Your Lake of the Ozarks Mortgage Lender: Advantages of Buying a Vacation Home

Friday, April 26, 2019

Advantages of Buying a Vacation Home

There are a lot of second homeowners at the Lake of the Ozarks. In fact, of all people who own two homes in the Midwest, 40% own one of them at the Lake of the Ozarks! There are many reasons to own a vacation home at the Lake of the Ozarks, so we’re going to cover some of the most popular reasons, as well as some other great benefits for buying a Lake of the Ozarks vacation home.

Why Are Vacation Homes Being Purchased?

The National Association of Realtors (NAR) Investment and Vacation Home Buyer’s Survey from 2017 showed that there are three primary reasons people buy vacation homes.

42% said it was to provide a base for personal vacations and family retreats
18% showed that they wanted to create a home that would become their main residence after retirement.
12% stated that the home was priced competitively and they couldn’t resist.

Where are Vacation Homes Being Purchased?

The study above also noted where vacation homes were being purchased in comparison to where the primary residence was located. The most popular distance was 200 miles. Of course, there were 13% who lived less than 50 miles from their vacation home, while 21% lived 1,000 miles away or more.

The favorite locations for vacation homes were:
Beach - 36%
Lakefront - 21%
Country - 20%
Mountain - 14%
Ranch - 7%
Other - 3%

The benefit of having a home at the Lake of the Ozarks is that you can take advantage of several of these categories. There are beautiful lakefront homes at the Lake of the Ozarks, as well as places in the country, or nestled in our Ozark mountains.

Pros for Owning Your Own Vacation Home

There are many advantages to owning a vacation home, several of the “pros” include things like:
- You can be a part of the community
- You may receive tax advantages
- You could potentially do vacation home exchanges
- You can travel lighter
- It’s a great place to retire
- Vacation homes can be rented out when you aren’t using them
It’s all yours to decorate the way you would like

Ready to Buy a Vacation Home at the Lake of the Ozarks?

Summer isn’t official around here until Memorial Day Weekend, so there is still time to start the process before summer arrives. With several weeks of summer, it is never too late to buy your summer vacation home at the Lake of the Ozarks, and Team Lasson believes that it is the BEST time to get started. Visit our website to learn more about our mortgage company at the Lake of the Ozarks, or fill out your application. We look forward to helping you make your dreams a reality - the lake like is the best life!

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