There are many Las Vegas apartments for sale. Many apartment buildings in Las Vegas have been transformed from rental units to condo units. There are many benefits to buying a Las Vegas condo unit that was formerly a rental apartment.
If you buy an apartment condo in Las Vegas for $75,000 then you will have to fork out a lot more money upfront. Obviously your cost of buying a condo apartment is much higher then simply renting an apartment, at least initially. If you rent an apartment at $750.00 a month for two years then you will have paid $18,000 in rental costs with no equity built up.
If instead you had purchased a unit you would have a lot of equity built up. Even if you move away from Las Vegas you could still rent your unit out as an apartment or you could sell it and make a small profit.
When purchasing a former apartment unit that has been converted into a condo you will have to pay monthly maintenance fees but your monthly fees are much less then the costs of just renting an apartment unit.
Although you will still be limited with what you can do on the exterior you will still have full freedom to decorate the inside as you choose. If you want to paint your apartment condo a weird color you can. If you simply rented an apartment then you would have to get the landlords permission.
If you have a leaky faucet or a toilet that needs to be replaced then you are responsible for those costs if you purchase an apartment condo. Although you are responsible for the interior maintenance the exterior maintenance is generally paid for by the fees you pay as part of your condo dues.
If something major such as a sewer line breaks or the roof needs new tiles then that is usually covered by the condo association.
You will not be responsible for landscaping or lawn mowing. In most cases the landscaping is paid for with the dues paid by all the condo owners.
If you like living in an apartment complex that is well ran but hate the idea of paying rent then consider buying an apartment condo. These former apartments that have been converted into condo units offer you the ability to build equity the same as if you were to buy a home. You actually own your own apartment. In many apartment condo complexes in Las Vegas these are more suitable to living in then regular apartments that are available simply to rent. The reason for this is that if a person actually owns there apartment unit as opposed to simply renting it they will usually take more pride in the building.
In the current Las Vegas Real Estate market you can find some apartments for sale that have been converted into condo units for as little as $60,000. If you have a down payment and good credit your monthly mortgage payment will actually be lower than your costs if you were simply renting a unit.