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Las Vegas Mortgage for BC Buyers

Is a Las Vegas Mortgage a Great Bet for BC Buyers?

Las Vegas Mortgage for BC Buyers

Fresh from his real estate tour of Arizona, Rene Carloni hit Las Vegas Nevada to explore another option that BC vacation-home buyers have expressed interest in. While many households know that Vegas is a great destination to spend a long weekend in, is it really a place to call a “second home” for weeks or months at a time? Moreover, is a Las Vegas mortgage a smart investment from a Canadian buyer perspective? Here’s what Rene’s recent roll through the City That Never Sleeps uncovered.

Why a Las Vegas Mortgage May Make Sense for BC Buyers in Search of a Vacation Home

Affordable Even with the Exchange Rate

BC buyers interested in a second home mortgage south of the border already accept that the exchange rate is a part of the decision making equation. That being said, isn’t it nice to discover that there is a highly desirable destination with average real estate prices that are low enough to compensate for what happens in the currency market? 

At press, the average price for a Las Vegas house is $440K. Compare this to the South Okanagan region. During the same period, the benchmark price for single-family homes in the Central Okanagan stands at $1,009,000, followed by the South Okanagan at $758,000, and the North Okanagan at $738,500. 

It’s So Much More Than Casinos and Shows

There was a time that Las Vegas was only for those with a penchant for table games, slots, and a nightly gauntlet of music, magic, and comedic performances. While that all remains, Vegas has become so much more over the last two decades. It is now considered a family destination with as much to do with tots and teens as there is to do for adults and seniors. Furthermore, the city is adjacent to incredible natural attractions and related activities. You can spend your weekends kayaking around Antelope Canyon, hiking through the Grand Canyon, exploring Death Valley National Park, taking horseback rides that are reminiscent of the Wild West, and more.

Desirable Communities for BC Buyers

As a result of the lifestyle expansion addressed above, a number of great communities have formed around the greater Las Vegas area. There are houses, townhomes, and condos that suit the tastes and budgets of any type of household. Prime communities that BC buyers will appreciate include the following:

  • Arts District (Median Sale Price: $415,000)
  • Angel Park ($325,000)
  • Centennial Hills ($411,500)
  • Charleston Heights ($305,000)
  • Kyle Canyon ($510,215)
  • Peccole Ranch ($491,400)
  • Rancho Oakey ($534,000)
  • Skye Canyon ($535,000)
  • Twin Lakes ($320,000)
  • West Las Vegas ($303,068)

*Median sales prices courtesy of Redfin

Earn Revenue 

Las Vegas’ perpetual expansion and favorable labor market (spurred by the hospitality industry) helps make real estate resilient against economic downturns. Recent data released by UNLV researchers indicate that by 2060, Southern Nevada’s population could grow to 3.39 million people (it’s currently 2,327,680). The provides peace of mind that your investment will be protected. However, gain even more confidence in the fact that you can earn significant revenue on the short term rental market (STR) by leveraging services like Airbnb. One especially active tourism season could easily pay for an entire year of your Las Vegas mortgage.

Ask About Mortgage Opportunities in Las Vegas

(BC Residents)

CALL 250.493.9111