5 Great Perks Of Having A Second Home At The Lake

By Fran Campbell - February 24, 2016

The secret is out - the Lake of the Ozarks is a GREAT place buy a second home! People come from all over the Midwest (and many other surrounding states) to vacation here, and many of them choose to buy a second home at the Lake of the Ozarks. If you have been toying with the idea of getting a vacation home of your own, Fran Campbell Team would be more than happy to help you make it happen. Here are a few reasons why buying a vacation home at the Lake of the Ozarks might be one of the best decisions you ever make.

Photo Credit: FunLake.com

1. You're Guaranteed To Have A Place To Stay
Between Memorial Day and Labor Day each year, approximately 3.5 to 4 million tourists visit the Lake. With so many vacationers making their way down, much of the available lodging fills up fast. As the owner of your very own second home, you'll never have to worry about booking reservations for your trip in advance. Because you have a home of your own waiting for you, you can come down whenever you'd like, even for spontaneous weekends or day trips!

2. You Can Rent Out The Property For Extra Income
If you aren't planning to visit the Lake as much yourself, you don't have to let your home sit empty. By renting out your property weekend visitors, you can earn a little extra income and enjoy knowing that you've played a part in helping someone else make great memories. If you don't plan to visit your second home for an extended amount of time, you can also consider long-term lease options as well. In many situations, you can use the long-term leases to cover your second mortgage payment entirely - and possibly even make a little extra money in the process.

Photo Credit: FunLake.com

3. You'll Know The Lake Like One Of The Locals
One of the benefits of living full-time at the Lake of the Ozarks is that you learn all of the best places to eat, the best places to shop, and the best times of day to be out on the water. As the proud owner of a second home, you'll get to spend almost all of your free time here - and it won't be long before you've picked up on many of these insider secrets! Why limit yourself to the exposure the average tourist gets when you could get to enjoy the Lake to its absolute fullest?

4. You'll Save Money
As an avid "weekender," you're probably used to visiting the Lake every weekend that you can. If you have to pay to rent a hotel room or condo every night that you're here, that money will add up fast. If you're staying in a hotel, you probably won't have access to a comfortable kitchen, which means you'll be more likely to eat out more. Restaurant tabs can also add up quickly. You'll also have to spend much more in gas when you haul your boat to and from the Lake with every trip. Obviously there is a lot of money that goes into your initial home or condo purchase, but if you plan on visiting the Lake frequently for many years, you may ultimately save money in the process.

5. You Get To Claim Additional Tax Deductions
Paying a mortgage gives you an automatic tax deduction; you can deduct all the money paid on interest. The same applies to your second mortgage. The only stipulation is that in order to deduct the money you put towards interest, you are not allowed earn money from renters for more than two weeks out of the year. If you rent your property more time than this, you will likely not be allowed to claim the deduction.

Convinced? Contact Fran Campbell Team To Start Your House Search Today!
Ready to start claiming some of the awesome benefits of having a second home at the Lake of the Ozarks for yourself? Give us a call and we can help you find your very own vacation home. If a Lake of the Ozarks waterfront condo is more your style, we can help with that too! Visit our website to learn more about how we can help you with all aspects of real estate at the Lake of the Ozarks.

Contact the Fran Campbell Team to schedule a showing!