When considering the best location for establishing a retirement residence, the two most important factors are often times price based and amenity based. There is no question that nearness to family and attractive weather also play an important role much of the time, but cost of living issues and “life quality” opportunities seem to be the most prominent factors in most cases. How much house can you buy for the money and how much of your retirement income do you get to keep in your pocket after accounting for your tax burden? These are the pressing questions, especially in this economy, that most often guide people’s thinking in making their best possible retirement choice.
How does Las Vegas real estate fit into this picture? Let’s just talk about it the way it really is. Las Vegas homes have dropped in price by approximately 60% over the past 3 to 4 years. In fact, prices are now so low in Southern Nevada that U.S. News & World Report recently ranked Las Vegas #2 in the entire country for buying a retirement home on a price basis. As compelling as this is, I would like to point out another tremendously important factor that favors Las Vegas as a prime retirement destination … our overall tax burden. The only state that takes less in taxes than Nevada is Alaska, and the only other states that even come close to our minimal tax rates are Wyoming and New Hampshire. To be honest, it has been our experience that most people try their best to escape cold and snow in their retirement years. Las Vegas, Nevada gives you the opportunity to maximize your retirement income while completely avoiding the snow shovel and the bone chilling temperatures.
How do we stack up on the question of lifestyle amenities and overall pleasurable living? Everyone knows that story already – 320 sunny days a year, great golf and outdoor sporting activities, stimulating cultural venues, fantastic restaurants, terrific shopping and all the nightlife you can stand. When you put it all together, it is hard to imagine a retirement destination with a better mix of all the things that matter most than Las Vegas, Nevada!