Tuesday, September 20, 2011

New Homes in Las Vegas Under $70 per foot!

Who says you can’t buy brand new homes in Las Vegas under $70 per foot?! We get inquiries all the time from investors who are looking to purchase “fixer uppers” in this price per foot range. True, you can get more slightly square footage for a slightly lower price on resale homes that need some cosmetic help, but once you put the pencil to the paper, new homes can turn out to be a better value.


For example, take a typical 1000 square foot home for sale (built since the year 2000 to compare apples to apples) that just needs carpet, paint, and other minor TLC priced at $50 per foot. (Usually the landscaping on even cosmetic fixers is also dead, but since you have to put in landscaping on a new home, we will call that a draw.) Generally speaking, it will cost about $20k to do a basic rehab on the home without going crazy.

Now the price of that $50 per foot fixer has just gone up to $70 per foot, ($20k divided by 1000 sf = $20 of rehab per foot plus the original $50 per foot purchase price) and the color of cabinets and countertops may not be what you would have chosen for yourself. And since most of the MLS listings in Las Vegas are sold “as is where is” in today’s market, you have no recourse later if you find other problems with the home.

With a brand new home, you get to pick out all the options to suit your taste. Most of the new home builders are offering an astonishing array of “upgrades” included in the base sales price (granite counters, etc.) that were costly add-ons in previous years. If the home hasn’t been started yet, you can even choose what lot you would like it put on. (Many Las Vegas new home builders are now waiting until the buyer picks the lot to start construction, so this is a very realistic expectation.)

So not only may the cost end up being close to the same as that “fixer” without all the headaches of doing the fixing, but you also get a home with all the new home warranties and latest energy saving technologies in nice new neighborhoods without other fixers down the street.

To view a list of 47 new homes and their floor plans priced at under $70 per foot in the range of $95k to $300k, go to: New Homes Under $70 per foot. Then give us a call at 702-985-7654 to arrange a viewing!

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