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Nearing retirement AND beginning the house hunting process can be an exciting and overwhelming. You’ll need to consider what city is best for you, decide what sort of house is most appropriate and get your finances in order.
If you’ve settled on Las Vegas as your top destination, you’ve made a great choice!
Sin City, as it’s sometimes known, offers much in the way of glitz and glamour, but it’s more than just casinos.
Las Vegas offers many outdoor spaces to enjoy the sunshine and warm days - which is just about every day in Las Vegas! Living there means you’re also within driving distance of natural wonders like the Grand Canyon, Lake Powell and Bryce Canyon National Park. A trip to Los Angeles is 45 minutes by plane and 4 hours by car.
Las Vegas has the combined benefits of both a town and a city. The worst rush hour typically adds no more than 15 minutes to your commute. You can live as though you’re living in a town. There are regular homes, malls, neighborhoods, golf courses, places of worship. A quick Uber or Lyft puts you into the heart of some of the nation’s finest and most well-known restaurants, world class entertainers like Lady Gaga and Tony Bennet, James Taylor and Jerry Seinfeld and professional sports events.
Of course, we all know that life isn’t just about having fun. Budget, access to healthcare and other needed services are important to consider when buying a home. Having an experienced, local Las Vegas real estate agent can help ensure your needs are met, every step of the way.
Below you’ll find a few things you should know and discuss with your real estate agent about house hunting in Las Vegas:
If you're looking to buy or sell a home - allow me guide you every step of the way.
I'm always available to answer any or your real estate questions whether or not you're looking buy or sell right now.
Your Future Budget Is as Important as Your Present Budget
Old debt is a budgetary concern many retirees face as they settle into their Golden Years. Moving to a fixed income situation may mean debt payments could become more difficult for you. And many seniors find the cost of healthcare to be a burden as their health needs become more complex with age.
It’s important to get a true sense of your financial situation before having your heart set on a property. Some steps you can take to that end include:
For retirees who want to stretch their retirement dollars as far as possible, Las Vegas is a great choice. According to consumer finance company SmartAsset, the state of Nevada is very tax-friendly toward retirees. This means you can expect your money to take you a long way in Las Vegas, which can help ensure you can live life comfortably during your Golden Years.
Additionally, there is no state income tax for people who live in Las Vegas, which means if you want to continue working during your retirement, you will be able to keep all your earnings in your pocket. Social security income and income from other retirement accounts are also untaxed, which is good news for any senior planning on surviving on just their fixed income during retirement. There is no estate or inheritance tax, either. The tax system is simple and fair for retirees.
Accessibility and Health Should Be Built Into Your Home
One of the things that make house hunting for seniors a little different home house hunting for younger people is the concept of aging. Although you might be fully capable of running your own home right now, the reality is that your needs are going to change as you continue to age. Your next home should theoretically be one you can stay in for a while. Mobility limitations are one of the key factors you’ll need to consider when selecting the best home for you. The number one mobility issue affecting seniors is falling, which can cause serious injury. Other home amenities your real estate agent can help you look for that can help keep you safe include:
If your health, mobility or accessibility issues are more than you think you could handle on your own, it’s important to know you have many different senior living options in the Las Vegas area.
Have any questions? Call me at (702) 521-5650 to begin discussing the path to your dream home. The Alison Rachiell Team is made up of experienced Realtors who know Las Vegas - we are all natives to the area and have a deep understanding of life here. We are committed to ensuring any real estate decision you make is both personally satisfying and financially responsible - we won’t let you down.
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As an active member and leader in my community and given my background in teaching and working with real estate professionals, it was a natural fit for me to become a Realtor.
I love applying my knowledge to help my clients as they make the largest and most important investment of their lives. I pride myself on listening to my clients and always keeping their best interest at heart. I will never forget my first clients who were a teacher and her husband. They were the first people in the Las Vegas Valley to use the special program for Nevada's teachers and wouldn't have known about it if I hadn't told them about it. They were thrilled to get Ten Thousand Dollars and a special low interest rate to buy their home! I will never forget the humongous smile on my client's face as I handed her the key to her first home. There was so much pride and happiness flowing from her. It is that feeling that I strive for with every transaction!
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