This is a lovely 3 bedroom home in Freeport situated on 2.5 acres of land on Baker Road. I am the listing agent and it is scheduled to close on January 15, 2008. Once it closes, I can provide you the sales price.
It still makes sense to own a house and here is why. You have a "Use" asset that depreciates over time, while it grows in market value. Naturally, you need to keep the home in good repair to maximize your return on investment.
For example, with a stock you put in all your money for a little piece of a company. With a house, you put down a small amount of money (small is debatable) and you get all of the house. What other investment can you put in 5 percent of the cost of the asset, reap all the appreciation and pay no capital gains? Of course you need to own the house for two years and for singles you pay no tax on capital gains up to $250,000. If you're married, you pay no tax on capital gains up to $500,000.
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