The benefits of owning Vegas luxury real estate range from boosting a financial portfolio to having a crash pad in one of the world’s most exciting cities. Developments like The Downtown Project are funneling assets into the future of Las Vegas, creating business opportunities while fostering a “think tank” environment. Technology companies are moving from higher-cost zip codes like Silicon Valley, bringing with and attracting vibrant human talent to their offices.
Since we’re on the subject of population influx, I’d like to mention that Las Vegas is a constant and considerable draw for tradeshows and tourism. For residents, we enjoy the perks of visitors in the form of a lower tax base thanks to revenue collected from hotel and sales tax.
Why Vegas Luxury Real Estate Is In Demand
While Las Vegas is famous for the neon lights, casinos, and entertainment, leisure pursuits also have a home in the valley. Man-made improvements include golf courses, including those designed by PGA tour professionals, water parks, museums, even car racing and 24-hour bowling lanes.
Transportation in and out of the city is convenient as McCarron International Airport is near the strip and 215 beltway. There are road trip options too. Residents can hop on Interstate 15 and head to California for a quick coastal getaway.
A short car ride away from the city are Lake Mead, Mount Charleston, the Great Basin National Park, Red Rock Canyon Conservation Area, the Henderson Bird Viewing Preserve, and various horseback riding adventures.
Vegas Luxury Real Estate Caters To A Variety of Buyers
Thanks to the diversity in location, type of home, and neighborhoods, Vegas real estate is an appropriate investment for future owners at any stage of life.
Urban dwellers can find furnished condos in luxury high-rise buildings, with amenities like grocery delivery, car and limo service, resort-style pools and spas. Some of the hotel/residence combinations offer room and cleaning service as well.
The frequency of floor plans including multi-generational living spaces encourages extended family members living together with autonomy. Casitas in the form of separate dwellings, or under the same roof as the main house are ideal for extended families living close together without intruding on each other’s privacy.
A passive, tax-free income stream is available to those buyers considering renting out their Vegas luxury real estate. Visitors to the valley arrive with all sorts of agendas that require accommodations other than hotel rooms. Short-term and long-term leases, if allowed by the HOA, are state income tax-free ways to build equity in your investment.
Nevada has no state income tax, and revenue from rentals isn’t added to your bottom line as far as total earnings, on the state level. You can still deduct mortgage interest charges, improvements, and repairs from your federal tax bill.
Getaway Hide Aways
Often I’ll have clients who buy Vegas luxury real estate as a second or vacation home. The desert climate opens the door to year-round sunshine, and there is always fun to be had in Vegas. Fun includes taking advantage of our natural resources as well.
The Colorado River is east of the city limits and is the water source for Lake Mead and Lake Las Vegas. The Hoover Dam redirected the flow from The Colorado River to form the 1.5 million-acre Lake Mead National Recreational Area.
Mt Charleston is a year-round destination for basin dwellers and adventure seekers alike. Over 50 miles of maintained trails weave along the top of the mountain, the highest elevation in southern Nevada, and it’s an average of 30 degrees cooler at the top.
Live and Play At Home
Neighborhood amenities that are lifestyle oriented and include upgraded facilities like professional-level fitness centers, tennis courts, golf courses, and organized groups. Sports and entertainment options for kids, provided by neighborhood associations, cater to the youngest of Las Vegas residents. Summerlin‘s activities calendar rivals any cruise ship’s, with parades, sports, meetings, movie screenings and other events.
The latest addition to Summerlin is The Summit Club. This new ultra-lux offering is a 555-acre joint development venture between Howard Hughes Corp., the founder of Summerlin, and Discovery Land Co. from Scottsdale, Ariz., a specialist in luxury resort design and construction. Together they are creating an atmosphere of privacy, as well as opulence with the residents-only golf course and clubhouse, plus family-focused activities and services.
Ready For Vegas Luxury Real Estate?
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