When people think of Las Vegas, images of sparkling casino marquees and enthusiastic visitors rushing along South Las Vegas Boulevard come to mind. But there is a softer side to Vegas that gets overshadowed by the glitz and glamor. Just beyond the city’s gambling hub, the landscape of Vegas transitions from high-rises to quiet suburban houses with charming front yards.
If you’re thinking of buying a home in Las Vegas, you’re presented with two unique options: are you bound for city living, or are the suburbs your cup of tea? Here are some things to consider when you are trying to decide.
The Las Vegas lifestyle isn’t all tequila shooters and feather boas. College students and families alike have found happiness in the desert. The cost of living index in Vegas is on par with the national average, — compared to a city like San Francisco, which is double the national average.
City: If you live in the city, you will have dozens of restaurants to choose from (all within a few blocks), the best entertainment in the world just a short cab ride away, and nightlife that doesn’t turn down until the sun comes up. New condos and apartments continue to rise on a regular basis, some of which are in neighborhoods with tons of personality like the Arts District.
Suburbs: The lifestyle in the suburbs caters to people who want a little more space and a quieter neighborhood. You’ll still be within a short drive of Downtown Vegas and The Strip, but living in a planned community with parks and bike paths means less tourist foot traffic.
The Las Vegas real estate market is ripe for the picking. Thanks to real estate developments rising across the city, now is a good time to invest.
City: The city neighborhoods in Las Vegas are especially good for young professionals looking to invest in property. The Fontainebleau project is back on track, and the Resorts World Las Vegas hotel is also progressing at a rapid rate. All in all, there are billions of dollars in development projects taking place near The Strip and Downtown areas. These rising construction projects make city living a particularly good financial investment in Vegas, especially if you want to see fast property value growth over the next few years.
Suburbs: Buying a house in the Las Vegas suburbs can also be a good investment. From January 2017 to January 2018, the average home in the Greater Las Vegas area increased in value by about 15%. The demand for housing may not be as profound the farther you are from the city’s newest amenities and buildings, but you may still see some slow growth in your home’s value.
Your commute can be an important factor when choosing where to set down roots. There are several options wherever you buy a place in Las Vegas, but you’ll have an easier time being car-less living in the city.
City: Las Vegas has a monorail that runs up and down The Strip, and it’s free to catch a ride. There is also free parking at most casino garages, and there’s no shortage of yellow cabs or rideshare services operating throughout popular areas like Downtown. Depending on where you live in the city, you may not need a car at all.
Suburbs: Living in suburban Vegas means that you will be reliant on a car. If you don’t mind having your own set of wheels, living in the suburbs won’t be an issue. With more space at home, you’ll likely have a garage or driveway to park your car. Suburb living is also convenient for people with big SUVs or multiple vehicles.
Who could blame you for wanting to live in Las Vegas? With plenty of amenities and a cost of living that beats big cities in California, Vegas is becoming more and more appealing to everyone — from millennial first-time buyers to families who need room to grow.
If you are looking for a quick return and a fast-paced life, then living in the city will be a great fit for you. Contact Sky Condos today to get a tour of their facilities and see if living in the heart of Las Vegas is in the cards for you.