Are you considering purchasing a
vacation home at the Lake of the Ozarks? Investing in a second home has a lot of great benefits, from always having a place to stay to extra income. Today's blog discusses some of those benefits of owning a Lake home.
1. There's Always a Place for You to Stay.
One of the challenges of vacationing is finding a place to stay. When you own a
second home at the Lake of the Ozarks, you always have a place to stay when you want to come for a visit. While we have a great selection of
Lake of the Ozarks vacation rentals that you could choose from, there's something special about not only coming back to the same place each year, but also knowing it's yours. You can use it anytime you want - allowing you to come visit the beautiful lake area even more often. You'll create a home away from home where family memories can be made!
2. Less Packing for Your Trip.
When you come to the Lake of the Ozarks, there's a lot of extra "stuff" you typically bring with you. You need beach towels, water toys, paper products, toilet paper, condiments, etc. If you own a home at the Lake, you can leave a lot of those items in the home, which cuts back on the amount of stuff you need to pack and bring with you. Keep all your lake gear at the lake instead of dragging it back and forth all the time.
3. Extra Side Income.
If you choose to rent out your Lake home to other vacationers when you're not using it, you can make some side cash to offset the cost of owning a second home. While you don't want to depend on this income to pay your mortgage, you can consider that rental income when crunching the numbers to determine if purchasing a home at the Lake is a good financial investment for you. Depending on how many times you visit the Lake area each year and how much you pay for accommodations, you could actually save money in the long run by investing in real estate at the Lake of the Ozarks.
4. Tax Deductions.
Just like with your primary residence, owning a second home comes with some tax benefits as well. Depending on the number of nights that you used your home for personal use, you might be able to deduct "operating expenses" for your vacation home. You will need to talk to a tax professional to learn all the details, but it's another possible benefit of owning an investment property.
5. Get a Jump Start on Retirement.
If you eventually plan to retire at the Lake of the Ozarks, why not start now? You can start with more regular vacations and create community ties that will help you with a smooth transition down the road. You can consider it a trial run to determine if it's really where you want to retire. It gives you time to build friendships and other relationships, get involved in community activities and more.
When looking to purchase
vacation property at the Lake of the Ozarks, be sure to consult local professionals. If you're planning to rent out your home or condo to vacationers, you'll want to consult a local
property manager at the Lake of the Ozarks. Find out what types of properties rent best, what you need to be looking for and how many rental nights you can expect. Give
Your Lake Vacation a call at 573-365-3367 with any questions you may have.
For more information please call us toll free at 1-877-284-0267!!
4571 Osage Beach Pkwy, Suite A
Osage Beach, MO 65065
Local - 573-365-3367
Fax - 573-365-5076
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