For the past week it seems we have been barraged with bad news about new and existing home sales, the recovery of the real estate market, and the lack of future return on real estate investments. Just yesterday, David Streitfeld, penned a column in The New York Times, that defined in depth the woes of the”turmoil in housing”.
Reading that article got me thinking about a recurring theme of mine. Although, we often treat real estate as an investment, buying a primary residence or second home should be about what it offers…..shelter, security and pleasure.
Clearly, we want a place to live, that is ours. If possible, we choose to live in places that allow us to pursue an idyllic life. Since often times work and lifestyle don’t perfectly blend in a single place, alternate locations from work allow for escape, relaxation and playfulness, or opportunities to divorce ourselves from daily routines.
As pointed out in the aforementioned article by a recent homebuyer, purchasing a home currently is buying “an illiquid asset, a long-term asset. Choose a place you’ll be able to or want to stay for a long time, to ride out any trouble.” Take into account the intrinsic value, or enjoyment, if you will, and if you are able to convert asset into lifestyle, then the value becomes immeasurable.
I believe we have that here, in Steamboat Springs, Colorado! For more information about Steamboat, call or email:
Anne Mayberry 970.846.1425