5 Tips to Make Buying a Home at Lake of the Ozarks Easier for You!

Whether you’ve been dreaming of living in the lake for years, or just discovered Lake of the Ozarks and decided you have to live here, when you make the decision that it’s finally time to move to Lake of the Ozarks it is an exciting time. Since starting Arrowhead Title in 1984, we have helped a lot of people through their real estate closing at Lake of the Ozarks, and have witnessed the joy of each one of them receiving the keys to their new lake home! Over the years we’ve learned some things about how to make the process easier. So if you’re thinking about buying a home in the area and would like to learn more about the process, this blog will explain how to prepare yourself for making that purchase.

Have a realistic budget

Knowing what you can afford in a home includes more than just the mortgage payment. Once you are a homeowner you will have to be prepared to pay for things like homeowners insurance, maintenance, real estate taxes, etc. You also should have an emergency fund in case anything goes wrong, because you will not have a landlord to fix things for you. In addition, it’s important to have funds for things like down payment, inspection fees, title insurance, and other closing costs. All these costs must be factored in to make sure you’re not buying more house than you can afford.

Get Preapproved

Getting preapproved is essential in today’s market. Houses sell so quickly, that if you have to get your financing together after you’ve made an offer, the house will most likely be gone before you get approved. You may be competing with cash buyers, so if you are buying with credit, you should give yourself every edge possible. Contact your lender to get preapproved as soon as possible. That way if you have issues getting approved, you’ve got time to correct it before you find a house and fall in love with it.

Care for Your Credit

While you are in the process of buying a house, it’s very important not to do anything that could adversely affect your credit. Everything from how much you are allowed to borrow to the interest rate you will pay will depend on your credit score. Higher interest on a home mortgage can add up significantly over the life of the loan. It is best to avoid opening any new lines of credit or getting any new credit cards. At the same time, don’t close any credit cards or lines of credit you already have, but just pay down the balances. The goal is to have your debt to income ratio less than 40%. Finally, whatever you do, be sure to pay all of your bills on time.

Location and Lifestyle

Another thing that’s important when looking to buy a home is to consider the lifestyle you are looking to live. The lake varies considerably e.g. from Lake Ozark to Camdenton. There are spots on the lake that are slower and more peaceful or family-oriented. There are places on the lake that are fast and fun and full of speedboats. So you will want to choose your location accordingly. It’s also a good idea to consider where you plan to work, shop, and play the most, and where schools are located. If you live on one side of the Toll Bridge but work on the other, those fees can definitely add up over the year.

photo credit: Fun Lake MO

Choose the Right Team

Choosing a real estate professional that is experienced with the Lake of the Ozarks and knows the area well can be very helpful during the process of buying a home at the Lake of the Ozarks. That includes your realtor, your mortgage lender, and your title company. When you have someone on your side who is experienced in the industry and dedicated to accuracy it is possible to go through the entire process with much more confidence and peace of mind!

Arrowhead is Here to Help You Close on Your New House!

We absolutely love bringing our clients to the closing table and watching their reaction as they set out on their next new chapter in life. We want the process to be as clear and stress-free as possible, and we want all of our clients to be secure in their property ownership rights through the title search and title insurance services we provide. If you have any questions about the closing process or about title insurance at Lake of the Ozarks, don’t hesitate to call. We’re happy to answer your questions and help you feel at ease. If you would like to stay in touch with us and hear all of our latest tips and information about real estate at the Lake of the Ozarks, we invite you to follow us on social media using the links below.

The Lake of the Ozarks' Most Trusted Title Company

Where Accuracy Matters!

750 Bagnell Dam Blvd Suite B
Lake Ozark, MO 65049


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