Is it straightforward to buy a house in Vegas

[pete80]

Hi
I am planning to live about 6 months a year in Vegas area and am wondering whether it is best to buy a reasonably cheap house within a 20 to 30 minute drive from the strip or whether I would be better renting one. I do have the cash to buy a property but am not sure if as a UK Passport holder I can fully own the house and lot.

One problem with renting would be that I would have to store my belongings each time I move away for another 6 months.

Also any idea of cost of health insurance per month for a single 49 year old in Vegas area and would the company do a 6 month policy each year.

Many thanks in advance for your help

Pete

[synthia]

Welcome to the forum.

The US doesn't have restrictions on who can buy property. During the big Japanese boom, many of our iconic properties were owned by the Japanese.

If you don't want to rent, you could sign a one year lease and continue to pay for the apartment. That still might work out cheaper than buying.

[JohnSoCal]

Las Vegas is in the midst of a severe housing crisis and prices have dropped drastically. You can get some very good deals but prices will be declining for awhile longer until the housing crisis ends. Buying a home here in the US is very easy and you should not have any trouble finding what you want.

I don't know about buying medical insurance for just 6 months. Insurance companies generally do not like to see a lapse in coverage. However, there are literally hundreds of thousands of people from Canada that do just what you are planning to do so I would imagine that there is a way to do it.

The cost of medical insurance varies all over the place depending on what type of policy you want. There are many sites on the Internet that you can check for comparing costs etc. We pay $340 /month ( just went up 6% ) for my wifes medical insurance. She has an individual policy as she does not work. I am covered by a Medicare Advantage plan that doesn't cost anything and has excellent coverage with NO co-pays and NO deductibles.

[synthia]

How do you get Medicare that doesn't cost anything, JohnSoCal. Everyone I know pays something every month. I think it comes out of their Social Security payment, but they do pay.

Since you are only going to be in the US for six months, look for an expat policy or even a travel policy that will cover you for the time you are in the US.

[JohnSoCal]

Originally Posted by synthia

How do you get Medicare that doesn't cost anything, JohnSoCal. Everyone I know pays something every month. I think it comes out of their Social Security payment, but they do pay.

Since you are only going to be in the US for six months, look for an expat policy or even a travel policy that will cover you for the time you are in the US.

I pay just the regular Medicare Part B premium. I do not pay any additional premiums such as you would with medigap and I have better prescription drug coverage than Medicare part D and I don't have to pay for it. My Medicare Advantage plan covers all of the deductibles etc. that standard Medicare has so I pay NO co-pays and NO deductibles.

[Bevdeforges]

As the others have told you, there are no restrictions on foreigners owning property in the US. The one caveat is that, should you require a mortgage of any sort to purchase your property, you may find that US banks will not lend money long-term to anyone without a Green Card, or they will limit the term of the loan to the term of the visa on which you entered. There are ways around this, but you have to negotiate a bit with the bank.

As to health insurance, an expat policy would probably be your best bet even if you had to take out full-year coverage. It is possible to get travel policies for a year at a time (which would cover you for any travel you do, whether in the US or not), though these only cover "catastrophic" illness and accidents. You'd have to return to your own country for routine treatment, or any non-emergency, or pay for it yourself in full. Worth considering, at least.

[legend98]

ok why would you want to buy a house in Vegas?? Its not all that great to live, its a shiesty city, the crime rate has risen with so may people moving there from California. I lived there for 5 years and couldnt take the pollution or the people anymore. Also lake mead is drying up and vegas and Arizona have been going threw a very bad drought for about 10 or so years.

[JohnSoCal]

Originally Posted by legend98

ok why would you want to buy a house in Vegas?? Its not all that great to live, its a shiesty city, the crime rate has risen with so may people moving there from California. I lived there for 5 years and couldnt take the pollution or the people anymore. Also lake mead is drying up and vegas and Arizona have been going threw a very bad drought for about 10 or so years.

Are you saying that Californians are criminals and responsible for the crime rate? That is pretty ludicrous.

[pete80]

I have been busy selling house and preparing for the big move so am late in replying.
Thanks for all your help and info re buying a house and health insurance.
Does anybody have a link to insurance companies who deal in Expat medical insurance. I can get 1 year travel insurance from the UK for £300 to £600 per year but as pointed out in the replies, it doesn't cover anything bar emergencies. I do intend to do a RTW trip every year but one condition of 1year travel insurance is that you have to be resident in UK for 6 months out of the previous 12. As I need to be non-res for 5 years that knocks that idea on the head so an Expat medical insurance may be the way to go.
As regards housing, I may just tour for my first 6 month trip and buy on the second trip in 2009. No mortgage needed so I suppose that will help in getting a good price.
As regards Crime in Las Vegas, I have been on 7 trips there between 1992 and 2005 and never felt threatened (have you ever tried Slough High Street in the UK after 8.00pm ?) I even went on a ridealong with LVMP for an evening shift during one vacation and just learned to stay out of areas that looked similar to drug and crime infested areas of London. Drus and crime are in every major city but I guess that most areas of Vegas especially Blue Diamond Highway and Henderson and Boulder City are probably safe enough to live peacefully. Maybe some of you posters can help me there.
Once again, many thanks for your help and have a great New Year !

[JohnSoCal]

Originally Posted by pete80

I have been busy selling house and preparing for the big move so am late in replying.
Thanks for all your help and info re buying a house and health insurance.
Does anybody have a link to insurance companies who deal in Expat medical insurance. I can get 1 year travel insurance from the UK for £300 to £600 per year but as pointed out in the replies, it doesn't cover anything bar emergencies. I do intend to do a RTW trip every year but one condition of 1year travel insurance is that you have to be resident in UK for 6 months out of the previous 12. As I need to be non-res for 5 years that knocks that idea on the head so an Expat medical insurance may be the way to go.
As regards housing, I may just tour for my first 6 month trip and buy on the second trip in 2009. No mortgage needed so I suppose that will help in getting a good price.
As regards Crime in Las Vegas, I have been on 7 trips there between 1992 and 2005 and never felt threatened (have you ever tried Slough High Street in the UK after 8.00pm ?) I even went on a ridealong with LVMP for an evening shift during one vacation and just learned to stay out of areas that looked similar to drug and crime infested areas of London. Drus and crime are in every major city but I guess that most areas of Vegas especially Blue Diamond Highway and Henderson and Boulder City are probably safe enough to live peacefully. Maybe some of you posters can help me there.
Once again, many thanks for your help and have a great New Year !

I know Las Vegas very well and have several friends that live there. You are quite right about safe areas in Las Vegas. Henderson, Green Valley, Summerlin, Boulder City ( not really in Las Vegas ) and many other areas have very low crime rates and are very safe and peaceful. Personally, I wouldn't want to live in Las Vegas but it has nothing to do about crime. My friends that live there are quite happy. If you want to live in Las Vegas then go for it.