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Purchasing a home is a significant financial investment, and as a result, can be a highly stressful experience. Thinking of buying a Las Vegas Condo? Here are some simple questions to ask yourself when buying a Las Vegas condo:
1. Where do you want to live? What part of the city best suits your lifestyle? How will you get to work? Are there schools nearby? Where can you shop? The answer to these questions is also the answer to the first question of home buying-- which is "Where"?
- Downtown - Also known as "Old Las Vegas", this area was the first part of Las Vegas to be developed, and currently undergoing redevelopment. It is nearby the growing Arts District, a host of new restaurants and bars and more. Hotels and casinos include The Plaza, Horseshoe, El Cortez, Fitzgerald's, Four Queens and the Golden Nugget.
- South Strip - Anything on Las Vegas Blvd. south of the Tropicana still gives you a Strip address and is located next to a hub activity. Called "New Vegas," the South Strip is an area of booming development. Many new casinos, shopping meccas and restaurants are coming to this area including Town Square, M Resort and a hefty expansion to the Silverton.
2. What type of Las Vegas Condo do you want to live in?
After location, the next decision you'll have to make is about the kind of space you want to live in. There is a world of options to choose from, including high- rise, low-rise and town homes. You'll also need to think about the combination of rooms and living spaces that would best suit your needs. Do you need one bedroom, or more? What is the best type of layout for you? What direction do you want to face and how high up would you like to be? What types of amenities are you most interested in?
ONE Las Vegas offers some of the most innovative floor plans available. We offer over 17 different floor plans and numerous amenities that making the property more like a resort. Take an interactive tour of each floor plan at Las Vegas Condo Floor Plans.
3. How much do I want to pay?
To answer this question, you will first need to determine how much you can afford based on the location and the type of home you want to live in. Figure out an appropriate down payment and your mortgage carrying ability. You will need to add these numbers to all other loan expenses you might have as well as your total average monthly expenses. The sum of these numbers needs to be an amount that you can comfortably cover within your available financial resources.
4. Do the research!
Although there are many reputable builders in the Las Vegas, you will need to take some time to determine which builder you have the greatest confidence in. Check out various web sites, drive by locations and meet the sales representatives. Learn about a builder's reputation through someone who actually lives in one of the buildings they have developed. Find out about the level of experience they have with the type of building you want to move into.
5. How do I make my purchase?
The home purchasing process starts with signing the Agreement of Purchase and Sale. Because it is a legally binding contract, review it carefully. Not only does this agreement include the purchase price, it also includes terms and conditions that will apply to the transaction, a description of how the purchase will be financed; the closing date; the date possession will be delivered to the buyer; pre-delivery inspection and other contingencies.
Disclosure Statements and Condo documentation (by-laws, rules and budget of the condominium corporation): The disclosure statement and documentation encapsulates all the important information about the condo you are purchasing. You will need to make sure you read this document very carefully.
If you can't answer all of the questions right away its ok. Just know that by reading this article you are on the right track and that only you will know when you feel comfortable making a condo purchase.
Thanks for your interest and if you have any questions or comments feel free to call or write us:
Phone: (702) 444-4321
Email: info@one-lasvegas.com
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