4 Amazing Things About Homeownership

There really is nothing like the incredible pride, satisfaction, and joy that comes from owning your own home! Homeownership offers emotional and financial benefits that cannot be found anywhere else. As your trusted real estate agent at the Lake of the Ozarks, I am honoring National Homeownership Month by dedicating today's blog to some of the incredible things owning your own home has to offer. You might be surprised by some of them!

1. YOU (And Only You) Get To Call The Shots
As soon as you sign your name at the closing, you can officially wave goodbye to your days of having to check with your landlord before making any decisions about your living space. You and your family will get to be the ones who decide what color to paint the walls, what pets you wish to have, what upgrades you want to make, etc. Trust me - after months or years of renting, this will be a very welcome change!

2. You Build Equity
"Equity" is the dollar value of your home that you actually own. It can be determined by subtracting your outstanding loan balance from your home's current market value. Every time you lower your outstanding balance by making a mortgage payment or increase your home's value by performing upgrades, you build equity. This equity becomes a major financial asset - in fact, it is the sole reason that homeowners' net worth often far outweighs that of renters.

3. You Create A Better Environment For Your Children
If you have kids, ensuring that you provide a safe, nurturing environment for them to grow up in is probably at the top of your priorities list. Did you know that children of homeowners often perform better in school, have fewer instances of teenage pregnancies, and tend to grow up to be more financially successful adults than children of renters? Most people attribute these extra successes to the stable, consistent environment they get to grow up in. 

4. You Will Be More Engaged In Your Community
Studies show that people who stay actively involved in their communities tend to lead happier, longer, more fulfilled lives. Studies also show that people who own their homes tend to be more actively involved and invested in their communities than those who rent. By owning your home, you will probably increase your connection to your local community - and possibly extend your life in the process!

Celebrate National Homeownership Month:
Buy Your First Home At The Lake!
While these things certainly provide great examples of some of the benefits of homeownership, the list doesn't stop there. Owning your own home also provides an opportunity for a sort of "forced savings" - when you make your monthly mortgage payment every month, a portion of that comes back to you in the form of equity. Homeowners also get to enjoy the added social and emotional benefits that come from knowing their space is truly their own. 

If you have been thinking about buying a house at the Lake of the Ozarks, now is the perfect time to turn that dream into a reality. Contact me to schedule private showings of some of the homes for sale in Osage Beach, Sunrise Beach, Camdenton, Lake Ozark, Linn Creek, Eldon, or any of the surrounding areas. I would be thrilled to help you buy your first home at the Lake of the Ozarks!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484

5 Unexpected Benefits Of Owning A Home

When you think about owning a house at the Lake of the Ozarks, what comes to mind? Common things most people look forward to include having a space of their own, not having to always double-check with the landlord about the decor and maintenance of the home, not having to worry about the landlord raising the rent payments, having the authority to make decisions regarding the number of pets in your home, and having a stable place to raise the children. While these are all outstanding benefits of homeownership, the list doesn't stop there! Here are some other great aspects of homeownership that may surprise you.

1. Homeowners Are Proud Of Their Homes
There is nothing quite like the pride of homeownership. It's indescribable. It doesn't matter if it's your first home at the Lake of the Ozarks or your fifth - when you slide the key in the lock and step into your brand new home, you will almost always be overwhelmed with a sense of personal pride and satisfaction. This pride encourages and motivates many homeowners to perform better at work, take better care of their properties, and create safe, enriching environments for their children. There truly is nothing like pride of ownership!

2. Children Of Homeowners Perform Better In School
As a parent, nothing matters more than the physical and emotional well-being of your children. Believe it or not, buying a house may be a great way to help give your child an advantage. According to a recent study by the National Association of REALTORS®, children of homeowners...

• Stay in school longer
• Perform better academically
• Have fewer incidences of teenage pregnancy
• Are more responsible financially
• Learn valuable skills about maintaining a home

3. Homeownership Helps Improve Your Credit Score

Because they are usually large payments, mortgages often have a very large effect on credit scores. If you manage your mortgage payments responsibly and pay them each in full and on time every month, you can expect to see your credit score increase significantly after owning your home for a few years. By the same token, however, failing to make your mortgage payment on time can severely hurt you score. Make sure that managing your mortgage payment is always a top priority.

4. Buying A New Home Gives You A Clean Slate

After living in the same place for many years, it can be hard to break out of your established routine. You may not be particularly thrilled with the way your kitchen is designed, but are you really going to put the effort into remodeling it? Maybe your basement is a disorganized mess - but it's been that way for years, why change it now? When you buy a new house at the Lake of the Ozarks, however, you get a clean slate and a chance to start fresh. Don't be afraid to take your time settling in so you can set up your dream home exactly the way you've been envisioning it.

5. Homeowners Are More Invested In Their Communities

While there are some "professional renters" who plan to never purchase a home, most people choose to rent because they are not financially ready to buy or because they only plan to stay in the area for a short time. Most homeowners, on the other hand, plan to stay in the area for several years. This sense of stability greatly increases their appreciation for their local community and encourages them to become more active in bettering the community for years to come. It's no wonder that communities primarily made up of homeowners tend to thrive.

I Would Love To Help You Buy A House At The Lake!

If you have been thinking about purchasing a home at the Lake of the Ozarks, now is the time to make it happen. Home prices and interest rates are still low, but both are expected to increase in the near future. I will listen to your vision and help you locate the homes for sale at the Lake of the Ozarks that will best meet your needs. Visit my website to learn more about how I can help homebuyers in Osage Beach MO!

Susan Spica
Professional REALTOR®

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868


Susan's Cell: (573) 280-0484