It is said in the news that a home's value, on average, doubles every 10 years! That is a good investment return! Not only that, the benefits of home ownership are numerous.
First, you have a place you own, a place to live. Second, you have tax deductions in the form of property taxes and mortgage interest. And, when you think of the average increase in value of 100% over a ten year period, buying a home is a very wise investment.
The added beauty is that you can sell your primary residence once every two years and not pay any taxes on the gain! If you don't want to sell every two years, you can wait and rent the property out for awhile, and as long as the property was your primary residence for at least two of the previous five years, any gain is yours tax-free. I cannot think of any other "investment" that permits earning such money without giving the IRS a share.
I also see ads all over the Denver metro area for builders discounting new homes by as much as $129K! One ad showed an original price of $429K+, and that homes is now being offered at $299,900! Incredible. If you have been looking, today may be the time to make the deal!
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