The market for vacant land for sale in Las Vegas offers diverse and exciting opportunities for real estate developers, business owners, and homebuyers. With stunning master-planned communities, a vibrant entertainment scene, and miles of amazing natural landscape, the famous Las Vegas Valley continues to bring in not just people looking to make the valley their home, but also business-minded individuals who recognize the potential for high returns in Las Vegas real estate.
Most investors fall prey to the idea that vacant land brings no profit, so they focus on real estate properties such as buildings, condos, and houses. Although it’s true that owning vacant land is much less thrilling than owning a house, there’s actually a lot of benefits to having land parcels in Las Vegas.
Why Buy a Vacant Land in Las Vegas?
Vacant land is like a blank canvas; you can do anything you want with it and since it’s in Las Vegas, the possibilities are simply endless. You can build something for yourself or sell it for commercial or residential constructions. You can even just hold on to it, wait and see what happens later on, and adapt according to the demands of the time. With vacant land, you can always choose whatever action will bring you the most profit.
The Las Vegas Valley currently has hundreds of miles of vacant land, and a certain percentage of this unused land is put on auction each year. These auctions are your chance to grab land parcels measuring anywhere between one to 50 acres.
You might ask why going for such land auctions are a better idea than real estate properties. The answer is competition. There’s less competition in vacant land so you have a big chance of securing a parcel at a competitive price. There aren’t many investors who would constantly bid you up for it. Meanwhile, if you go toe-to-toe in the competitive real estate market, you could end up purchasing over-priced properties.
There’s no personal income tax that you have to pay in Las Vegas, so you get the full amount whenever you sell land. Property taxes in Las Vegas are also lower by almost 70% than in other states.
Potential for High Returns
Because of the steady stream of investors and homebuyers, several master-planned communities and neighborhoods in the valley are projected to grow in the coming years. Hence, if you lock in a vacant land sitting right on their growth path, they’ll eventually need to buy it from you—and everyone knows that real estate value can grow by leaps and bounds in a place like Vegas.
Moreover, new communities are quickly being planned and built. So, even if the vacant land you purchase isn’t in the growth path right now, there’s a huge possibility that it will be in the future.
If you’re thinking of securing a vacant lot in Las Vegas, feel free to contact us here at Las Vegas Real Estate (LVRE). Our expert real estate agents will be glad to provide you with information on any vacant land currently for sale in the city.