[helllo2010]

We’re in desperate need of advice and we were recommended to this site. We're looking to buy a home in the Red Rock area; however, they’re hard to get. We came with a crazy idea and just would like to know if is totally insane or somewhat doable. We were thinking of buying a lot for now and start building next year. The Ridges area has lots in the 300's rage. How expensive is to build? (Our budget is 600,000+lot) utilities? Permits? What other expenses will we encounter? Does anybody know if we have to use their own contractors and architects or they allow different ones? Do they give a time frame to build? (just in case we run out of funds and might have to stop) This has been our eternal dream!![/font]Thank you for any and all advice is great to be able to have forums such as this one.

[airics]

you are crazy to build or even consider a new home in that price range.. they are still going to fall in price

[Spraynard Kruger]

You will be able to use your own architect and licensed builder. Generally, there is a 4 year window to build once you purchase the lot and a specific time frame for construction to be completed by once you start, but each custom neighborhood is different. You would be best served to contact the Ridges sales office directly. You want to pair with an architect that partners with experienced local contractors and knows how to communicate in a way that you enjoy (less change orders).

Different architects are not only allowed, but encouraged. Richard Luke is my favorite and one of the more famous local residential architects. He has been designing custom residential and light commercial for over 25 years.

And Red Rock and the Ridges area are not exactly difficult to find if you prefer resale.

[helllo2010]

"you are crazy to build or even consider a new home in that price range.. they are still going to fall in price"

That is why is such a difficult decision, but we're afraid if we wait longer lots might go up, on we might not be able to find a good one. Do you think lots are going to continue falling? Are there more lots being released in that area? thank you

[olecapt]

This is all tricky. There will be a continuous supply of quality lots for some years. There are for instance newly terraced lots above MacDonald's ranch in Henderson that have been pulled from the market for the moment. They will reappear as soon as the market warrants.

There is also a huge expanse of Summerlin west of 215 that will eventually be developed as high end view lots.

There are also any number of places where 1 or 2 acre view lots are avaliable now if you want to do your own thing.

One question is are you set on being in a development? If so then you need to get the development docs and rules. And note they are all different.

And check the rules out carefully. You may find the Ridges does not work at 600K. The house may be too small.

[Spraynard Kruger]

Originally Posted by helllo2010

We’re in desperate need of advice and we were recommended to this site. We're looking to buy a home in the Red Rock area; however, they’re hard to get. We came with a crazy idea and just would like to know if is totally insane or somewhat doable. We were thinking of buying a lot for now and start building next year. The Ridges area has lots in the 300's rage. How expensive is to build? (Our budget is 600,000+lot) utilities? Permits? What other expenses will we encounter? Does anybody know if we have to use their own contractors and architects or they allow different ones? Do they give a time frame to build? (just in case we run out of funds and might have to stop) This has been our eternal dream!![/font]Thank you for any and all advice is great to be able to have forums such as this one.

There are interior lots in Southern Highlands as low as 200K. If you want to build within a guard gated community, this might be an option for you at your price point.

[olecapt]

It is interesting. The OP is willing to put up most of a million dollars and we point out that will get you an interior lot with limited view..and high HOA fees. .

[helllo2010]

Thanks for all the responses, we will be looking at all those areas also. We just fell in love with the the red rock area. We like modern style homes and so far we've only seen that style up there. Now we know that more lots will be released in that area in case we decide to wait and see if lot prices continue to go down. Thank you for taking the time.

[tomfirst]

Never 'fall in love' with any house or lot. Take a deep breath. You will always wind up paying too much. Building your own always cost way more, even if you know what you are doing and be your own general contractor.

[VegasGeorge]

This is a good time to buy in LV, but not necessarily a good time to build. You can buy substantially cheaper than you can build. Best advice: buy the lot and a temporary home now. Sell the home and build on the lot later when the market changes.