Real Estate Lake of the Ozarks

Building equity in your home is incredibly important and valuable. Simply put, "equity" is the amount of home you actually own. In order words, it is the difference between your home's actual market value and the outstanding loans you still have against the property. For example, if your home is worth $200,000 and your mortgage loan still has an outstanding balance of $160,000, you have $40,000 of equity in your home. Home equity is a valuable asset to have for many reasons. If you are short on cash, you can use it to take out a home equity loan. This is a loan against the amount of property you actually own. (To go with our previous example, this would be $40,000.) You can also use the equity in your home to put towards the down payment on your new home or to fund your retirement. So, how do you go about building equity in your home? Here are a few tried-and-true strategies. 1. Shorten Your Mortgage Term If you're looking for ways to pay off your home loan...

When you think of the perks of owning a home, what comes to mind? Many people think of a place to raise a family, a valuable financial asset, and a place to call your own. While these are certainly all wonderful benefits of owning a home at the Lake of the Ozarks , the benefits of homeownership extend far beyond these. Fran Campbell Team is here to look at some of the many intangible benefits of owning your own home. A Sense Of Belonging As a renter, you may feel like your place in the community is fleeting. You may only plan to live there for a few months or a few years, depending on your career path and unpredictable financial changes. Because you don't plan on being there for long, you may not take the time to become fully invested in your local community. As a homeowner, however, you probably plan on living in your home for several years (if not the entire foreseeable future). As a result, you're likely to become more invested in your community, taking steps to ge...

Buying a home is undoubtedly one of the biggest decisions you'll make in your lifetime. It requires significant financial responsibility, but it enables you to invest in your future . Owning your own home can deliver countless rewards not only financially, but also mentally and emotionally.  Fortunately for all the prospective home buyers out there, the real estate market is in prime position for buying - especially at the Lake of the Ozarks ! Mortgage Rates Are Still Low But they are rising! Keeping Current Matters wrote an excellent article  describing how even a slight difference in the interest rate can have a dramatic impact on your wallet. Once you add in the steady appreciation of houses due to inflation, the exact same house could end up costing almost $500 more per month in only one year's time. Prices and mortgage rates are projected to continue rising, so you may be better off making your purchase sooner than later! Table taken from www.keepingcurr...