5 Benefits of Owning a Second Home at the Lake of the Ozarks

With the market booming and interest rates still low, now is a great time to think about investing in real estate at the Lake of the Ozarks. Not only is the Lake of the Ozarks a great place to live full-time, but the area offers an amazing location for second homeowners as well. Keep reading to learn some of the benefits of owning a second home at the Lake of the Ozarks.

1. The Convenience of Always Having a Place to Stay on Vacation.

The Lake of the Ozarks is the premier vacation destination in the Midwest. In fact, it was voted the #1 recreational lake in the country! If you love vacationing at the Lake of the Ozarks and find yourself here multiple times, year after year, you might consider purchasing a second home at the Lake of the Ozarks. Rather than searching for a hotel, motel or rental home each time you make the trip, you'll have a great place to stay every time you're here. You can even leave items such as watersports equipment, boating accessories, and common household items in your home to simplify travel and packing. Returning to the same place time after time can also be comforting; you're able to create a home away from home, a place you can be yourself.

2. The Advantage of Tax Deductions.

Being a homeowner has its advantages when tax time rolls around. Owning a second home can also offers some of those benefits. If your home sits unoccupied when you're not using it or if you rent it out for no more than 2 weeks per year, the interest on the mortgage and the property taxes are fully deductible. For tax purposes, you can treat the mortgage on your second home the same way you would the one on your primary residence. Talk to your tax professional for more information on the deductions you would be able to take as a second homeowner at the Lake of the Ozarks.

3. The Possibility of Rental Income to Offset Costs.

You aren't the only one that loves to vacation at the Lake of the Ozarks. Year after year, people from across the country vacation at the Lake of the Ozarks and need a place to stay. When you own a second home, you have the ability to rent it out to other vacationers. You can easily offset some of the expenses of owning a second home by renting it out during the times you're not using it. Depending on how often you use the home yourself, you might even be able to deduct operating expenses. Again, you'll want to talk to your tax professional about this. 

4. The Fact that You Have a Place to Retire To.

The Lake of the Ozarks is a great place to retire. From the beauty of the Lake to the exquisite golf courses and other activities available, this area has a lot to offer. Buying a second home prior to retirement enables you to experience the benefits of the area and makes it easier to move when you are ready to retire. A common retirement goal is to have a place of retreat, and the Lake of the Ozarks is the perfect place to sit back and relax!

 5. The Ability to Get the Entire Family Together.

If your family is spread out across the country, owning a lake home offers a great place for family to gather. The central location of the Lake of the Ozarks, along with all the recreational activities available, makes it the perfect place for family reunions and annual parties. You can create traditions that bring your family closer together. The memories made in your Lake of the Ozarks home are something you can cherish forever.

If you're in the market to purchase a home at the Lake of the Ozarks, Fran Campbell Team is here to help! We are your Lake of the Ozarks real estate experts, focused on giving you the best possible home buying experience. Our team has the knowledge, experience and dedication that it takes to get the results you are looking for! Give us a call at 573-302-2390 to start house hunting today!

Contact the Fran Campbell Team to schedule a showing!


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