Most people purchase homes because they want to build a nest, put down roots and practically speaking have a roof over their heads.
But homes are also a major investment. Looked at that way, how long does it take to get your money back?
Zillow just answered that question for Las Vegas homeowners. For the fourth quarter of 2015, Las Vegas homeowners would have to stay in their homes 1.7 years after they purchased it to break even. Up until then, it's cheaper to rent than own.
At 1.7 years, Las Vegas ranked 25th out of the 35 cities Zillow tracked for its Breakeven Index.
How did the best? Dallas and Indianapolis tied at just 1.3 years. Washington, DC brought up the rear at 4.5 years. The national breakeven was 1.9 years.
Hey, it will take you more than two years to discover all the fun things to do as a local in Las Vegas!
Here's a great reward for this horrible election season. If you voted,
"Working with eXp Realty was a pleasure. When we started, we had no idea what we wanted, but our buyer agent helps us figure out the pros and cons of all our options. Our agent went the extra mile willing to put in the extra effort to answer our questions, to make sure we were happy with our decisions, and educated about the market and local area."