Thinking about moving to Vegas - thoughts?

In Vegas...location means everything, IMO. I live in Summerlin and would not live anywhere else in Vegas. Henderson has some nice areas as well, but I find the traffic over there can be brutal. Summerlin gives you a good suburban feel. No billboards, well landscaped, upscale and far enough away from some of the garbage that is a part of this city...and any city for that matter. Unless of course, you are looking for a true city feel. Then there are many options.

It really comes down to a personal decision, a personal feeling. I would rent before buying and wherever you intend to live....visit the closest supermarkets, Walmart, convenience stores, etc....and you will likely get a feel if you think it’s to your liking. Coming here sight unseen and buying “value” can be a big mistake.

South Texas...rural? Definitely drive around Vegas, all of Vegas before you plunk down roots. That’s what I did. No regrets. I wouldn’t trade Summerlin for any other area. But...that’s me. In the end, it’s a personal decision, personal feel. As far as living here and hitting the Strip or being close to the strip? Most locals aren’t hitting the strip on a regular basis. They know it’s a tourist trap for pricing. After a few months living here...they figure it out and it becomes similar to a guy living in Manhattan “hitting up” Times Square. IOW’s....it’s not happening.

Not rural. Corpus christi is boring. Id like to live in austin san antonio dallas.

Quote: billryan

I'd strongly suggest you rent for a year so you can learn the areas you like and dislike.

We are kicking around the idea of coming out to Vegas for a month this summer as a mini-adventure, IF I can still work remotely at that time. We would rent a condo and see how we like it.

We live closer to the east coast than the west coast, and from what I can see, it would be much cheaper for us to fly out and rent a car for an entire month than to drive out in one of our cars. And since I am still working, as a bonus it would cut down on the number of vacation days I would have to take.

Just a few random thoughts.

The income from a million dollar nest egg will be more than sufficient to rent a very nice apartment. I'd think hard before breaking it up to buy something. Maybe later when you find the perfect place but the chances of you doing that right out of the box are slim.

When I lived there, I belonged to two groups that provided free tickets to shows. For about $100 a year, I would go to two or three shows a week. Not the top headline shows, but the list was quite large and there was something for everyone.

As someone mentioned, don't worry about how close you are to the strip because your daily life will not revolve around it.

I picked Henderson and was pretty happy there. Most new development is further west or north of the strip and it can get pricey pretty quick.
Summerlin is really nice, but not inexpensive. It seems like a great place to raise a family but might not be the best place for a middle income retirement. Areas up north, but not North Las Vegas, have tremendous growth potential and are relatively cheap, but are still remote.

Best of luck.

Another thing to consider is what is important to yourself. I ended up in Henderson (Green Valley) because being close to an airport was very important to me. Although I don't travel nearly as much as I used to, leaving my house and being at the airport in 10 minutes is still huge for me. Nothing better than getting home from a long trip and getting off the plane and being home. I wouldn't want to have a 30 minute drive to get home.

Quote: Wizard

It seems a central location is important to you. That said, I recommend between Charleston and Sahara and between the I-15 and Decatur. This is an area with older houses on large lots. Not the ticky-tacky houses on tiny lots you see built the last three decades. These aren't the only old-Vegas neighborhoods, but the closest to the Strip. I'm sure some others will report these areas are higher in crime, which is true. However, burglaries are high everywhere. I tend to think most people put too much stock in crime statistics.

If you want something quieter, I would recommend the west side of town, where I live.

It doesn't have to be "that" central - remember, whenever I visit Vegas, I use the buses. Okay, somewhere near a bus line would be nice; keep in mind I will be 63 when I actually make my move.

Quote: billryan

The income from a million dollar nest egg will be more than sufficient to rent a very nice apartment. I'd think hard before breaking it up to buy something. Maybe later when you find the perfect place but the chances of you doing that right out of the box are slim.

Remember, that's a million dollar nest egg plus a $44,000/year pension plus what I get from Social Security (plus, or minus as the case may be, the difference between what I can get for my current townhouse and what a condo/apartment in Vegas would cost).

Quote: ThatDonGuy

It doesn't have to be "that" central - remember, whenever I visit Vegas, I use the buses. Okay, somewhere near a bus line would be nice; keep in mind I will be 63 when I actually make my move.


Remember, that's a million dollar nest egg plus a $44,000/year pension plus what I get from Social Security (plus, or minus as the case may be, the difference between what I can get for my current townhouse and what a condo/apartment in Vegas would cost).

So you are saying you have too much money to rent? When I was looking in 2015/2016, there were thousands of condos on the market, many had been there for 100 days or more and most of the ones I looked at were unoccupied. More importantly, few of them were selling for what they had sold for ten years before. Is something that is hard to sell and hasn't appreciated in a decade a good use of your nest egg.
I'd rather have my money out working for me instead of being tied into where I sleep. Others are different. What I do believe is that the people who stress the joy and pride of homeownership are usually the ones trying to sell you one.

Quote: jqneedareset

We are kicking around the idea of coming out to Vegas for a month this summer as a mini-adventure, IF I can still work remotely at that time.

I may need to accelerate the timing. There is probably a good chance that I will be told to be back in the office when summer rolls around.

Careful with buying condos. A lot of investors poured in and bought up a lot of condo units during the financial crisis. The end result is a lot of developments got ruined as they became “rent to any warm body”. Renters have no “skin” in the neighborhood....and it does show.

This is why some HOA’s have requirements about how many units can be rented in a particular neighborhood.

You need eyes in the back of your head and you better do some due diligence before buying anywhere in Vegas.

Quote: billryan

The income from a million dollar nest egg will be more than sufficient to rent a very nice apartment.

What type of income are you referring to?

The current interest rate is essentially zero, and around negative 2% adjusted for inflation

It’s gotta go back to a normal level some day but we’ve been at this level for over ten years. Could be another ten