Buying a first home: Las Vegas

[MatthewRyan]

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Waiting to buy a home cheaply is great but there are a few things we must consider.

Good2cu is currently a professional poker player who claimed he has won a lot (we'll take his word for it). Considering that he's also an online player, it's also important for him to operate in an environment where he feels fresh. Here are the advantages of him buying right now.

1. Tax deductible off his mortgage interest to lower some of his income.
2. His home office, which can be 1/5th or 1/6th of the mortgage payment if he choose to operate in a large room.
3. The rent for WSOP.
4. No state income taxes.

The above advantages are monetary and are obvious. Here are the intangibles of owning a Vegas home.

1. Raise his street cred and feel good about himself.
2. Can you imagine the opportunities for boning girls at this house? It's freaking Vegas.
3. Friends visiting him all the time. Ok, maybe not this one.

Lastly, the market outlook. We do not know how much the Vegas RE will go down. The majority consensus is that it will go down with a range of 2 years. I'm going to go ahead and stick my neck out and say no one know whether this range is correct. 2 years is just a number that "seems" right and since everyone is saying it, it must be correct.

But look at the upside, we are saving a lot of taxes. Our quality of life will probably increase. We get to bang more girls. Mostly importantly, OP gets to learn to make a big financial decision at an early age. And this is assuming that the Vegas RE is in deep shiet and will continue to plummet. Now imagine if the Vegas RE manage to depreciate at a lower rate. Compare this amount to the amount that Good2cu saves from taxes, it might be a good investment. That is, assuming Good2cu makes over 150k [an educated random number]. My reasoning is obviously flawed if he makes less than 150k.

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sh- wow sick good post. It is like you read my mind