Planning To Rent? 6 Reasons Why You May Want To Reconsider

Homeownership has long been associated with financial success and stability. Unless an individual considers himself totally financial stable, he will probably continue renting until he decides he is finally ready to buy a house at the Lake of the Ozarks (or wherever else he chooses to live). However, Eagle's Nest Realty is here to point out that homeownership is, in fact, much more easily attainable than most people seem to believe. If you are are in need of a new place to live, don't automatically assume you have to find a new place to rent simply because that's what you've always done or because you don't have your dream job yet. Eagle's Nest Realty, Inc. has put together a few reasons why you may wish to reconsider your decision to rent.

1. You Could Save Money
Renting is not the money-saving tactic it once was. As rent prices continue to skyrocket, mortgage interest rates continue to hover around all-time lows. Rates like these allow buyers with decent credit to secure remarkably affordable monthly mortgage payments. In most cases, the rent payment for a home or duplex is significantly higher than the mortgage payment would be for the same property. This is because renters are still paying for a mortgage - just not their mortgage. The landlords are using their rent check to cover the mortgage payment, along with any necessary repairs (and, of course, a little profit for themselves).

2. You Can Trust In Your Stable Home Environment
As a renter, you are at your landlord's mercy. Though you will most likely have a lease agreement, there is no guarantee that your landlord won't find a loophole that allows them to require you to vacate the premises sooner than you expected. For example, they could decide to sell their home. With the exception of a bank foreclosure, no one can demand that homeowners leave the property. This added sense of stability works wonders for the mental and emotional well-being of both the homeowners and (if applicable) their children.

3. You Don't Have To Wait On Someone Else To Take Care Of Things

As a renter, what do you do when something breaks in your home? You call the landlord and alert them of the issue, and then sit back hope they remember to do something about it. While some landlords are fantastic and respond to their tenants' issues immediately, many have an "out of sight, out of mind" mentality when it comes to their properties. As the owner of your own home, you can finally handle all necessary repairs yourself without having to wait on someone else to make the decisions for you.

4. You Get Extra Tax Deductions
Homeowners get to enjoy several unique tax breaks. For example, homeowners are allowed to deduct all of the money paid in interest for their mortgage payment. In some cases, they can deduct the mortgage interest paid on their second home as well. Homeowners may also be able to deduct some of the other costs of homeownership, such as certain upgrades that improve the energy-efficiency of their home.

5. You Can Do What You Want With The Property
Are you tired of the same boring beige walls? Sick of maneuvering your way around a tiny master bathroom? Ready to experiment with some new flooring? As the owner of your own home, you can make any changes to your property any time you want. You don't have to wait and ask for your property owner's permission to move forward, because you are the property owner.

6. When You're Ready To Move, You Can Sell Your Home
As a renter, it doesn't matter how long you've lived in your home - when it comes time to move, you'll pick up and relocate without anything to show for it. All of the money you spent on rent for the last months/years will be gone, and you won't get anything back except for your deposit. As a homeowner, on the other hand, you'll be able to sell your home to another buyer. At the very least, you should be able to break even - and hopefully, you'll be able to sell it for more than you originally paid for it!

Convinced? Contact Eagle's Nest Realty To Help You Buy A Home At The Lake!
Don't sell yourself short by choosing to rent simply because you assume you have to. With interest rates still hovering near historic lows, homeownership has never been more affordable. Our Lake of the Ozarks real estate agents strongly encourage you to talk to a mortgage lender to determine whether or not you may be in a position to buy. We can help you when you are ready to move forward and look at some of the available homes for sale at the Lake of the Ozarks!

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5 Reasons To Be Grateful You Own A Home

We are fortunate to enjoy many blessings in our lives. Even the simplest things are worth being grateful for - the roof over our heads, the food on our tables, and the people in our lives are all excellent examples of things to be thankful for this holiday weekend. If you own a home, you can add a whole extra set of blessings to that list! Eagle's Nest Realty is here to share with you some of the reasons to be grateful to own your own home.

1. You Can Decide How To Live Your Life.

There's nothing worse than not being able to live the way you want simply because an independent party (such as your landlord) tells you otherwise. As the homeowner, you are the one who gets to decide whether or not you want to have a pet, how loudly you want to play the music, and what color you want to paint the walls. There is nothing quite like the sense of freedom and pride that comes from owning your own home!

2. You Don't Have To Wait For Someone Else To Make The Repairs.

The fact that homeowners are responsible for making their own repairs is sometimes used as a negative hit against homeownership, but we believe that it's actually a big advantage. All too often, renters end up waiting weeks and weeks before the maintenance man finally responds to their request. When you own your own home, you have the freedom to make repairs you need, when you need them.

3. You Can Save Money.

Rent costs have risen to all-time highs over the past few years, and they are expected to continue to increase in 2016. As a result, individuals who plan to rent for a few more years so they can save up more money for the down payments may end up getting caught in what Keeping Current Matters has dubbed "the renter's trap." As the owner of your own home (and depending on your type of mortgage loan) you can enjoy fixed monthly payments that will remain consistent for the duration of your loan.

4. You Are Investing In Your Future.

When they make their monthly payments, homeowners are investing in what some people call a form of "forced savings." Paying your mortgage is non-negotiable, but a portion of your monthly payment comes back to you in the form of home equity. Home equity refers to the monetary amount of the home you actually own. For example, if your house is worth $250,000 and your loan balance is only $200,000, you have $50,000 of equity in your home. By making your mortgage payment every month, you are forcing yourself to build home equity - which will prove to be a valuable financial asset in the long run!

5. You Can Enjoy A Sense Of Stability.

Even if you rent the same house or apartment for several years, it unavoidably feels like a temporary arrangement. When you buy a home at the Lake of the Ozarks, on the other hand, you can know that you will be in that same home for several years. This sense of stability has been shown time and time again to offer incredible benefits for people of all ages - children of homeowners perform better in schools and homeowners are more relaxed and confident. There's truly nothing like it!

Don't Yet Own Your Own Home? Call Us!

If you have yet to join the ranks of proud homeowners, call us at 877-452-5338. With over 40 years in real estate and over 15 years in the Lake Area, we have the experience you need to successfully buy a home in Sunrise Beach MO. We would be honored to help you find your dream home at the Lake of the Ozarks! 

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Buying vs Renting (We Can Do Both!)

You've lived in your current apartment for one-two years, and now your the end of your lease is approaching. It's time to make a crucial decision: do you buy or rent your next home?

Couples and individuals all over the country face this sometimes difficult decision every day. Both buying and renting have enticing advantages that make them compelling options, but which one is right for you and your lifestyle? Your friends at Eagle's Nest Realty, Inc. are here to help by evaluating some of the unique advantages of each.

Reasons To Rent Your Next Home

Increased Flexibility
If you are only planning on living at the Lake of the Ozarks for a short while, renting is almost definitely your best option. Rental leases typically range from one to two years. This shorter time frame gives you a place to stay now without locking you into anything long-term. When you are ready to move, you can simply choose to not renew your lease; you don't have to deal with the hassle of trying to sell your home at the Lake of the Ozarks.

No Maintenance Costs
As a renter, maintaining your home's fixtures and major appliances is not your responsibility. If the HVAC system quits working or your kitchen sink develops a leak, you can call your landlord and have him/her take care of it. Not being responsible for these continuous maintenance costs can save you a lot of money in the long run.

Saving Money
You might plan to buy a house at the Lake of the Ozarks eventually, but that does not necessarily mean that now is the right time to buy. Renting requires an initial deposit, but the deposit will be much lower than the down payment you would need to provide if you were buying. By biding your time and renting for a few years, you can save up to buy the home of your dreams.

Reasons To Buy Your Next Home

Home Equity
Equity is one of the biggest advantages homeownership offers. "Equity" refers to the amount of the home you actually own; you can determine your amount of equity by taking your home's current market value minus the amount you still owe on your home loan. You can use your equity to take out a second mortgage or provide a bigger down payment on your next home.

Freedom
Buying a house might lock you into one location for a longer period of time, but many homeowners actually feel freer than they did when they were renting. As a homeowner, you are the one who gets to decide what color to paint your bedroom walls, how many pets you want to have, and whether or not to add decorative brick or stone to the front of your house. No one else gets to make those decisions for you!

Appreciation
In a growing economy (like the one here at the Lake), appreciation is almost unavoidable. As a homeowner, you can use this fact to your advantage. If you have your home for at least five years, chances are you will be able to sell your home for more money than you originally paid for it. In addition to giving you a stable place to live, then, owning your own home can actually help you make money.

Eagle's Nest Realty Can Help You With Both!

No matter whether you decide to buy or rent a house at the Lake of the Ozarks, the team at Eagle's Nest Realty is here to help. We have the experience you need to help you shop for, make an offer on, and negotiate the transaction of buying your very own home, but we also have insider information on some great long-term rental properties. Give us a call for more information!

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