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!
The Marjorie Stoneman Douglas High School's survivor's March
"Thank you for keeping me up-to-date with your real estate newsletters. Let it be said its nice to know there are realtors out there like Sheila who look after the interest of their clients! Your integrity is your strength and I had no doubt that I could trust you as my realtor. Thank you for everything!"