Las Vegas

BUYING A HOME may make more financial sense than renting one

August 09, 2022
NHE

With so much more inventory to choose from,
Las Vegas is a great place to find exactly what you are looking for! 

In just two short months, there has been a significant shift to the Las Vegas real estate market. As interest rates rise and inventory grows, buyers have more to choose from.

There are incredible opportunities for both new and resale properties. Both builders and sellers are lowering prices, offering closing cost incentives, AND the all-important rate buydown which can SIGNIFICANTLY combat higher mortgage payments.Here’s a snapshot of the power of a rate buydown in a mortgage payment.

Instead of a price reduction of $10K, using that same money as a rate buy-down gives you a much better payment!

Look at the numbers below which show a savings of over $300 for a rate buy-down vs. a reduced price.

BUYING A HOME MAY MAKE MORE FINANCIAL SENSE THAN RENTING ONE

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says:

“The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.”
That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you.READ MORE

The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022.Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. READ MORE

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