Should I buy a house in Las Vegas right now?

Question

My husband has a job making $80,000 and I'm a house wife.... we're relocating there for that... what would be a good amount to spend on a house?

Answer 1

Well, the way the market is going right now it's a bit of a gamble.

Answer 2

It would be ideal to check how much you are qualified, how much you can borrow for the loan and asking how much the monthly mortgage will be (includes the taxes, principal, insurance and escrow) then you will find out what would be the good amount to spend on a house.

Should you buy, I always say that in these market it is a good idea to buy instead of renting, provided that you are willing to hold on for the long term. Prices in Las Vegas may go down for now but it will bounce back in the long run.