Tom Cruise’s Action-Packed Colorado Estate Lists For $50 Million
Kanebridge News
Share Button

Tom Cruise’s Action-Packed Colorado Estate Lists For $50 Million

The actor’s Telluride property is as action-packed as his films.

By Katherine Clarke
Mon, Mar 15, 2021 6:45amGrey Clock 2 min

Tom Cruise’s Telluride, Colorado, estate—which is full of sports-oriented amenities befitting an action star—is returning to market for approx. $50 million.

This isn’t Mr Cruise’s first effort to sell: Seven years ago, he tapped a real-estate agent to market the property for around $76 million, though it was never publicly listed, according to current listing agents Eric Lavey of LIV Sotheby’s International Realty and his colleague Dan Dockray. “I’m not sure [Cruise] was ready to sell it yet,” Mr Lavey said.

Ultra-private, the roughly 320-acre property is located at the end of a gated mile-long driveway that is surrounded by a forest of Aspen trees. It borders a national forest on three sides and is a few minutes downtown Telluride. Located on a hillside, the property sits at an elevation that allows the owner to look down on planes arriving at the nearby airport, the agents said.

“Everybody knows who owns this property, but you can’t see it from almost anywhere,” said Mr Dockray.

Mr Cruise spent several years designing and constructing the native stone-and-cedar home, which was completed in 1994. Roughly, 10,000 square feet, the four-bedroom house is designed in classic mountain style, with wood-beamed ceilings, wood-panelled walls and stone fireplaces. There is also a three-bedroom guesthouse on the property.

The activity-oriented features include a large sports court, a dirt bike and snowmobile track and an extensive network of trails for hiking, snowshoeing and all-terrain vehicles. There is also a spa, an office and a three-car garage.

A spokeswoman for Mr Cruise didn’t respond to a request for comment on his reasons for selling. The listing agents said they believed the actor hadn’t used the house in quite some time. They noted that the market in Telluride has been extremely active over the past few months as a result of the Covid-19 crisis, with buyers coming in from major cities across the country.

“People sat down during this lockdown and said ‘What am i doing with my life? I want a better lifestyle,’” Mr Dockray said.

Mr Cruise, 58, has appeared in movies like “Top Gun” and the “Mission Impossible” franchise. He has recently been filming in Europe.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
How much income is required to service a mortgage? It depends on where you live
By Bronwyn Allen 25/04/2024
Property
A Dramatic London Home in a Former Chapel That Starred in ‘Call the Midwife’ Is Renting for £39,000 per Month
By LIZ LUCKING 24/04/2024
Property
On the Market for the First Time, This Hamptons Beach House Is Listed for Nearly $26 Million
By CASEY FARMER 23/04/2024
How much income is required to service a mortgage? It depends on where you live

New research suggests spending 40 percent of household income on loan repayments is the new normal

By Bronwyn Allen
Thu, Apr 25, 2024 3 min

Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.

Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.

“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.

CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.

Sydney

Sydney’s median house price is $1,414,229 and the median unit price is $839,344.

Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.

Melbourne

Melbourne’s median house price is $935,049 and the median apartment price is $612,906.

Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.

Brisbane

Brisbane’s median house price is $909,988 and the median unit price is $587,793.

Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.

Adelaide

Adelaide’s median house price is $785,971 and the median apartment price is $504,799.

Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.

Perth

Perth’s median house price is $735,276 and the median unit price is $495,360.

Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.

Hobart

Hobart’s median house price is $692,951 and the median apartment price is $522,258.

Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.

Darwin

Darwin’s median house price is $573,498 and the median unit price is $367,716.

Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.

Canberra

Canberra’s median house price is $964,136 and the median apartment price is $585,057.

Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
How China Miscalculated Its Way to a Baby Bust
By LIYAN QI 13/02/2024
Lifestyle
The Newest Must-Have Home Amenity for the Rich: Purified Air
By ALINA DIZIK 07/03/2024
Money
Men Used to Have Wives. Now They Have Stylists.
By JACOB GALLAGHER 15/02/2024
0
    Your Cart
    Your cart is emptyReturn to Shop