According to an article by Joe Gladden, as well as the majority of recent media releases, the housing market is definitely a buyers market. Question is, are you, as a member of the military, taking advantage of it?
The above mentioned article takes you through some of the things you need to consider when purchasing a home, from choosing a team to work with, to getting a loan approved, selecting your home and deciding if it’s the home for you, while keeping potential pitfalls in mind (repairs required, maintenance neglected, resale value), as well as the negotiation and closing process.
While there are some issue to consider, that are unique to military homeowners, like ’sudden’ PCS moves (Consider the possibility of any upcoming PCS moves prior to purchasing a home. If you already know that you’ll be PCS-ing within a year or so – consider if you could purchase a home and then keep it as an Investment property, by renting it out?), overall, owning a home comes not just with maintenance work and repairs, but also with benefits like reducing your tax burden and building your credit.
So the question is – what is your opinion on military home ownership?
