5 Tips to Make the Process of Buying a House at the Lake of the Ozarks Easier and More Successful

Thoughts of living the lake lifestyle just won’t go away and now you are ready to make it a reality!  At Arrowhead Title, we have helped people attain the lake lifestyle since 1984, and it is still as fun today as it ever has been. Being a part of real estate closings at the Lake of the Ozarks for so long, we have learned a lot about how to make the process easier and more successful for our clients.  If you are thinking about buying a home in the lake area and would like to learn more, keep reading this blog for ways to be better prepared when buying a house at the Lake of the Ozarks!  

1) Set a Budget.

It is easy to just think about the monthly mortgage payment when deciding what you can afford when buying a home, but there are other costs involved.  You will want to remember things like down payment, inspection fees, title insurance, and other closing costs.  There will also be recurring costs after you have purchased the home such as homeowner’s insurance, home maintenance, real estate taxes, etc.  You may even need an emergency fund since you will not have a landlord to fix things when they break.

2) Get Prequalified.

Houses are selling very quickly in today’s market.  Getting prequalified on your mortgage is essential when making an offer.  There is simply not enough time for you to do it after you make an offer, someone else will most likely get the house before you.  Some sellers won’t even consider your offer if you aren’t prequalified.  So, contact your mortgage lender for prequalification or preapproval.  Doing so will also give you a picture of how good your credit is and what you can afford to finance in a home.

3) Watch Your Credit.

Before and during the homebuying process, it is very important not to do anything that can hurt your credit.  Your credit score will affect how much you are qualified to borrow and the interest rate you will pay, which can really add up over the life of your loan.  If there are errors on your credit report, you should correct or dispute them.  Don’t open any new credit cards or lines of credit, and don’t close any credit cards or lines of credit you already have open.  Keep the balances on your credit cards low and try to maintain a low debt to income ratio (less than 40% is best).

4) Consider Lifestyle

Do you prefer action and excitement or peace and quiet?  Are you more into speed boating or wakeboarding or paddleboarding?  When you buy a home at Lake of the Ozarks, the lifestyle you want to enjoy will determine where on the lake you should locate.  If you want peace and quiet, you will not want to locate in the middle of all the action (and vice versa).  If you want to have lake access, you can limit your search to only include homes with nearby access to the lake.  It is also good to think about your commute.  The roads are entirely based around the lake and the lay of the land.  Sometimes it is a very long drive (or toll bridge fee) to get only a short distance away.  So, consider the drive to school, work, grocery stores, etc. when deciding on the area within which to search for your new home

photo credit: Fun Lake MO

5) Choose Trusted Real Estate Professionals

A trusted real estate professional at the Lake of the Ozarks who is familiar with the area can be your greatest asset in the process of buying a house here at the lake.  From your realtor to your title company at the Lake of the Ozarks, you need someone on your side who has knowledge of the area, experience in the industry, and dedication to accuracy. 

Happy House-Buying From Arrowhead Title!

Buying a home at the Lake of the Ozarks is the best feeling EVER!  We want the experience to be as stress-free and successful as possible so you can get settled in your new home and start enjoying the lake and all that comes with it.  If you have any questions about the closing process, escrow, or title insurance at the Lake of the Ozarks, give us a call.  We are happy to help.  For more information about real estate at the lake, follow us on our social medial channels listed below!

Where Accuracy Matters!


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