It’s a new year: should you buy a new home?

When we turn our calendars over to the new year, it's a time to reflect on what the future has in store for us. In Las Vegas, the last weeks of 2015 brought with them a bright outlook on our economic picture — with unemployment rates that continue to drop and construction still on the rise.

Front and center is the new T-Mobile Arena — accompanied by new Strip casinos, the Convention Center expansion, the new Henderson Medical Center and even a long-awaited IKEA. Take a look around: It's clear that Las Vegas has bounced back stronger than ever.

Or has it? With all that growth comes the knowledge that salaries aren't going up like they used to. And bonuses are smaller than they used to be — if they exist at all. When all the facts are laid out, a question remains for many: "Is this a good time for me to buy a home?"

"Timing is everything in life, and the only way to answer that very personal question is with a very personal assessment of your current situation," said According to Rick Piette, owner of Premier Mortgage Lending. "If you're renting a home now, or are presently a homeowner considering upsizing or downsizing, I believe it's an excellent time to purchase a home.

"Why?" he asks. "Because we can't act in hindsight. The only way to make informed decisions like this is to evaluate what we do know about what may affect the outcome. In this case, that means taking a realistic look at the Las Vegas economy, its current growth, and the state of both the real estate and lending markets.

"A consistent factor in the Las Vegas real estate market — since the start of the recovery after the great recession — is that value has returned at a slow and manageable pace," Piette said. "That's not true in some major metropolitan areas where home prices rapidly overheated, and which can indicate a potential 'bubble' situation."

"But in Las Vegas, homes made a steady and sustainable return year after year. The big banks finally began feeding the pipeline with a constant trickle of new supply by moving foreclosed properties from their portfolios into the marketplace. When you combine all these factors, you see they've played a key role in keeping real estate values equalized."

Piette goes on to add that "The last two pieces of the puzzle are this: Rents continue to rise (making it more affordable by half to own a home rather than rent); and there is now potential for mortgage interest rates to increase based on The Fed's most recent move.

"So to a large extent, it all boils down to the numbers. Calculate your current expenses and compare them to the cost benefits of owning a home. Owning can mean lower monthly payments and overall living costs. That's especially true now, before prices and interest rates rise. And remember — for the past 70 years, the main source of wealth accumulation in America has been through ownership of real estate."

The cost of getting into a home is one area where Premier Mortgage Lending brings real value to its customers. Home of the true "No Fee" mortgage loan, at Premier buyers are able to get into a home with less money out-of-pocket because they charge no lender fees on traditional loans. That means no loan origination, document prep, underwriting or processing fees.

"Saving on those fees alone means our buyers avoid paying as much as $8,000 out-of-pocket at closing," Piette said.

The greater Las Vegas metropolitan area is home to nearly 2 million people, and as a vital city — it's here to stay.

"When I think about our local economy, I envision a pot filled with delicious ingredients. Last time, we "overheated" it too quickly and a great recipe was damaged. Now, we're cooking it up slowly, deliberately, and most important — wisely. This time, I believe we're all going to enjoy what's in that pot a lot more."

For additional information , call 702-485-6600. Or, apply online at www.premiermortgagelending.com. To discover facts on mortgage loan costs, visit www.KnowBeforeYouOweNevada.com.

Premier Mortgage Lending, NMLS No. 393282, is at 701 N. Green Valley Parkway, No. 125, Henderson. The full-service lender is a member of the Las Vegas and Boulder City chambers of commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.