Loma’s Most Expensive House is On the Market Right Now
How about relocating to the serenity of Loma, Colorado? Do you enjoy a little acreage to go along with your dwelling? The most expensive property in town is up for sale, and it has your name written all over it.
Would you happen to have an extra $1,750,000.00 hanging around? Pocket change, right? This home, located at 1445 16 Road, offers quite a bit to the prospective home buyer. According to Realtor.com, the house includes:
- 3 bedrooms
- 2 bath
- 2008 square feet
- 181 acres of land
- 4 car garage
I don’t know about you, but personally, I don’t even know what 181 acres looks like. I’ve spent my life in apartments and houses on 1/4 acre lots. There was, of course, the year I spent living in a van, be we won’t go into that.
This is a good sized house on a whole bunch of land. Many people trade in the big city life to relocate to Loma. I can think of at least one family who has done this very thing just this year.
Let’s crunch the numbers. As a slumlord, I mean landlord, I get off on these kinds of things. If one were to put 15% down on this property, the down payment would come to $262,000.00. The remaining mortgaged balance would come to $1,487,500.00. Assuming you have a decent credit score, your monthly payment on a 30 year fixed mortgage would be $6,888.00. According to the mortgage calculator at SoFi, over the life of the loan you would pay $992,485.00 in interest. You’ll have this baby paid off in December, 2047.
If you’re looking for the country life, there’s certainly no need to go for a house with this much property. The more land you have, the more you have to take care of. If the wide open range is your thing, then maybe this is the house for you.