Condo – Townhouse Living may be just what you’re looking for. A single-family home is not right for everyone. A condominium or townhouse is a great alternative for people with a ‘Lock and Leave Lifestyle’ and people who want minimal maintenance while still having great amenities.
There are many differences between a condominium and a townhouse. The biggest difference being that in a condominium, you do not own the exterior of your building. You own the air space and the interior of your home. This means that if the roof or an exterior wall has an issue, the association handles it. Some condominiums have garages, but most don’t.
A new attached home trend is coming to Las Vegas. We sold a new construction condominium a couple of months ago with a backyard- a patio cover, patio, and landscaping. Before that, I was not aware of a condo complex with a yard in Las Vegas.
For condominiums (not townhouses or patio homes), financing is completely messed up. It can be challenging to get a loan with less than a 10% down payment. Conventional loans are readily available with a 10% or more down payment. Some neighborhoods can qualify for FHA or VA financing. It is best to have us work with the lender to determine what types of financing are obtainable. Townhouses and patio homes can still have a low 3.5% down-payment with an FHA loan. Please don’t ask us why, but this is the way things are, today.
Typically a townhouse will have a garage and can be a one or multi-story building. With a townhouse, you own the building and are responsible for acts of god and maintenance. Very often as part of the HOA dues the association will maintain the exterior of the building, A townhouse can also have a yard. Townhouses are connected and can have multiple units in a building.
In Las Vegas, we also have Patio Homes. A patio home is a type of townhouse. It is a one-story building with 3 or fewer units in a building. A homeowner is responsible for the maintenance of their units. As with townhomes, as part of the HOA dues, the association will maintain the exterior of the building.
A golf villa is a fancy name for a condo or townhouse that is on a golf course. I think the term “Villa” means they can charge more. Golf Villas also are luxurious and usually have a great golf course view.
High Rise and Mid Rise Condominiums
There are over 20 high rise condominium towers on or near the Las Vegas Strip. Summerlin has 2 towers at One Queensridge. There is a lovely high-end tower in the financial district. Mid-rise buildings are in Downtown Las Vegas, the south strip, along east Flamingo, The District in Henderson, and some are in Summerlin. The below searches will include high and mid-rise buildings. However, you can search by individual buildings for these on our sidebar.
For the purpose of these searches, we have clumped condo – townhouse – villa, and patio homes together. When you know what you want or find looking too time-consuming, contact us to search for you. We can save a search, and whenever a new property becomes available, you will be emailed automatically. Feel free to contact us with questions or for assistance in getting financing together.
You can revise any search on our site to your criteria in the top right corner of the results. See 12 Condo Searches Below.
This website and information are made available for you to explore by Kurt Grosse with Realty One Group. Kurt is a Las Vegas Top-Producing Realtor since 1996 and a Retired Building Engineer (P.E., C.E.). His goal with his buyers and sellers is to use his skills and knowledge to protect them in this ever-changing Las Vegas Real Estate Market. With how quickly homes are built in Southern Nevada, his skills are invaluable.
We Sell Las Vegas, Henderson, and North Las Vegas
Call or text us today with any questions or for an appointment to see some of these great homes- 702-750-7599
Every condo – townhouse will have an association fee. Each development is different, but the fees usually cover water and trash, gates (guards if applicable), and common areas. Of course, these fees vary according to amenities offered by a community. We’ve seen association fees as low as $125/mo up to $2400 a month for a luxury high rise penthouse.
In Nevada, there is a state governing office- The Ombudsman Office if there is ever a problem. The Ombudsman Office is run through the Nevada Real Estate Division. We have heard good things about them, so if you need them, there are there.
The 1999 Legislature voted to have a department to assist homeowners and board members in communities with an association board of directors. They assist with complaints by investigating and helping with legal paperwork if necessary. Homeowners in any association actually pay “less than $4.25 a year” to have this department work for them through their annual property taxes.
The Ombudsman’s Office regulates how associations are to be run- mainly, they try to keep an association complying with state law and being consistent with homeowners. An association must treat all residents equally.
Call our office today with questions or for an appointment to get you into your new home – 702-750-7599.
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