The First-Time Buyer's Guide to Las Vegas
Every step of buying your first Las Vegas home, explained in plain English.
Who this guide is for
This first-time buyer's guide to Las Vegas is for you if you're renting now, thinking about buying your first home, and want to understand how it works before you start touring. You don't need to know any real estate words yet. We'll explain each one as we go.
It's from the Las Vegas Realty Team, with Signature Real Estate Group. We've helped buyers and sellers across the valley since 2007.
Buying your first Las Vegas home, in order
Step one: talk to a lender. Getting pre-approved tells you how much you can borrow. More importantly, it shows you a monthly payment. Pick a payment you're comfortable with, not the most a lender will approve.
Step two: add up the real monthly cost. Your payment is more than the mortgage. Add property taxes, insurance and HOA dues. Dues vary a lot around the valley. As of September 2026, they started from about $37 a month in The Willows in Summerlin, about $70 in Southern Highlands, and averaged about $100 in Mountain's Edge.
Step three: sign up with an agent. In Nevada, before touring, you'll sign the Duties Owed disclosure, which explains what a licensee owes you, and a buyer broker agreement, which is how you hire an agent to work for you. Ask your agent to walk you through both first.
Step four: find where your budget fits. Prices vary by community. As a rough guide from September 2026, single-family homes in Southwest Las Vegas started from about $350,000. An agent can pull current prices for the areas you like.
Step five: make an offer. Along with the price, you'll put down earnest money to show you're serious. For our buyers it's typically $5,000 or 1% of the price, and the escrow company holds it.
Step six: use your due diligence period. It's usually 10 days in Nevada, set in your contract. This is your window to inspect the home and look into anything you need to.
Step seven: close. Nevada doesn't require an attorney. Escrow and title clear any liens and make sure you receive clear title. Then you get your keys.
Mistakes first-time buyers make
- Touring before pre-approval. The home you love goes to someone who was ready to write an offer.
- Forgetting the HOA. Dues and rules come with the home. Read them before you commit.
- Skipping the inspection to look competitive. The due diligence period exists to protect you.
- Buying at the very top of your approval. Leave room for repairs, furniture and life.
- Ignoring a home's age. Much of Southwest Las Vegas was built in the 1990s. Check the roof, air conditioning and water heater.
How we help, and your next step
I'm Carrie Lu, REALTOR®, MBA. With first-time buyers, my team and I slow the start down so the end goes smoothly: every form explained before you sign, current prices for the areas you like, and updates at every step. Our first-time buyers page and how we help you buy have more.
Your next step is a conversation. Ask us anything or call 702-582-5788. No question is too basic.
This guide describes our general process. It isn't legal, tax or lending advice.
Frequently Asked Questions
What do I sign before touring homes in Nevada?
The Duties Owed disclosure and a buyer broker agreement, which is how you hire an agent to work for you.
How much earnest money will I need?
For our buyers it's typically $5,000 or 1% of the purchase price, held by the escrow company.
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