Buy a Las Vegas Home and Invest in Your Child’s College Education

In todays Las Vegas housing market, there are many types of investors that can benefit by the low home prices. You don’t have to be looking for a vacation home or strictly an investment property; you can consider a home for your student.

If you have a child attending UNLV in the fall, it’s wise to look near the campus for condos or homes to buy. When you have a child going “away” to college, you can opt for throwing your cash into a dorm room and board fees or you can invest in a condo or home.

Looking at the low homes prices in Las Vegas, it's easy to see that the latter may be a wise decision on your part. Most of the time, you will find that it’s cheaper to buy a home for your child and their roommates than to pay the on-campus housing fees.

For UNLV, on average, the housing fees (which must include dorm meals) for a semester run between $5,000 and $6,000, depending on the room type and number of roommates. Yearly, that is $10,000-$12,000 and does not include the summer!

Taking into consideration a home price of $200,000, with 20 percent down and an interest rate of 4.5 percent, the mortgage payment would be less than $1,000 per month. Factoring in taxes and assessments brings the total to less than $2,000 a month. If you split that between three other roommates, the answer is clear that buying a home is the way to go.

Not only will roommates help pay for living expenses, but you'll be building up equity for when the house is later sold, instead of just dumping money into on-campus housing where there will be no return on investment.

More upsides of the investment include equity, tax deductions, and perhaps a home that your child can then take over the payments on or you can move into yourselves.

Of course, the decision to buy a home rather than live in a dorm room involves more than simple economics, including how your student feels.

The advantages of off-campus housing include privacy, parking spaces, your own laundry, and a nicer location with less noise. However, the advantages for some students to on-campus living quarters could include close proximity to classes, campus services and a social, communal atmosphere.

Now is the perfect time to invest in Las Vegas property! I am Yonas Woldu, and I can help you find the perfect home or investment property in Las Vegas – or anywhere in Clark County. For the best in personalized attention when selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. I am fully committed to working with you; I will do the legwork, finding the perfect investment property for you. As investment in Las Vegas property continues to gain attractiveness, you will find that I am dedicated to helping you in every way possible.