The Lake of the Ozarks is one of the most popular vacation spots in America and the top boating destination in the Midwest. Some who reside within a few hours’ drive find it to be one of the family’s favorite weekend getaways, especially in the summer months when everything is open, the lake is buzzing with activity and the weather is perfect for water sports.
Frequent visitors know there is a big difference between renting a room in which to settle for a few days and actually owning a lakefront retreat. Imagine coming to the lake and walking through the front door with everything already in place, just as it was last time you were there. The kitchen is set up, the towels and linens are ready to go, and all there is to do is head out to the dock and start the engine of your family pontoon, runabout or cruiser.
Consider that owning a vacation house provides some flexibility. The house can be used exclusively by the owners every weekend through the summer season or lent out to friends and family when work or other obligations keep the owners closer to home. Renting the house out as a vacation property can be a lifesaver when things get tight, generating income while also serving as a tax shelter when managed right.
The current real estate market has had some bumps over the last few years, but most professionals agree Lake real estate is near or at a market bottom and historically low mortgage rates will not last forever.
There are lakefront houses on more than 1,100 miles of shoreline, some large and stately with all modern conveniences, while others are smaller lake cottages reminiscent of a simpler time, sleeping porches included in many.
For buyers preferring more privacy off the water, a second-tier property with lake access could be perfect. There are larger parcels, many with standing timber, scenic meadows, live water, and gorgeous views of the lake below on which to build a family campground, a retreat, a spectacular new home, or just to have some room to spread out and perhaps do a little hunting.
The Lake keeps a small-town feel with big-time recreation, restaurants, nightlife, and shopping to suit just about anyone who comes to visit. Shopping includes many of the familiar stores found in larger metropolitan areas with more on the way as the area booms with investors. There are unique places to find handmade items, gifts, and antiques as well as a large factory outlet mall. Golf is a big draw to the lake area with 13 courses to choose from, three designed by Tom Wisekopf, Arnold Palmer, and Jack Nicklaus.
If considering the purchase of a house with the intent to rent it out, keep in mind that the lake offers a wealth of activities along with the usual swimming, boating, wakeboarding and water skiing, and world class fishing and tournaments. There is so much to offer visitors here that renting a vacation home should not be too difficult. That is, when part-time homeowners can keep themselves away from the Lake.
