Five Reasons to Consider Buying a Home on the Nevada Side of Lake Tahoe

The Nevada side of Lake Tahoe is a stunning year-round destination that offers residents and visitors an array of activities and natural beauty. With world-class ski resorts, entertainment and night life, award winning restaurants, and breathtaking views. See why we think the Nevada side of Lake Tahoe is a perfect place to call home or invest in a vacation property.  

 

1. Tax Benefits

Nevada residents can take advantage of no personal state income tax, low property taxes, and no inheritance tax.  Nevada is among the most tax-friendly states in the United States and is the most tax-friendly in the western states, according to a 2018 Kiplinger report.  A 0% state income tax and property tax that hovers just over half a percent means substantial savings. The sales tax rate is also low, at 7.75%.

It’s no secret that Nevada offers much friendlier tax benefits compared to California, and those seeking to purchase either a primary residence or vacation home on Tahoe’s Nevada side have benefits like low property taxes; no income, social security, and estate taxes; and favorable business taxes. 

 

2. The Outdoor Activities

Those who love the outdoor have always been drawn to Lake Tahoe for its year-round activities. The Lake Tahoe area is most well known for its amazing alpine, cross country, and back country skiing in the winter months, but also offers a host of activities in through out the year. Kayaking and stand up paddle boarding, parasailing, boating, jet skis and water skiing are all popular on the Lake, as well as rafting and fishing in the local rivers. The world renown mountains are great for hiking and biking, as well as mountain biking throughout the spring, summer and fall.

For more about all the Tahoe activities see our activities guide page here!

 

3. Night Life and Entertainment

The Nevada side of the Lake offers unique amenities found in big cities like shopping, night life,  restaurants, entertainment, and gaming.  The Casinos in both South Lake Tahoe and Incline Village are world renown and draw thousands of visitors each year. They offer fine dinning with award winning chefs, international celebrities and musicians for entertainment and night life, and all that Casinos and gaming have to offer.

For more about Tahoe night life and entertainment see our activities guide page here!

 

4. Great Potential for Rental Income

Homebuyers who are looking for a potential source of income can consider vacation rental properties, which are in high demand during the peak seasons of both winter and summer. The Casinos in both South Lake Tahoe and Incline Village are world renown and draw thousands of visitors each year for both tourism, entertainment, and conventions. This offers a great opportunity to rent a vacation home for both short term rentals to weekend visitors and business guests, to long term ski leases and seasonal workers. 

For more about Rental Income Possibilities and Rules and Restrictions click HERE.

 

5. Affordability and Long Term Pay-off

The real estate market in Greater Lake Tahoe is competitive, with limited inventory and many buyers looking for vacation homes or primary residences. The region offers a mix of traditional single-family homes, luxury properties, shared ownerships, and condos. Prices vary depending on the location, size, and amenities of the property, with the median home price around the Lake between $775,000 to $1,500,000. However, there are more options on the Nevada side of the Lake below the million dollar range.   Traditionally, property owners in the Greater Lake Tahoe area who have maintained their property and owned it for several years (7-10 yrs.) have been very pleased with increase in property values.  In the 40+ years since I got my Real Estate license we have had only one time when property values have dropped.  That was during the great recession of 2008 and within a few years values were above pre 2008 levels.

For more about Tahoe properties and their potential as an investment click HERE.

 

Conclusion

Buying a home on the Nevada side of Lake Tahoe is a great option because of the affordability, the tax benefits, the nightlife and outdoor activities, and the potential for rental income and long-term investment. The real estate market is competitive, but the region offers a variety of properties to suit different lifestyles and budgets. Contact a member of our team today to learn more about why The Nevada side of Lake Tahoe is the perfect year-round destination for buying a vacation or residential home.