Well off 24 year old looking to move anywhere. Las Vegas or Miami or else where? (real estate, apartments)
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I'm a single 24 year old male pretty well off. I work remotely and I'm clearing 130k a year. Zero debt. Investments doing extremely well but I won't touch that money. I currently live in Raleigh, NC and I'm looking to move. I love Raleigh, but I do feel like I need to explore the world while I'm young and I'm in a rare position to do that.
I'm looking for any cool place but lately I've been thinking of either moving to a state with no income tax. I've narrowed my options to Las Vegas or Miami. I'm thinking about buying a condo as my permanent address because I'll save 700$ a month in state income tax. I see no reason to live in Raleigh when I can ball out and get a beach front in Miami or a place on The Strip.
1) What's better for a young single male? Miami beach front or Las Vegas Strip? I really like being around beautiful girls, lol.
2) I'm open to living in other places such as SF, Seattle, Austin, NYC, Chicago, etc. I just don't know man. I'm trying to live life to the fullest. I wasn't even considering buying a place until I realized I'm throwing away 700$ a month in state income tax + renting.
I'm personally wanting Vegas only because the condos are modern. I feel like everything beach front Miami isn't worth the price for what you get, a 1980 apartments. I'm thinking about spending no more than 400k. I also have plans to rent my place out in the future.
If you're looking for the generic glass box new-build condos, Las Vegas will provide much more of that since most of Miami Beach has already been built out.
Population density means dating opportunities should be far better in Miami despite Vegas' reputation as a party destination. While Las Vegas has more population than Miami proper, the MSA are completely opposite. Miami is 6.7 million while Vegas is only 1.9 million.
Weather adjustment will not be as noticeable in Miami compared to Raleigh. Vegas will be like moving to an oven. Vegas also can be subject to more divergent real estate valuations when the economy tanks.
NYC is my preference of all US cities, but it's true that 130k will not be living it up in the same way, especially with tax differences and the desire to purchase a condo.
I really don't think you can go wrong if partying is your North Star at the moment. If I were you I would probably split my time between the two via short term rental or such. You should still be able to establish your residency in non-income tax states this way. But you would be paying "rent." Maybe after half a year or so you can decide where to buy. Note, condo fees in a lot of the amenity-laden buildings may be comparable to some rents lol.
Honestly, why not LA? Miami will get to feel like a drag after a while.
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