The economy’s outlook is optimistic! There are growth and expansion everywhere you look. Fox Business News rated Nevada the #4 Best State Economy on 12-9-19. In 2020, it’s become a challenge, and recovery continues.
Housing appreciation has stayed strong due to people wanting to live in Las Vegas. Las Vegas is still considered “The Land of Opportunity.” even with challenging times. What makes the city different is that Las Vegas is a great vacation and weekend destination within driving distance from 8 major cities.
9. Everyone Will Visit You Here
With over 42 million visitors in 2019, chances are that you have friends who are among them. If not, they’ll visit within the year. For New Year’s Eve, when there isn’t a hotel room available, you may have a full house. After 33 years in town, I now go to bed at night and give our guests my car keys. How many times can you tour Hoover Dam in a year or watch the Bellagio Fountains?
Las Vegas enjoys minimal traffic, beautiful roads, inexpensive airfares and rental cars, and inexpensive airfares. The economy in Las Vegas thrives in part because of airline partners. Out-bound and Incoming airfares are less than almost every other airport in the country. Go online and compare flying from Las Vegas to X compared to Los Angeles to X, and Las Vegas will be less.
Las Vegas enjoys a “lower than national average” cost of living. All local casinos have an “Over 50” day. Residents over 50 years old enjoy deals, promotions, and $4 movie deals. With 1/3 of the city’s population over 55 years of age, senior services are offered by just about every business. Medical facilities are grouped every few miles near the valleys 11 largest hospitals. Numerous senior citizen centers and retirement community centers offer classes, groups, and activities.
Retirees mainly like living here because there’s always something to do, and it can be quite affordable. There are over 15 large 55+, security conscience neighborhoods. Amenities in these communities include recreation centers, pools, classes, clubs, games, and golf. Nevada’s tax benefits give many people a large raise- there’s no State Income Tax or Inheritance Tax.
All of the Famous Chefs in the country have a 5-star restaurant on The Strip. Recreation is abundant. There are 36 Showrooms at hotels and 7 arenas or stadiums. Sports have arrived in Las Vegas! Take your choice of a NASCAR race, hockey with the Golden Knights, Women’s Basketball offers The Aces, and for soccer, we have The Lights. The new Ballpark in Summerlin is home to the Aviators, and Allegiant Stadium is home to the Las Vegas Raiders and the UNLV Running Rebels. Which sport is your favorite?
Every entertainer, band, and show wants to have a show in Las Vegas. Do you like to shop? Las Vegas has it all. Drive fast cars, zip-line through the Fremont Street Experience. Hike in Numerous National and State recreation areas. We have the largest human-made lake in the U.S for water fun. Take a helicopter ride or go to the casino- there’s always something to do!
Top 5 Reasons
Nevada’s residents have the 8th Lowest Tax Burden in the U.S., according to Money Magazine. There is No State Income Tax! No Inheritance Tax, NO Gift Tax, and NO Corporate Tax. There’s an 8.375% Sales Tax, and Property Tax is just under 1% for residents.
Every hotel room is credited with 2.5 jobs- 1 within the hotel/casino and 1.5 within the community. Major industries include medical, manufacturing, construction, and technology. Infrastructure, flood control, and air travel.make our lifestyle work better. Conventions, sports, and gaming add a lot of jobs. They all support many other industries.
With 3 Incorporated Cities in Clark County, they all employ many people. There are 150,000 hotel rooms in Clark County, and 10,000 new currently rooms scheduled to open in 2020-2021. Over 5M square feet of factory/warehouse space opened in N. Las Vegas in 2019- about 2000 jobs. There is a serious shortage of medical personnel and teachers! Amazon and Google opened another large facility in 2020. There are many jobs despite the pandemic.
The Las Vegas Valley averages 310 sunny days a year and 26.5 rainy days with a total annual rainfall of 4.2 inches. The coldest month is December, with an average high of 56.7 and a low of 38.7 degrees. The hottest month is July with an average high of 104.1 and a low of 81 degrees. There are no tornados, hurricanes, tsunamis or wildfires. We do have wind but nothing extreme. As a So. Cal. girl, I know earthquakes. Since I moved to Vegas in 1993, I’ve felt 5 that were barely noticeable.
Las Vegas Valley is geared toward families, retirees, and singles. The strip is not where we live- but we can visit. There are variety and diversity everywhere you look. The Valley has many great schools – opening 1 a month for the last 30 years. Neighborhoods have fabulous parks with amenities and walking trails. Specialized sports-themed parks and bicycle paths. Communities have large recreation facilities with events and organized sports. The Library System is one of the best in the country. With eclectic shopping, over 500 churches, a city choir and orchestra, plays, cultural events, dancing, gyms, museums, and professional sports, you’ll never get bored! Our family loves all the fun and unique things to do and the unique places we can celebrate birthdays.
The Number 1 Reason To Relocate To Las Vegas
The Las Vegas Valley has 5000 people a month relocating to it because of the thriving economy, and a third of those people are from California. A BIG reason they move here is the cost of homes. You can buy a nice brand new home in Las Vegas for under $300,000. Pre-owned homes start around $200,000. A $500,000 house is fabulous. You can buy land and build a custom dream house for under $1M.
Lifestyles offered in Las Vegas are as diverse as the number of homes for sale. Live in a new and fresh master-planned community. Enjoy space and a bit of luxury in custom homes on 1/2 acre or greater lots in a Rural Preservation Neighborhood. Ride horses or enjoy the relaxation or soak in the beauty of living in a golf course community. And views are of the city, red rocked mountains, lake water, and golf courses. Depending on which area you choose to live in, the median price of homes is +/- around $300,000.
The Las Vegas housing boom continues. You can move into a great house in the Las Vegas Valley and enjoy over 300 sunny days a year. Bring Mom and Dad to town to live in a fun, affordable, active adult retirement community. With multiple businesses hiring, employment possibilities are looking good! Be warned; everyone will visit you frequently because there’s always something to do in Las Vegas!
Since you’re no longer paying State Income Tax, you have approx. 10% more money to spend traveling, eating out, going to shows, or saving for the kids’ college and your retirement. You’ll spend less time commuting and more time walking, hiking, and enjoying social activities. What kind of lifestyle do you want to have in Las Vegas?
Give us a call today and start planning your transition.
Call Terri and Kurt Grosse at Realty One Group at 702-750-7599
This blog was written by Kurt Grosse. Kurt is a 25 Year Las Vegas Realtor, and Former Nevada Building Engineer called “The Protector” for a reason. In Southern Nevada, builders and homeowners pay for you to have Buyer Representation without affecting the cost of the home. Get the best Las Vegas Realtor on your team. With how quickly homes are built in Southern Nevada, his services are invaluable!
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Link To: Areas of Town, Summerlin, and Green Valley Info Pages with Home Searches