Investment Properties vs. A Second Home
When looking for real estate that is in addition to your primary residence, it's important to know the facts about that property. There are different rules from the mortgage to the insurance, and even tax info for your additional real estate and the Gattermeir Davidson team would love to share some insight. Here are a few differences in a second home and an investment property.
There are also many different types of investment property. You can get a residential rental property, commercial property, or property that is used to "flip." This is where you purchase property with the goal of reselling it for a profit.
The thing to keep in mind about investment property is that the loans usually have a higher interest rate and require a larger down payment than properties that are occupied by their owners as a second home. Do you have more questions about investment properties at the Lake of the Ozarks? We would love to answer your questions. Visit our website to learn more about our services.
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Investment Property
The main purpose of an investment property is to do exactly what the name implies - give you an investment. What defines an investment property is that it's not your primary residence, and it's purchased or used in order to generate an income or profit. This can help take advantage of certain tax benefits as well. Basically, if you purchase real estate at the Lake of the Ozarks that will be used to make a profit rather than it being used as your personal residence, it's an investment property.There are also many different types of investment property. You can get a residential rental property, commercial property, or property that is used to "flip." This is where you purchase property with the goal of reselling it for a profit.
The thing to keep in mind about investment property is that the loans usually have a higher interest rate and require a larger down payment than properties that are occupied by their owners as a second home. Do you have more questions about investment properties at the Lake of the Ozarks? We would love to answer your questions. Visit our website to learn more about our services.
Second Home
Are you looking for a second home at the Lake of the Ozarks? The description of a second property is a property that is a primary residence for part of the year. A second home is generally used as a vacation home, though it could be a location that you visit on a regular basis. This is ideal for the Lake of the Ozarks because we are a prime vacation location! Second homes typically have lower interest rates than investment properties, and will usually include a second home rider along with the mortgage. The characteristics of a second home are that the borrower will occupy and use the property as a second home and that the property will be kept available for the borrower's exclusive use and enjoyment at all times.
Purchasing Real Estate at the Lake of the Ozarks
From investment and second homes to primary homes and even property - Gattermeir Davidson wants to be your real estate connection. We can assist you through the buying or selling process, and our team of experienced real estate agents at the Lake of the Ozarks. You can visit our website to learn more about our buying and selling process. We look forward to being your real estate connection at the Lake.FOLLOW us on Pinterest
2011 REALTOR Salesperson of the Year
Missouri Association of Realtors
Gattermeir Davidson Real Estate, LLC
752 Bagnell Dam Blvd., Suite A
Lake Ozark, MO 65049
Office | 573.365.1555
Fax | 573.365.1766
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