Buying a Home Is Still a Smart Plan

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Buying a Home Is Still a Smart Plan
The burst in the housing bubble, millions of
foreclosures and the current credit crisis have
made millions of potential investors in Telluride
real estate wonder if trying to buy Telluride
area homes is a good idea after all. The better
thing that anyone could do is to do a thorough
Telluride real estate market analysis so they can
get all the facts. The most important message
that any investor should be taking from the
ongoing invents may not be that buying Telluride
properties is a bad idea, but that you need to
play your cards well when you are buying a home.
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Real estate Telluride, just like any other
market, has definitely had its fair share of ups
and downs that alone doesnt make the idea of
buying a home a bad investment. If you are
thinking about a long-term investment, you will
not get anything that will ever be better than
home ownership and especially individual
households. Since time immemorial, Telluride real
estate has increased in value consistently even
when there have been occasional short periods of
depreciation as a result of local markets and
sometimes national economic conditions despite
all the prevailing facts, Telluride area homes
have continued to appreciate about 5 annually.
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Savings and investment For the casual observer,
five percent may not look like such a great
return on investment. Let us say for instance
that you have put some 10 down on a 400,000
this means some 40,000 down payment which will
be your initial investment. With a minimum
appreciation of only five percent annually, your
400,000 investment will bring in some 20,000
which is a whole 50 of your 40,000 down
payment. On the contrary, if you had put down the
same 40,000 that you placed as a down payment in
the stock market where you have a 5 return you
will only end up with 2000 in profits.
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Tax benefits The other thing that you want to
think about when you are considering your return
on investment in regards homes for sale Telluride
is the issue of taxes that are associated with
home ownership. You want to remember that your
property taxes in addition to the interest on
your mortgage are actually tax deductible. This
means that you should be able to deduct these
costs from your income thereby helping to reduce
your overall taxable income this means that the
government will actually be subsidizing your
Telluride home.
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Other benefits While most people will easily get
carried away by all the economic benefits that
are associated with Telluride area homes for
sale, you want to remember that there are other
benefits that go beyond the financial reasons. If
you ever wanted to paint that apartment where you
pay rent you very well know that you cannot or
think about those times when there are things
that need to be updated but they will stay simply
because the landlord is not up to it. Apart from
having more space, ski in ski out Telluride
brings all the fun of winter sports that people
pay thousands of dollars to enjoy outside your
backyard.
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237 South Oak Street, Telluride, CO 81435
970.708.2157
Contact Mike Shimkonis
www.tellurideareahomes.com