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January 2012
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Should I invest in my Las Vegas Luxury Home now or later? A question of love and money…

Many of us have come to think of our Las Vegas Luxury Homes in purely financial terms. In the not too distant past, we tracked Home price appreciation almost as intently as day traders followed stock market indices. That appreciation allowed us equity lines of credit to purchase all sorts of things. After the economic reversal that began in 2007-08, declining Home prices have left us uncertain about whether to put more money in our Homes.

Las Vegas Luxury Homes

Las Vegas Luxury Homes

To answer the title question fairly, we should step back a bit and recognize that for most of us, our Homes are really a combination of economic and emotional investment. We feel differently about a place we own rather than one we would rent, and this difference is the psychological portion of the return on our investment in our Homes. This return is intangible, but it’s real. We care greatly about our Luxury Homes, our castles. So whether we will get all of our money of a planned Home improvement out upon sale, while a substantial consideration, should probably not be the only measuring stick we use i.e., if we’re not improving simply to increase the value of our Las Vegas Luxury Home for an imminent sale. If we plan to own our Home for a while, our Home’s pure economic return shouldn’t have to match or beat the return on our stock portfolio. Self-evident, you say? Yes, but too often overlooked these days.

Here are a few rules I use for advising people whether to invest in they Las Vegas Luxury Homes now. Perhaps you will find that most of these are self-evident as well, but, I believe, they are often overlooked.

  • Needing or Simply Wanting a Home Improvement:If the roof has been leaking, its repair or replacement is in the essential column. Easy thought process, we need to protect our Home and our family; sufficient economic return on that investment is a given. How about an elegant curved staircase compared with a straight one? The curved staircase should be more attractive, but it will cost quite a bit more in terms of money and space. We may never recoup the additional invested funds. However, if we have the right Home and the funds, the psychological return on this investment may legitimately provide a larger portion of the reason to do it. Bottom line: wanting a Brazilian cherry wood floor may be reason enough to install it if it provides us with a long term emotional lift and we can afford the additional cost. Of course the exotic wood will also likely raise the value of the right home as well.
  • The Compatibility Factor: The improvement should fit in reasonably well with our property as a whole. If it doesn’t, even the hoped-for long term psychological return will prove elusive. The improvements should also should fit with Luxury Homes in your community. It is not advisable for your Home to be “overdressed” or “underdressed” compare to other neighborhood Homes.


  • Available Funds: Am I planning to sell my Las Vegas Luxury Home shortly or do I intend to live in it for a good length of time? If I am improving the Home to market it soon, the decision is more about whether I will likely get the invested money out on sale; this should be a purely economic equation. If I am intending to live in my home for quite some time, the discussion turns on other criteria as well.

Click here to speak to one of Las Vegas Luxury Homes Specialists or call 702-588-6868.


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3 Responses to Should I invest in my Las Vegas Luxury Home now or later? A question of love and money…

  • Joko:

    , Once you have the basics, well it’s ptrety straightforward. I can also relate that 1664 SF is much larger than my family’s needs and that we could do fine in half the size. For resale, however, even a 1664 SF house is considered way too small for most people WITHOUT children (I know this since we are selling). A 100 SF house is workable for some people. It is one way (and one I find enjoyable to read about) but it is certainly not the only way. An idea that would more widely suit a family would be reverting back to the house sizes of the catalog homes of the early 20th century where many houses ranged from 600-1000 SF. To my mind these are reasonably sized buildings that could easily be made energy-efficient with today’s innovations along WITH the added bonus of a long life because of their functionality (something I do not think the majority of these tiny houses will have in the long run). Downsizing is a very good thing to promote. And a 2000 SF is not a small house. In fact, I think small might be considered 1000 SF or less with the tiny realm being the world of innovative people like Peter.Thanks for sharing!

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