The Real Cost Of Owning a Home

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The Real Cost Of Owning a Home
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It is amazing that in todays property market,
there are mortgage payments for homes in downtown
Telluride that actually rival monthly incomes.
Even though this could be the case where you are
coming from, you want to know exactly what you
are walking into this is because there are costs
associated with home ownership that everyone that
is interested homes for sale Telluride needs to
know about this is because these many costs are
what pose as a challenge to most people who are
that are doing Telluride real estate search.  
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When you choose to buy Telluride homes you
require a good amount of cash upfront so as to
take care of some additional charges such as down
payments, closing costs etc. all of which may
range from 3 percent for government loans through
the Federal Housing Administration to as far as
20 percent for conventional loans. This is a lot
of cash that you must decide whether you can be
able to handle and whether you will still be left
with some reserve cash for emergencies such as
accidents of if you  lost your job in the worst
case scenario.   
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Normally monthly payments for homes for sale
Telluride will consist if the principal and the
interest both of which are determined by the
purchase price and the interest rate as well as
home insurance and property taxes. When you are
calculating your home ownership charges, you
should also include other monthly bills including
utilities, cable/internet/TV and general
maintenance charges. If you are buying a
townhouse or a condo, you are also going to
factor in a monthly homeowners association fees
as well as any other assessments.  
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When you are search Telluride real estate, you
should always be looking for a house that will
fit you for at least the next five years develop
a vision of yourself and your family and ask
yourself where you want to be so that you dont
spend time and resource on a Telluride home that
you are going to outgrow.
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There are hundreds of homeowners who went for
homes for sale in Telluride because of the
prevailing tax credit and they make great
purchases but after they have owned the home for
a few months or years they soon realize that
their status has changed and the place is no
longer good for them.
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When you are doing Telluride real estate search,
you therefore want to get a home that doesnt
just fit your current stage in life but one that
also takes care of your next stage in life dont
make the mistake of looking at homes for sale
downtown Telluride as only an investment and not
necessarily a pace where you can live and grow
old. Thinking that you will simply relocate to
the next big house when current one becomes
smaller is something that is always easier said
than done. 
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Telluride CO real estate Mike Shimkonis
Telluride 237 South Oak Street, Telluride, CO
81435Call us 970.708.2157http//TellurideArea
Homes.com