Perks of Living In Nevada

California vs Nevada Cost Of Living | Perks of Living In Nevada

Gary Allen call me at 702-610-4539 or visit https://rv204.infusionsoft.com/app/pa...

I continue to get calls from California residents who are inquiring about buying properties here in Las Vegas. This is not something new, I have already seen and lived through this cycle a couple of times, first in 2003/4 when out of state buyers were snapping up investment properties at a record pace, and then in 2010 when our local market was hovering near the bottom and the rate of return on investment properties was at its highest.

One thing is clearly different with today’s inquiries: all those calls are not from investors looking to fatten their portfolios with more investment properties but rather from disgruntled homeowners who are tired of being beaten down by the so-called Tax-ifornia. More and more people are looking to relocate to Las Vegas for one reason or another but according to statistics the low cost of real estate is definitely the reason number one. When you compare the two markets, you can clearly understand why Las Vegas and Nevada are becoming an obvious choice for anyone who is tired of paying high taxes.

The real estate markets in Southern California are at an all-time high and they seem to be unstoppable. Along with the high cost of owning a home, California has one of the highest tax rates in the nation for individual and businesses and that’s even before taking into consideration the high cost of utilities, property taxes, groceries, etc..
The difference in unemployment rate (California 6.3% vs. Nevada 7.1%) is so close that even the strongest California aficionados can no longer use it as a reason to stay and invest in California. Nevada has had a record recovery when it comes to creating new jobs. With few exceptions, Nevada has gained the most at California’s expense (in income as well as people) by decidedly lowering tax burdens and better business-tax climates.

Concerning issues like the average cost of square footage, average cost of living, property tax and income tax, it’s a wonder Nevada hasn’t already experienced a bigger influx of Californians.