Diary of a Las Vegas Professional Realtor - Day 18

I found the best deal with new homes in Las Vegas with Richmond American Homes. There are several reasons why this is the best deal for now.

*Builder offer 5% towards closing cost. This will lower your monthly payment.

*Builder pays for home inspection, home warranty, HOA doc fees thus no out-of-pocket expenses except for appraisal fee of $450. Buyer saves a total of $900.

*Builder offers $7,500 towards upgrades. This can be applies to adding a bedroom for certain models, adding granite, stainless steel appliances, oak railing. Buyers can pick and choose upgrades for the home.

Here is a comparison of purchasing a bank owned home vs. a new home.

*Monthly payment for a $150,000 bank owned vs. a $165,000 new home is a difference of $15 a month

*Paying $5,600 in closing cost for bank owned vs. $0 for new home

*Paying $900 more buying a bank owned vs a new home

*20% downpayment is $3,000 more for a new home than a bank owned because of price points

*Both homes will rent for an average of $1,200 monthly in Las Vegas