Benefits of Owning a Vacation Home!

By Fran Campbell - November 15, 2018

It's no secret that the Lake of the Ozarks is a hot spot for 2nd home living in Missouri. People from all over Missouri, surrounding states, and the mid-west have invested in vacation property at the Lake of the Ozarks. With all of the existing vacation homes, have you ever wondered why so many people choose to purchase a vacation home at the Lake of the Ozarks? Our team of real estate agents at the Lake of the Ozarks has put together a few reasons buying a vacation home may be a great fit for you and your family.

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.

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?

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!

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.

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 to 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.

Contact The Fran Campbell Team!

If you are thinking about jumping on the bandwagon and buying a second home at the Lake of the Ozarks, give The Fran Campbell Team a call. We can help you find the vacation of your dreams! Now is the perfect time to start looking so you will be ready use your vacation home when the weather warms up this Spring! Our team of real estate agents at the Lake of the Ozarks is here to help you every step of the way!

Contact the Fran Campbell Team for your real estate needs!