5 Tips for Buying A Home at the Lake of the Ozarks

If you've considered buying a home at the Lake of the Ozarks, you know that this is one of the biggest decisions you could ever make. Purchasing your own home is a great investment, but can also feel very stressful and overwhelming. But it doesn't have to be! There are tons of resources out there to help you through the buying process. And don't worry about going it alone, Team Andy Gibson is ready to help you through every step of the process. Let's start with a few tips for buying a home:


1. Get your finances in order.

Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house.

2. Find a house you can afford.

As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.

3. Hire a professional.

While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.

4. Do your homework.

Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.

5. Think long term.

Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future.

With these tips for buying a home, you'll be well on your way to picking out paint colors and filling your new home with years of memories. Team Andy Gibson is excited about your decision to buy a home at the Lake of the Ozarks, and we would love to discuss what we can do to help your real estate transaction go as smoothly as possible. For all of your real estate related questions, contact Team Andy Gibson, the most trusted real estate agents at the Lake of the Ozarks!

CONTACT TEAM ANDY GIBSON FOR ALL OF YOUR REAL ESTATE NEEDS!

Keller Williams Lake of the Ozarks Realty
858 Hwy 42
Osage Beach, MO 65065 
573-286-5907 Cell
573-348-9898 Office
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