Buying a home is an exciting milestone—but many new homeowners are surprised to learn that the mortgage is only the beginning. At Vice Realty, we believe informed buyers make stronger financial decisions. That’s why we’re breaking down the often-overlooked costs of homeownership in Las Vegas and how to plan for them.
1. Property Taxes and Insurance
While your mortgage lender may include these in your monthly payment, it’s essential to know what they actually cost. Las Vegas property tax rates are generally lower than the national average, but they still add up annually. Don’t forget homeowners insurance—this protects your home and is typically required by your lender.
2. HOA Fees
If you’re purchasing a home within a homeowners association, expect monthly or quarterly HOA dues. These fees cover community amenities and maintenance but can range widely depending on the neighborhood.
3. Maintenance and Repairs
Unlike renting, all repairs fall on your shoulders. Budget for ongoing maintenance like HVAC servicing, landscaping, pest control, and unexpected fixes. Experts suggest setting aside at least 1% of your home’s value each year for maintenance costs.
4. Utilities and Lifestyle Adjustments
Your utility bills may increase depending on your home’s size and efficiency. New homeowners should also factor in costs for internet, trash collection, and potential upgrades or furnishings.
5. Long-Term Investments
Think about improvements that may not be urgent but will protect your investment—like a new roof, upgraded appliances, or energy-efficient windows. These long-term upgrades can improve your property value and comfort.
Owning a home is a powerful way to build wealth—but it comes with responsibilities and recurring expenses that go far beyond the down payment. At Vice Realty, we guide you through every financial detail, so you're prepared not just to buy—but to thrive as a homeowner.
📞 Ready to talk numbers and make a smart move? Call us at (702) 550-1160 and let’s create a plan that works for your lifestyle and budget.
