Las Vegas New Homes Under $400,000

How Does This Page Decide What Counts as a New Home?

The MLS has no single "new construction" checkbox that every builder uses, so this page filters on the year-built field: homes with a year built of 2025 or later, priced under $400,000, in the city of Las Vegas. That is the same structured rule the site's other new-homes pages use, and it captures to-be-built and under-construction homes because builders enter the expected completion year. It also means a 2025 home that has already sold once and is back on the market as a resale will appear here; the listing remarks and the property history make that clear. The broader new construction guide uses the same year rule plus a remarks check across the whole valley without a price cap.

How Do Builder Incentives Work on Entry-Priced New Homes?

Builders in this band rarely cut the list price, because a lower closing price resets the comparable sales for every remaining lot in the phase. Instead they pay: a permanent or temporary rate buydown through the builder-affiliated lender, a closing-cost credit, or a design-center allowance for upgrades. The catch is that most of those incentives are conditional on using the builder's lender and title company, so compare the buydown against an outside lender's rate before you accept it. A 2-1 temporary buydown that lowers the first-year payment can be worth more than a permanent quarter-point on a buyer who plans to refinance; a permanent buydown wins for a buyer who will hold the loan.

Two things to read closely in a builder contract: the completion date and what happens if the builder misses it, and the appraisal clause, since a home priced with heavy incentives can appraise below contract. We negotiate both on every new-build purchase we represent.

What Do HOA Dues and CC&Rs Look Like in New Townhome Communities?

Every new townhome community on this page has an HOA, and most detached new builds under $400,000 sit inside a master plan with one as well. Dues cover the shared landscaping, the private streets, exterior maintenance on attached product, and in the larger master plans a community pool or park. Expect a townhome HOA to run higher than a detached master-plan HOA because the association maintains roofs and exteriors.

Read the CC&Rs for three things before you write: rental restrictions (some new communities cap the share of rented homes or require a minimum lease term), parking rules on private streets, and any builder-controlled period during which the developer still appoints the board. The builder's public report or the HOA resale package spells all three out.

Which Loans Fit a New Home Under $400,000?

FHA is the workhorse: 3.5% down on a $380,000 townhome is about $13,300, and the FHA loan limit in Clark County covers every home on this page. Conventional loans with 3% down are available to first-time buyers who qualify, and eligible veterans can use a VA loan with no down payment, including on townhomes in VA-approved projects. The Nevada Housing Division's Home Is Possible program can cover part of the down payment or closing costs for qualifying buyers. A buyer who wants the detached side of this market at a lower payment should also look at North Las Vegas, where entry-tier detached new builds are more plentiful, and at the Las Vegas new condos page for attached product that trades a yard for a lower price.