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!
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
How do you define Success? I think I know!https://youtu.be/sbC4B
"Hey Jake, working with you has been fantastic. You really helped make the stressful burden of buying a house a breeze! My wife and I were always impressed by the speed at which you could obtain information to any of our questions. Even helping us find someone trustworthy to get estimates for pool equipment. We can't thank you enough for helping us find the house with the layout we wanted in the area we wanted and making the purchase process so easy!
Jason and Rachelle Johnson"