Buy in This City to Make Money on Your Home Investment
Waking up in Vegas is profitable if a homeowner is looking to sell. The city ranked first on Betterment’s list of the best cities to make a large annual internal rate of return. But don’t pack up the house to move to Sin City just yet--it can take up to a decade of living there to start seeing the a large return on a home sale.
If you’re thinking of buying a home in Las Vegas — congratulations! You just might make a bundle when the time comes to sell it.
That’s because the average annual internal rate of return for a homeowner in Sin City is 13.29%, according to a recent analysis by Betterment.
The so-called IRR is an investment’s return based on its related cash flows over time. In the context of owning a home, that cash flow includes the cost you pay each year to live there and maintain the dwelling.