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New or Built 10 or 15 years ago? what is preferable?

I have a sum-total of 200K dollar and willing to buy a house in Las Vegas NV.
I just can't decide because sometimes there are Beautiful big and in a good neighborhood houses; at the price i can afford;only they were built 10 or 15 years ago and i am afraid the value will drop ! what do you conseil? I need an advice from Zillow
because i aw they are given a lot of information and take in consideration all the parameters.
Please excuse my English,  It's not my mother's tongue. i live overseas.
Thank-You
  • June 27 2014 - Henderson
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Answers (1)

I purchased my house in 2008 thinking the market could not go down after the 2006 decline.  It did, but not as bad.  I think you are buying at good time right now.

I still have a couple houses in Henderson Nevada.  The Asian and Mormon community see Las Vegas and Henderson as long term places to live.  The Asians because is proximity to California and the mormons being so close to Utah and some long time community leaders in the Henderson area.

It boils down to looking at smaller HOAs. I wouldn't buy new because they are the most riskiest properties to own.  We still have older inventory to get through.  The bankers are holding on to foreclosed properties because they see the area as a good investment.  Larger planned communities have big problems because they usually are full of vacant homes and homes for sale.  Strategically get into a neighborhood where the inventory is small, good schools and people are long term residents of the area.

It cost more to build new right but some people just want a new home.  If you decide to build, you should have a ten year horizon.  If this is an investment decision, then seriously consider why you are buying a house.  How much do you really know about Southern Nevada.  If you are going to buy into an area, you should live there awhile to really learn about the market.  Plenty of houses you can rent.  If you don't plan to live in the area, I would not invest in the area.  You will get burned since you don't understand the market.
  • June 30 2014
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