Where does one vacation when they live in such a vacationer’s dream state like California? Well, Las Vegas of course! Only a 4-hour drive from Los Angeles, Vegas is the perfect place for California residents to get a long weekend away. So, why not purchase a second home in Las Vegas?
Find Some Profit by Owning Real Estate in Las Vegas
Property values in California are among the highest in the United States. Las Vegas, in comparison, is rather affordable for property owners. Californians can use this to their advantage by securing a second mortgage or a home equity line of credit against their principal residence to purchase a vacation home in Las Vegas. Taxes and association fees are also far more affordable in Las Vegas than most parts of California, so annual maintenance will not bleed the purchaser dry.
Since Las Vegas gets travelers year-round, the investment would not need to sit idle while not in use by the purchaser. A second home could easily be rented out to vacationers while not in use by the owner. The rental income would have the potential to pay the annual fees associated with ownership and could even net the owner a profit. There will always be vacationers seeking a place to stay while in Vegas, why not make a little extra money by being a property owner? And when renters do not occupy the place, all you have to do to get away for the weekend is drive there!
Have fun at a Moment’s Notice
Why leave the beach setting to go on vacation when so many flock to beaches for their summer getaway? Well, if you’re surrounded by the beach all year it’s likely to lose some of the appeal. Las Vegas has the thriving night life appeal of gambling and the party scene. It’s nice for anyone to get away from their daily lives, even if they are surrounded by pristine beaches year-round. Having a change of scenery is good for anyone every once in awhile. A few hours drive and you get to see the desert instead of the coastline.
It makes financial sense to invest in a home in Vegas if you plan to travel there more than once or twice a year. Staying in hotels and rental properties can be such a hassle. You have to find the place, check in, check out, be careful to make sure you don’t forget anything. All this planning eats hours away from your get-away. If you own the place, you can keep your Vegas belongings there and spend hours less on packing and unpacking. Plus, you can already have supplies on hand and not worry so much about leaving anything behind. It would also be possible to travel with pets, a major headache for many vacationers.
Given that property values are significantly lower in Las Vegas than California and it’s not too far of a drive for most Golden Coast residents, it seems like a foregone conclusion that second home ownership in Las Vegas is worth the time and yearly maintenance cost. After all, who wouldn’t want to use the equity in their main residence to fund a fun getaway?