[Packrat1]

A good question to ask might be what options/improvements actually would be detrimental to resale in 5 yrs. I would say top of the list would be painting the children's rooms or any other room in anything other than a neutral color. Cabinets and appliances that are decent quality and colors that have wide appeal is important.

Neutral and decent quality carpet or tile should be used. Also dog or cat odors on carpet since you probably won't be changing carpet in 5 yrs are especially detrimental.

If your yard has grass and it's destroyed by pets plan on replanting many months before to make it look nice when you sell.

[Holycoooooow]

Originally Posted by ddrhazy

If you know you are not going to be living in a property for more than 5 years than renting is the best choice for you.

Originally Posted by Packrat1

A good question to ask might be what options/improvements actually would be detrimental to resale in 5 yrs. I would say top of the list would be painting the children's rooms or any other room in anything other than a neutral color. Cabinets and appliances that are decent quality and colors that have wide appeal is important.

Neutral and decent quality carpet or tile should be used. Also dog or cat odors on carpet since you probably won't be changing carpet in 5 yrs are especially detrimental.

If your yard has grass and it's destroyed by pets plan on replanting many months before to make it look nice when you sell.

Thank you. Yes we plan on spending a lot of money on upgrades and having aritificial grasss in the yard for our kids. I guess how we choose the finishes will matter more than the name of the builder we go with...

[airics]

Originally Posted by 08grad

Only if you think the market has reached its peak, otherwise you're potentially losing out on a ton of equity.

I don’t think the market has hit the peak but I definitely think it will flatten over the next couple years. It also depends on price point. If you’re thinking 500k or more, I’d be very careful. It will be interesting to see the strip casino revenue for the next couple years.

[ddrhazy]

Originally Posted by 08grad

Only if you think the market has reached its peak, otherwise you're potentially losing out on a ton of equity.

Many realtors are saying that the days of appreciation over 5%/year for LV is over. You could park your money in an S&P index fund and probably come out ahead. Most rentals monthly rent will be lower than it's mortgaged comparison. The first 5 years of a mortgage goes mostly to interest so you're not building equity in the property either. Then consider the commission you must pay when selling. Seems better to me to rent in this situation if you know you will not be living in the property for more than 5 years.

[airics]

At 5 years, I would confer renting also.. I wouldn’t have paid the 385; I got for my house in June. Great time to sell. Bad time to buy.

[Holycoooooow]

Originally Posted by airics

I don’t think the market has hit the peak but I definitely think it will flatten over the next couple years. It also depends on price point. If you’re thinking 500k or more, I’d be very careful. It will be interesting to see the strip casino revenue for the next couple years.

$500-650 was our price point is there a reason to be wary?

[airics]

Originally Posted by Holycoooooow

$500-650 was our price point is there a reason to be wary?

Don’t expect a huge return... if you buy at 500, by the time you pay interest and realtor fees, you haven’t made much if anything. I would not drop money in upgrades. If you are buying new, it’s even worse. 500 new gets you..2500sf no pool no lot...

[MoniqueWilliams1]

Originally Posted by 08grad

They're all great communities that will hold their value better than other parts of Vegas.

My issue with Summerlin is that there's plenty of land to the west where they can and will expand to. Inspirada has that same issue to the south, and you get crappy HS zoning (Liberty not Coronado). Even if you don't have children, HS zoning matters when it comes to resale.

So I would vote for MacDonald Ranch and Anthem, as they're are already built out with the exception of million dollar homes in the mountains.

The concerns with those communities is that Anthem isn't convenient to 215, and MacDonald Ranch has a ton of apartments/condos on its borders (Eastern and Horizon Ridge).

Howard Hughes and Discovery Land are going to be developing subdivisions the likes of which Las Vegas has never seen. These developments are all going to have lots starting above $5,000,000. This demographic will continue to elevate Summerlin’s schools and amenities. As great as Summerlin is now it will be even better in ten years. If I could afford Summerlin, I would buy there in a heartbeat.

[08grad]

Originally Posted by MoniqueWilliams1

Howard Hughes and Discovery Land are going to be developing subdivisions the likes of which Las Vegas has never seen. These developments are all going to have lots starting above $5,000,000. This demographic will continue to elevate Summerlin’s schools and amenities. As great as Summerlin is now it will be even better in ten years. If I could afford Summerlin, I would buy there in a heartbeat.

People who buy million dollar homes aren't sending their kids to public high schools with class sizes over 40 and average ACT scores below 20.

[Princeton1990]

Originally Posted by Holycoooooow

Pulte Reverance right? We LOVED The models there but I’m unfamiliar with the elementary school that it is zoned for (Lumis) as well as the middle and high schools...wasn’t sure if that would affect its value in the future.

Is there a website or a map that shows where these future shopping/dining plans will be located in the future?

My boss, a senior executive at a major gaming company, raves about children’s education at Lumis and Becker. His oldest is also went to Lumis and Becker and is now excelling at West Tech.

Summerlin.com has the maps of future development. The partnerships with Discovery Land Company were just approved last month by the Las Vegas City Council.