What You NEED To Know About Home Buying in 2016
2015 was a great year to buy a home. There were many great houses on the market, and the interest rates stayed low. While 2015 was a good year, 2016 is showing signs of having many great benefits as well. Here are a few things you'll want to be aware of as you prepare to buy your Lake of the Ozarks home.
Gattermeir Davidson Real Estate, LLC
Home Prices Should Slow Down
While real estate prices have been on the rise recently, it is believed that the prices should start to slow down soon. As the prices slow down, this will be an ideal time for first-time buyers to get their foot in the door and purchase the home of their dreams. Along with first time buyers, it can also be a good time to purchase a second home at the Lake of the Ozarks and invest while the prices are low.More Homes on the Market
Because the prices of homes may start to slow down, we may also see a rise in listings. This means that as a buyer, you will have more homes to choose from. It may also diminish the "bidding wars" as there will be more homes to go around. In addition, we may see a rise in contractors building new homes, which will also help take the pressure off of buyers struggling to find a residence.
Cheap Mortgages May Vanish
While the prices of homes may level off for a bit, interest rates seem to be on the rise. As a home buyer, this impacts you because the higher the interest rates are, the more you'll be paying in the long run for your home. While it's hard to say exactly how high the rates will get, it is believed that they will increase through 2016. If you have been wanting to buy a home at the Lake of the Ozarks, now is the time to begin before the rates start increasing.Renting vs. Buying
There is always the debate whether it's cheaper to rent or to buy. Based off of speculated numbers, it looks like it will still be a good plan to buy a home this year compared to renting. In fact, rent prices appear to be climbing, and may continue to do so throughout the year. This means that when you're looking to get more bang for your buck, buying a home is the way to go.
Home Buying at the Lake of the Ozarks
The Lake of the Ozarks is a wonderful place to settle down. Whether you want to spend your retirement here, raise your family, or start your career - there are many opportunities for you. You will find that the Lake area is friendly, encouraging and involved in the community, which is only part of what makes it such a wonderful place. The team at Gattermeir Davidson would be glad to help you find the best lakefront home at the Lake of the Ozarks, and assist you in getting 2016 off on the right foot.
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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