7 Reasons You Should Buy a Home in 2018

As the end of the year approaches, it's time to start thinking about your new year's resolutions. Some popular ones might include losing weight, reading more books, or even saving money. Have you ever thought about making your next resolution be to buy a house? 2018 could be your year for finding the home of your dreams. Here are seven reasons you should consider buying a home at the Lake of the Ozarks in 2018.

1. Rent
Rent prices have been going up through 2017 and 2018 will be no different. When you make monthly payments every month, you are taking money that could have gone towards a house payment, and putting it in your landlords pocket. If you think about it this way, if you pay $1000 a month for ten years, that's $120,000, which is easily the price of a nice home. Wouldn't you rather put your money towards an investment that you can own?

2. Interest Rates
Have you paid any attention to the interest rates from 2017? The rates have steadily risen over this past year, and will likely continue to do so in 2018. If you secure your loan at a fixed interest rate before it goes up, you can guarantee that you don't suffer from the high-interest rates.

3. Build Your Equity
You have to start somewhere when building your equity, why not start with your home? Many millennials put their money towards nice cars, technology, and even clothes. None of these build equity, and they certainly don't gain value over time.

4. Stabilized Home Prices
While interest rates are going up, the home prices are stabilizing. This is great news if you're ready to buy your home. It's especially great news if you're looking for an investment property at the Lake of the Ozarks. Our team of real estate agents can help you find your dream home, whether it's your first, second, or even a vacation home!

5. Down Payments
This is a great time to buy a home because there are so many options for your down payment. In years past, it was required to have a solid 20% down - but now you can get away with 3% if not 0% for some loans. This all depends on if you can qualify for the loan, and you'll need to work with your mortgage lender first, but the options are more flexible than in years past.

6. Mortgage Insurance
While this could seem like an intimidating and daunting thing - it's what provides you the ability to buy your home with a lower down payment. You can work with your lender to secure an insurance that works for everyone. You get to live in your home without being out of a lot of money, and your lender doesn't have to worry as much about getting their money.

7. Tax Breaks
There are many tax breaks available to a homeowner. From closing cost write-offs, mortgage interest, and more. This is something you should work through with your financial adviser, but if worked correctly could save you some money in the end.

Buying a Lake of the Ozarks Home
2018 is going to be a great year for you and your family! Whether you're relocating to the Lake of the Ozarks, or you're just upgrading to a new home in the area. You can count on the real estate agents at eXp Realty to help you find the home of your dreams and the price of your dreams.

2011 REALTOR Salesperson of the Year
Missouri Association of Realtors

752 Bagnell Dam Blvd., Suite A
Lake Ozark, MO 65049

Office | 573.365.1555
Fax | 573.365.1766


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