The Allure of New Las Vegas Homes
Despite below-market rates of foreclosures, many of those looking forward to buying homes in Las Vegas are still considering new Las Vegas homes. Taken for its price, foreclosures would seem like a great investment because homeowners would often find themselves being able to buy a large house in a nice neighborhood that they would not have been able to afford. Yet, as the buying process progresses many of these homeowners find themselves facing surprises that are enough to put a hole through their pockets. Repair costs tend could be high and they also have to put down a large amount at closing time.
As opposed to foreclosures, new Las Vegas homes provide warranties and it helps homeowners to make out-of-pocket expenses whenever structural defects needing repairs are found. Because even though homes are new, there might be instances when structures break especially during move in when large or bulky furniture are being brought in. Warranties usually cover for structural defects, material replacements/repair and workmanship.
Another allure of new Las Vegas homes is that they are available for occupancy right away. Because these homes are already structurally finished and without occupants, new homeowners will just have to schedule a move in at any time that is convenient for them. This is far from the long waiting time for foreclosure deals such as short sales would be approved, the old homeowner to move out and for repairs would be finish.
Homeowners who buy New Las Vegas Homes also benefit from several incentives. These incentives can come from anyone of the key players of closing a real estate deal and these incentives tend to vary as well. The more common is the 1% cash back that the developer gives home buyers. Some brokers also provide home buyers 3% refund on the home price up to a certain amount limit. These incentives are usually released as early as four weeks after closing.
Another monetary value that buyers of new Las Vegas homes will benefit is energy savings. Since light fixtures of new homes are new and often those with energy efficiency rating, homeowners can save a lot on energy consumption compared to using the older light and electrical fixtures of an older foreclosure home. And not only will this be easier on the pocket, this also helps save the environment.
So despite the bargain prices of foreclosures, the allure of new Las Vegas homes still prevails for prospect buyers looking forward to investing in real estate in this lively city.
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