[Maximus Decimus Meridius]

I am new to the forum. I have checked and there are some threads that similar to my request for advice, however the real estate market is so volatile right now that reviewing a year old posting really may be outdated. Excuse me for my redundancy. My BH and I retire after the first of the year and we have decided to move to Las Vegas. Our request for advice is in regards to real estate in the Las Vegas area. We do not need a lot of square footage (which is a good thing since we do not have a bank roll of cash either). We would be able to pay 200,000 cash for a home. We plan to do a lot of traveling and when we are at home we would like to be active – very active. For that reason we have thought that a condo on the strip or a home in a 55+ community would suit our needs; the condo because it has amenities and activity provided by the strip, and the 55+ community because of the activities provided by that type of community. Both options could be left for long periods of time without crime I would think. We are 55, have worked all our lives and do not see ourselves sitting home and reading all day.

We want to wait to see what the market does with the election and we are not sure if there is going to be a foreclosure dump by the banks in the next 6 months. We also have to sell our current home so our “plan” is to sell, move and what is available at the time is what we use as our pool of options. We are not flippers. We plan to purchase what we can afford, live there for a considerable amount of time then move on. It seems that almost every condo and 55+ community seem to be in the middle of litigation, so as far as that things seem to be even. If we were planning on living there for 5 + years would you still rent rather than buy? My BH really hates the idea of renting.

If you were in our shoes, what condos, or communities do you suggest we would include in our option pool?

Thanks in advance for the help.

[BBMW]

First, forget the condo on the strip idea. This is for a few reasons. They are much more expensive than you probably want to be paying, and much more than you'd have to pay pretty much anywhere else in metro Vegas. The 55+ community is a much more viable concept. Search for anything under the name "Sun City" (there are several communities in different parts of the Valley.) I'm sure there are others, but that's the only brand I know off the top of my head. You could probably do pretty well, and still get change back from your $200K

Also, if you move to Vegas, driving will be part of the plan, an a good part of your day will probably be spent away from the house/community. Don't obcess with what would be in the immediate area. Also Vegas metro is small enought that you won't have a particularly long drive to get anywhere. Also look for someplace with good highway access.

[modhatter]

I agree, you will probably be a lot happier in a 55+ community. They may even have occasional day trips to the strip, and would be more fun going with a group. Or if you want to go yourself, your only 15 to 20 minutes away. Plus you have the local casino's which after a while, you will probably prefer. You will meet a lot more people this way, and have the best of both worlds. There are a number of communities. Some others can chime in a give you the names. I know the one below Henderson area is the most popular and active (and expensive) Then there is one in the Summerlin area, and one up north in the Aliente area.

If you wanted to save some money, there are some manufactured home 55+ communities that seem quite nice. Don't recall the names, but there is one down in the Henderson area that looked pretty.

[lvoc]

The strip is actually not likely to be a good deal. Rather high HOAs and the activity consists of eating, drinking, gambling and show going. While all good fun that gets to be a drag as a constant diet.

You can find lots of good 55+ places. For one who is active the two bigs one are probably the best...that is Sun City Summerlin and Sun City Anthem. Best have heavy activity and things going on continuously. The smaller Sun Cities also provide nice facilities but lack the population to keep the activity list large.

You might also consider one of the attached places in either Sun City. These work as Condo Associations with all exterior maintenance handled by the Association. They have a higher HOA fee than a Sun City single family. You can however set it up so you can simply close it up and leave. They generally are two bedroom and range in size up to 1800SF. You can buy through the intermediate size units for under $200,000.

[Golfinnova]

Originally Posted by lvoc

The strip is actually not likely to be a good deal. Rather high HOAs and the activity consists of eating, drinking, gambling and show going. While all good fun that gets to be a drag as a constant diet.

You can find lots of good 55+ places. For one who is active the two bigs one are probably the best...that is Sun City Summerlin and Sun City Anthem. Best have heavy activity and things going on continuously. The smaller Sun Cities also provide nice facilities but lack the population to keep the activity list large.

You might also consider one of the attached places in either Sun City. These work as Condo Associations with all exterior maintenance handled by the Association. They have a higher HOA fee than a Sun City single family. You can however set it up so you can simply close it up and leave. They generally are two bedroom and range in size up to 1800SF. You can buy through the intermediate size units for under $200,000.

Spot on, I would add Sun City Aliante which while is considerable distance from The Strip has great deals on foreclosures.

[eventusstultorummagister]

Rent first and get a feel for the layout of the land.

This place would be reasonably acceptable...

Sun City Summerlin

Next year, the buyer's market may loosen up so just relax in the interim.

Good luck and welcome to...

LAS VEGAS!!!

[lvoc]

Originally Posted by eventusstultorummagister

Rent first and get a feel for the layout of the land.

This place would be reasonably acceptable...

Sun City Summerlin

Next year, the buyer's market may loosen up so just relax in the interim.

Good luck and welcome to...

LAS VEGAS!!!

Mind things you understand. If you knew Sun City Summerlin you would know that one street - Fresh Springs - has the worst busy street noise problems in Sun City and maybe close to as bad as any.

They shoved that block in to minimums all the way. A great way to give someone a bad experience in Las Vegas. You have to learn that "cheap" is often for a reason. Now if you don't mind traffic noise and a tight lot it could be a good deal.

[eventusstultorummagister]

Originally Posted by lvoc

Mind things you understand. If you knew Sun City Summerlin you would know that one street - Fresh Springs - has the worst busy street noise problems in Sun City and maybe close to as bad as any.

They shoved that block in to minimums all the way. A great way to give someone a bad experience in Las Vegas. You have to learn that "cheap" is often for a reason. Now if you don't mind traffic noise and a tight lot it could be a good deal.

Not a problem, most old timers are hard of hearing...

[irishspy]

I suggest getting a real good real estate agent first. Keep your mind open to all of the areas you get shown. There are a ton of gated communities with older residents in them. We just purchased a townhouse in a gated community which is mostly older folks over 50. We are 4 miles from the strip and 4 miles from the airport. Very quiet area and most everthing e need for stores are within a 1 mile radius. If you ant the name of our agent DM me and I will send it.

[MadManofBethesda]

As a recent mid-50s retiree who moved to Las Vegas with the idea of living in a 55+ community, I'm going to disagree with pretty much everyone else on this thread. I don't think the OP will be happy living in such a community, especially not Sun City Summerlin, once she visits a few times and realizes that she'd be living in a community with people who are closer in age to her parents than to her and her husband. Even now, when I visit Sun City Summerlin to take in a show at the Starbright Theater, I rarely see anyone who appears to be under the age of 70.