There are several benefits to buying Frisco CO real estate, and you may consider a move to Frisco if you want to live in a great area that has many recreation opportunities (especially skiing and snowboarding and winter sports), and is one of the best resort communities in the West. It is located in the heart of Summit County and is in a central location that makes it perfect for a second home location and is near many great options for dining and vacation activities. If you purchase Frisco CO real estate you can enjoy everything that the town has to offer without having to pay expensive fees for a hotel, and you can stay in your second home whenever you want while renting it out.
You can rent your Frisco CO real estate purchase and also use it for vacation
A great benefit of buying Frisco CO real estate is that you can rent it or use it for vacation as well. You can stay in your home up to 15 days per year even if you use it as a full time rental and you can receive all the best benefits of owning a rental including tax deductions for your expenses. When you rent your Frisco CO real estate you can end up saving a substantial amount of money on your mortgage and other home ownership costs because Frisco is often very busy during the skiing season and during the summer, and rentals are snatched up very quickly from visiting skiers.
Frisco CO has numerous events
The town of Frisco is a resort town and it hosts numerous events throughout the year, especially during the winter and summer. Similar to nearby towns like Breckenridge, Frisco holds dozens of outdoor recreation activities and events including the Gold Rush ski race, 4th of July events, bicycle rides, historic park lunchtime lectures, and many other events. There is something going on literally every month of the year, but the most eventful months are December and June. Frisco CO real estate is always close to the action no matter where you buy it, and you can enjoy any of these events when you own a home, while also receiving an income if you rent it.
You can pocket your rental income tax free if you rent for 14 days or less
If you only rent your Frisco CO real estate purchase for 14 days out of the year or less, you can pocket your earnings without taxes. The IRS does not care about taxing your rental income if you only rent your home for 14 days maximum, even if you charge $200 per day or more. However, if you rent your home for more than 14 days you will be required to report your rental income, so keep that in mind. Also, if you stay in Frisco CO real estate purchase for more than 10% of the time that it is rented or longer than 15 days, then it may lose some tax deductions because it may not qualify as a full time rental.