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Contributor

My wife and I are considering selling our home and moving back onto base for the remaining 5+yrs of my active duty career at which time we will move out of state. 

We bought at a great time and have since made considerable equity in our home. My question is, should we sell and not risk selling in a different market and loosing out on our potential profits? I cant see the market continuing to rise much more than it already has as we are already back at the 2007 home prices.

We love our house and so many aspects about it, but it is a long drive in Bay Area traffic which I wouldnt deal with on base. 

 

Sean

2 REPLIES

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There is a program through your base where you can rent your home out to other military people, make sure the rent is enough to cover mortgage, insurance, maintenance, and taxes. I would recommend pursuing this- they deal with tenants like a realtor would. and that way you own the home as an asset but don't keep paying for it out of pocket
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Selling your home or renting your home out, this is one of the most asked questions from our clients. The correct answer to this question is in financial goals. Do you want to have a rental as part of your portfolio? If your answer is yes, consider management cost 8% - 13% of rental, possible mortgage payment/HOA fees if they apply, in absence of tenant and on going maintenance especially in between tenants (painting, flooring and landscaping). Once a homeowner decides to rent their property out, remember that the property is no longer your home and detach yourself from the home concept regarding said property. For some folks this a difficult and sometimes impossible task and ends up being a major contributing factor leading to the sell of their home. Good luck on your decision and fair winds and following seas!