Lake Living at the Ozarks
Skip the Suitcase
When it comes to spending vacation time at the Lake, invest in a closet, not luggage.

The Lake area is a haven of second homes for owners from nearby metropolitans needing to get away from city life. That is readily evinced by the steady increase in new home construction and condo developments in the last decade. In 1995, the Lake of the Ozarks had about 100 condo complexes; in 2009, it has more than 250.

Condominiums are especially attractive to second-home residents who simply enjoy the concept of a maintenance-free lifestyle that allows maximum time for boating, hiking and casual living, says Lucy Wheeler, broker/owner/agent with Lake Condo Connection Real Estate Co. All owners have to do is bring in groceries and go play.

With so many options, it’s hard to know where to start when looking to buy property at the Lake. There are three main considerations: your family’s lifestyle, the amount of space you need and price. Do you want to live around the entertainment hub or be tucked away in a secluded cove? Do you have a big family or do you plan on accommodating/entertaining lots of guests? What can you realistically afford? “The Lake of the Ozarks, as compared to more well-known resorts, was (and still is) affordable,” Lucy says. For the cost, buyers get more amenities than ever. “In 1995, there were only a few complexes with elevators, heated pools, playground areas or boat launching ramps, not to mention garages and storage areas. Now, all of these amenities are more readily available in newer complexes.”

Condo complexes at the Lake also can differ from suburban neighborhoods near the city in a few other ways. Lucy says potential buyers should read the by-laws of any complexes under consideration to find out what restrictions there are, such as nightly rental programs or whether pets are allowed. If there is a homeowners association, find out who it’s managed by and ask if there is a reserve fund, any litigation against the association, special assessments being considered and maintenance conditions.

Because of the amount of background to research, you may want to consider hiring a real estate agent to help you sift through the information. “With more than 250 complexes, there’s a lot to learn,” Lucy says.