Why buy or invest in Lake of the Ozarks real estate?
The forecast for the second home market is warm and sunny! Americans will purchase 3.6 million second homes over the next 10 years. That's 1,000 per day. Second-home sales comprise over 1/3 of all existing single-family, condo and new home sales.
Top 12 reasons why now is the best time to invest in Lake of the Ozarks real estate:
1. Baby Boomers - As baby boomers reach their peak earning years and enter the ranks of the pre-retirement buyers, their 24/7 lifestyle demands a place to get away. As the demand rises, so does the potential for increasing values for those who get in on the ground floor.
2. Lifestyle Equity that's easy and fun! - Second home/condo buying is easy and fun, much more so than stocks, bond and mutual funds. In terms of building wealth, it could be one of the most secure investments you make. The lifestyle equity a vacation home offers is unbeatable. It's an investment that returns in many ways in addition to financial. It's a place to retreat, relax and recharge. The value that second home buyers and their families receive in the form of enjoyment and memories is priceless.
3. Boating Paradise - Boating on Lake of the Ozarks is an experience you will never forget. With 1,150 miles of meandering shoreline, the lake provides room for small fishing boats to large cruisers, from the busy main channel to the quiet, protected coves. Water skiers, wakeboarders, wave runners, cruisers, yachts, houseboaters, pontooners, fishermen - if you love to boat, you'll love Lake of the Ozarks.
4. Golf - Golf and shopping are a close second and third to water sports as a draw to the lake area. A dozen golf courses from basic to championship have created a golf hot spot, as evidenced by articles in national golf magazines, with courses designed by Arnold Palmer, Jack Nicklaus, Tom Weiskopf and Robert Trent Jones.
5. Shopping and Other Good Stuff to Do -- The lake area is now a Midwest shopping destination, with gift shops, boutiques, antique shops and the renowned Premium Outlet Mall with over 100 shops. Fall and winter bring Christmas shoppers as we light it up with over a million multi-colored bulbs each year. The lake has always been noted for good food and abundant restaurants. "Dock&Dine" is a favorite way to close a fun day on the water at one of many lakefront restaurants. Spas attract men and women alike. Family fun includes miniature golf, go-carts, Miner Mike's, Big Surf outdoor waterpark, and Timber Falls, Tan-Tar-A's new indoor waterpark.
6. Affordable Prices - If you compare property prices with other recreational areas on the Gulf Coast, Lake Tahoe, Lake Okaboji, or the Great Lakes, you will understand what a great value and opportunity we have in the center of the Midwest.
7. Own to the Shoreline - Since Lake of the Ozarks is not a Corp of Engineers lake, property is owned to the shoreline, allowing owners to have private docks, just steps from their homes.
8. Location, location, location - Buyers want a second home or condominium within comfortable driving distance of their primary residence. Lake of the Ozarks is approximately 165 miles from both St. Louis and Kansas City, easily reachable for weekend trips. It's surrounded by 6 airports, so pilots can choose the best airstrip for their private planes.
9. Favorable Economic Conditions - Interest rates have been at an historic all-time-low. Second home mortgage money is easy to acquire.
10. Low Property Taxes - Many home buyers are pleasantly surprised at how low our taxes are compared to other areas. Just one more plus.
11. Second Home Tax Breaks - Mortgage interest and property taxes on a second home are likely to be tax deductible. And if you borrow money on a home equity loan for your down payment, that too may create a tax deduction. If you rent out your second home or condo, you may be able to deduct rental expenses and depreciation. Tax laws are complex and constantly changing. Be sure to consult with your tax advisor regarding deductions and the best way to take advantage of owning a second home.
12. Appreciation - "If only I had bought 10 years ago" is a frequent lament. Lake of the Ozarks is receiving national exposure as one of the top recreational areas for investment, poised for unparalleled growth over the next decade. Timing is key to investing, and 10 years ago is the only time better than today.
Lake of the Ozarks - it's not just a summer place anymore!