Tuesday, June 2, 2020

The Best Time to Buy a Lake Home

The question that is burning on everyone’s mind, "When is the best time to buy a Lake home?” There are many factors at play when it comes to choosing a time to buy, and they could depend on the market, what is available, and even the interest rates. Let’s take a look at some of these factors to help guide you into the best choice for you and your buying needs.

Things to Remember When Buying During Peak Season

There can be many highlights to purchasing a home during the peak season. For the Lake area, peak season runs from Memorial Day to Labor Day, with a little padding on the ends. One of the most popular reasons for purchasing during the peak season is because there are generally more homes on the market. However, this year is a little different. Not only are there often more to choose from during the peak buying season, but due to current events, the interest rates are fantastic.

There are, of course, a few cons to purchasing a vacation home at Lake of the Ozarks during the busy Summer season. Greater demand can also bring more competition, and more competition can increase the price of a home. Homes also sell a lot faster during the peak season as everyone wants to get a contract on their favorite listing before any others do. You may also find the prices are higher during the peak season because of the higher competition. 

Things to Remember When Buying During the Off-Season

Off-season at Lake of the Ozarks is through the later Fall months into early Spring. Obviously, there is still traffic all through the year as different hobbyists and homeowners enjoy the quiet serenity of the Lake through those months, but it is definitely more toned down. Some of the pros of buying during the off-season are that you can generally get a home with very little competition. Most people are not thinking about buying a vacation home at Lake of the Ozarks during the Winter, so you should not have the same level of bidding wars during this time of the year. Purchasing a Lake home during the Winter also allows you to see what the area looks like when things are slower and more relaxed. Granted, with the holidays happening there is still a lot going on at the Lake, but it is certainly not like busy Summer weekends.

Some downsides to purchasing a vacation home in the Winter can be as simple as not being able to tour the home when scheduled because of weather. Lake levels are also generally lower through the off-season and the wildlife and plants are hibernating, so the environment definitely has a different feel than it does during the hustle-bustle of Summer.

When Do You Want to Buy?

In the end, the best time to buy a vacation home at Lake of the Ozarks comes down to two things.
  • When are you ready to buy?
  • What homes are available?

If you have the money ready, and there are a few homes on the market that look like they could be perfect for you, then NOW is the best time to buy! Team Lasson has been assisting so many homebuyers as they secure their dream vacation homes this Summer. Interest rates have been phenomenal, so if you have been considering the purchase of a vacation home, there is no time like the present. You can visit our website to learn more about us at Lake of the Ozarks or fill out an application to get started!

For Lake area news, resources and tips on financial services, please 

Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

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