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Military Relocation-Should You Buy a Home on Your Next Tour?
Over the last few years many military families making the move to Fort Belvoir, the Pentagon or any of the installations within the Military District of Washington made the decision to purchase a home when their orders arrived. With quick appreciation and fast sales it made the choice easy. Now with prices lower and the market slow trying to make the choice between buying and renting is harder.For many using their VA home loan benefits in this market makes sense. As the only 100% loan program available for military families they can ease the costs associated with buying a new home. With lower prices military members can buy more house today than they could before. With sellers often making a contribution to the closing costs up to the allowable VA limits it gets even easier to keep your money in your savings. But is it the right choice? If this tour is your first to our area and you know that you are coming back in the next five years, buying and using your home as a rental after you leave could be a viable option. Understanding the costs associated with owning a rental property including maintenance, management fees and tax ... more
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