about what you can get for $700,000 in Las Vegas, let's talk about the benefits this state has.
First, they don’t have income tax. This one was huge for me as it has kept a lot of money in my pocket to take home. The next thing is the property tax here in Las Vegas is less than 1%. This is why Nevada and others like Florida are such attractive retirement states.
"What does $700,000 really get you?"
For $700,000, you can purchase a Spanish-style home that was built just last year, meaning you'll be getting a brand-new home. Depending on the location within Las Vegas, you could also potentially double or even triple your current square footage.
Many people assume that Las Vegas is only about the Las Vegas Strip, but the truth is that numerous other companies are relocating to Las Vegas, and new opportunities are emerging. While entertainment and sports are the primary industries, I recommend visiting and reaching out to a professional real estate agent to get a feel of the state.
My team and I can guide you around the city. Growing up in L.A., I never thought I'd live in Las Vegas, but I don't miss the Sunshine State at all. Besides, it's only a one-hour flight away, and the fares are typically around $100 if I want to visit.
Hopefully, you found this interesting and helpful to you. Remember, if you have any questions about this topic or real estate in general, please feel free to call or email me. I would be happy to serve as your resource for all of your real estate needs.