One thing that can really put a damper on the home buying process is finding a home you love, only to find out you can't afford it. When purchasing a home at the Lake of the Ozarks, your first step should be to get a loan pre-approval. Once you know how much you're able to borrow, you'll be able to create a realistic budget. In addition, you'll want to consider how much you can afford to pay monthly. Just because you get approved for a large loan amount, doesn't mean you can comfortably make those payments each month. The price of the home you purchase is a large factor that should be considered carefully.
2. Find a Great Real Estate Agent.
If you don't have a real estate agent in mind, your Lake of the Ozarks mortgage lender can recommend one. While you may feel like you can find a home on your own, a real estate agent brings expertise in the industry that you don't have. They are familiar with the local market, have access to properties just coming on the market, are good at negotiating and can walk you through the entire process, avoiding added stress during your home search. With the help of a real estate professional, you'll find the perfect home in no time.
After price, features are the next thing you'll want to consider. It's unlikely that you will find a home that has everything you want within your price range. Therefore, it's a good idea to create a features list before you start your shopping. You'll want to divide this list into sections: features you require and features you could do without if you had to. Consider the size of the home, the number of bedrooms and number of bathrooms. Be sure to keep your interests top of mind throughout the home buying process.
4. Consider the Location.
While the house itself may be most important, you'll also want to consider where it's located. How far is the home from your work? What school district is the home in? Is it considered a "safe" neighborhood? Consider the distance of the home from various activities you like to participate in. Do you want a home within walking distance to a park? Location is an important factor to be considered. Long commutes can add extra expenses that could possibly be avoided when purchasing a home in a different location.
If you are ready to start your home search, call 573-746-7211 to discuss a Lake of the Ozarks mortgage pre-approval. When it comes to your Lake of the Ozarks home financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve!
For Lake area news, resources and tips on financial services, please
Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
Cell: (573) 216-7258
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.