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Date Archives: December 2016

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Bellefontaine | 19 Posts
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Lakefront Homes | 6 Posts
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December
29

 

 

Retiring to a Lake House in Indian Lake Ohio

 

Indian Lake is a beautiful location with lots of amenities and options for individuals seeking to retire in the community. Whether a person wants to pursue an active lifestyle or one that is more laid back, Indian Lake is the perfect place to set one's sights on finding just the right lake house for retirement.

 

Lakes Galore

Indian lake is well positioned in the area with a 6,334 acre reservoir and canal system which gave way to new and growing railways. Indian Lake remained, serviced by railways and is a destination for people who enjoy fishing, boating and other lake activities. The lake has many fish including Saugeye and includes fishing clubs, snowmobiling and numerous islands which form the "Indian Isles." Wildlife areas are accessible by a network of channels, inlets and bays while people can enjoy on the ground entertainment with camping, hiking and biking along the lakeshore.

 

Buying a Home

Purchasing a home in Indian Lake offers many opportunities to explore communities across the region which provide a stunning view of the lake. Finding the right community can be important when seeking a retirement property as each individual or couple will have a unique sense of purpose for retirement whether it be more active or subdued. Depending on the area, some homes are closer to dining, entertainment and shopping while others are more hidden, allowing for more quiet serenity.

 

Friendly Neighbors

Indian Lake has several small communities which make up Indian Lake including Lakeview, Russells Point. Finding a home in the area is made easier by the friendly community atmosphere found in Indian Lake. People move at a slower pace, enjoying the surroundings and finding peace with lake activities, dining and other options available at the fingertips. When searching for that perfect retirement property, it is important to find a place where people know one another, are friendly and are at the same point in life. Indian Lake has everyone from young families to vacationers to retirees all living within the friendly neighborhoods surrounding the lake. Many people are choosing to come to Indian Lake to retire due to the plethora of activities but also affordable home prices and small town values afforded in a place like Indian Lake.

 

There are many reasons to look for a retirement property in Indian Lake, Ohio. Serene surroundings, the beautiful lake with opportunities to explore activities and wilderness can provide a great place to enjoy retirement or sit back and relax while taking in the scenery. Lake homes for sale in Ohio are available at all different price points with many options available from right on the water to ones with a view of the lake and surrounding areas.

 
December
20

 

 

Buying a Home in Indian Lake Ohio

 

Indian Lake Ohio is located in Logan County, western Ohio. Fed by the north and south forks of the several waterways, Indian Lake was named so because several tribes lived in the region and found it to be ideal for fishing and hunting. Today, the region is a great place to purchase a home with its beautiful lakes, activities, schools and other amenities at an affordable price.

 

Indian Lake

Indian Lake has numerous islands, including the "Indian Isles" chain which expands across the center of the lake with numerous wildlife areas and a 30 mile shoreline. Several of the areas have activities to enjoy including lake-front biking, walking trails and boat launches. Activities centered around the lake include a Jimmy Buffett weekend the first week of February along with the annual Boat Show the first weekend in March. The "Ring of Fire" is on Sunday evening prior to Labor Day weekend which explores an Indian tradition in celebration of the harvest. Many more activities are included which provide entertainment for the whole family year-round.

 

Lifestyle

Owning a property in Indian Lake, Ohio is all about lifestyle. People who choose to own homes in Indian Lake enjoy amenities surrounding the lake including dining and entertainment options but also find top notch schools and neighborhoods with affordable home prices. Purchasing a home in Indian Lake is an easy choice when looking at the small communities located near big cities but with a small town feel. Two villages, Russells Point and Lakeview, surround the lake along with many unincorporated areas. The area is bolstered by resort amenities nearby and opportunities to get into nature at every turn.

 

Buying a Home

Looking for a home in Indian Lake focuses on many aspects, depending on where a family wants to live. One of the focal points is, of course, waterfront property. Slightly more expensive for some properties, others may be in just the right price point to please any family looking to buy a home in the area for a first home or vacation property. Other options include buying homes in the suburban communities surrounding the area including Bellefontaine which includes shopping, dining and entertainment options with easy access to schools while providing a small town feel.

 

Buying a home in Indian Lake is not just a choice, it's a lifestyle decision. Families who want to live in the area or buy a vacation home are afforded the best of all worlds. Many entertainment options exist to explore the lakefront, nature, parks and camping as well as provide space for quiet and rest. Nearby bigger cities surround the town and provide a way to indulge in big city life without big city home prices. Affordable options exist for all price points in Indian Lake, Ohio and are just waiting for the right family to come and purchase to make the homes their own.

 
December
13

 

 

 Comparing Renting vs. Owning

One of the hottest topics in housing is whether to rent or own a home. Market conditions and personal finances and other things factor into the decision to rent or own a home. Learn how calculations actually work in order to feel confident on deciding what is right for the budget and family.

 

Check Numbers

The first thing to understand is how math works for each individual looking at homes. Calculating monthly costs of home ownership, subtracting tax benefits and comparing the final figure will help gauge the difference between home rental versus home ownership in the same neighborhood.

Assume a credit score of 750, a $300,000 home purchase price with 10 percent down ($30,000) for a 30-year fixed mortgage. Current rates hover around 3.25 percent. A mortgage calculator will tally the total monthly cost as follows:

 

Mortgage payment of principal and interest  $1,175

Property taxes  $300

Private mortgage insurance (PMI)  $133

Homeowners insurance  $67

TOTAL monthly cost  $1,675

 

Calculate the tax benefit by deducting the mortgage interest and property taxes. Multiply the loan amount by $270,000 by a rate of 3.25 percent for a total of $8,775. To calculate annual property tax, multiply the $300,000 home price by a national average of 1.2 percent property tax to get $3,600. The sum of $8,775 along with $3,600 equals $12,375 in deductible costs. Based on the income needed to qualify for a $300,000 home, the tax bracket is likely around 28 percent. Multiply $12,375 by 28 percent for annual tax savings of $3.465. Divide that number by 12 months for estimated savings of $289. Subtract this number from the total housing cost of $1,675 for after-tax cost of $1,386.

Compare the estimated after-tax housing cost of $1,386 to market rent for a comparable home in the same city with similar size, quality and location.

 

Looking Ahead

The second thing to understand is that it takes time for owning to become cheaper than renting.  A cost-benefit analysis is helpful when determining which is more cost effective but also which provides the most benefit over the long term. A breakeven horizon is when buying becomes more favorable in a year when costs to buy become less than or equal to renting costs. When it comes to making an investment, it is important to note how long it will take for this to happen if questions remain as to the benefit of renting versus owning for the future.

 
 
December
8

 

 

Legal Benefits to Using a Licensed Real Estate Agent

 

Whether buying or selling, a professional, licensed real estate agent can provide great benefits in finding a dream home. Legal obligations to clients can provide a safety net for the client. Find out what legal benefits exist to using a licensed real estate agent and how to take advantage of the opportunity.

 

OLDCAR

The acronym OLDCAR is used to describe legal obligations afforded to clients by licensed real estate agents. The benefits included are listed as follows:

 

Obedience

If an agent represents an instruction with financial implications, the agent is required to follow it even if disagreement ensues. This pertains to anything that is legal and does not contradict a contractual agreement.

 

Loyalty

An agent is obliged to put the interest of his or her client above those of anyone else involved in the deal (including the agent). Loyalty gives the client a sense of peace and reassurance the agent has his or her best interests at heart.

 

Disclosure

If an agent knows any fact that is 'material' to the sale, the agent is obligated to share the information with his or her client. It is more beneficial to the agent to find out as many material facts as possible.

 

Confidentiality

The agent must protect his or her client's confidentiality. Any information about the client cannot be shared without permission to any other party in the deal.

 

Accounting

The agent is responsible for keeping track of funds which factor into the deal.

 

Reasonable Care

An agent must use 'reasonable care' and diligence while handling affairs of the client. This may end up being decided by a judge in court depending on the specific transaction being handled.

 

The Agent

Fiduciary responsibilities mentioned above only apply to a real estate agent working for the client. This includes having had a written or verbal agreement. An agent may come into the picture who is part of the deal but is not formally representing one's own personal interests. If the agent represents the seller, the obligation exists to the seller not the buyer and legal obligations do not apply to interactions with the buyer.

 

Every agent has an interest in maintaining good relationships with other agents. Agents can sometimes be too friendly if things get cozy and carelessly disclose information. Over-sharing may involve collusion where two agents work together on the side to structure a deal which benefits both the agents or a hidden outside party which goes above the client's interests. Getting a different agent is always an option if the individual no longer wishes to be represented by the agent or it is believed the behavior is unethical. The other option is to turn the agent into the company for illegal practices.

 

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