Buying a Home Is Still a Smart Plan

Lora Davis
 


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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.

Real estate Telluride, just like any other market, has definitely had its fair share of ups and downs; that alone doesn’t 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.

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.

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.

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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