When to buy?

When to buy?

BrianaHartzell's avatarBrianaHartzellOccasional Contributor

When did you decide to become a homeowner? My husband and I have discussed buying a home at our next duty station, but cannot decide whether it is the best decision! If we cannot sell a home when we inevitably move again, are we willing to be landlords? Can you share your home owning story? Do you own a home? Have you had issues/concerns/lessons learned?

Re:When to buy?

Kendall Campbell's avatarKendall CampbellNew Member

Hi Briana, Our family just had a PCS and we decided to build our home. We decided to do this because we are now in the area we hope to retire in. My husband is moving towards the end of his military career & we don't anticipate another move. *If* he receives orders assigning him to a different duty station, we'll keep the home. If the situation was different I would not be comfortable purchasing a home. Even in a good real estate market, there are no guarantees one will sell the property with the next PCS... and not everyone desires to be a landlord. This is my perspective. :o)

Re:When to buy?

Marquand Price's avatarMarquand PriceNew Member

Buying a home is a major investment for anyone. When I moved to my husband first duty station we bought a home in Jacksonville, Fl. Many of our friends had purchase one so we were really excited about having one too. However in our case we did have to sell in 2 years inwhich we thought we had more time at that duty station. We had to rent it out for a year which was crazy, 10 hours away from my tenant plus we had to take less for rent. I was so glad that we were able to sell it. Unless you have support in that area where you are buying at, a good relationship with your realtor, and a steady income I don't recommend buying a home so quickly. Although it will give you the experience you need as a home owner. Once we sold this home in 2005 we bought another 2 years later in which we currently live in now. Buying a home is a big investment so make sure you have a good support team. Call me or email me if you need help. I am a licensed agent and work with many military families. Thanks Marquand Price Coldwell Banker TEC 3201 General Degualle Dr. New Orleans, La 70131 5043074844

Re:When to buy?

Skhot's avatarSkhotNew Member

Buying a home is buying a lifestyle. It's taking care of house, mowing lawns & socializing w/ neighbors, many of whom have kids & families. It's a quiet & peaceful retreat after a long day @ work & a perfect place for hobbies, gardening, etc. Downside is HOA fees, prop. taxes, assessments, high utility bills, etc. Hopefully, equity & market appreciation makes it worth it, but w/ today's unstable market that position is tenuous at best. I recently bought a foreclosed HUD home because my low bid was accepted, & I used a VA loan. Will miss the apartment pool & gym, but relish the bigger space, freedom, & privacy. Luckily, I have nice neighbors, which makes all the difference. Good luck!

Re:When to buy?

VeteranBrat's avatarVeteranBratFrequent Visitor

Briana, I see this post was almost a year ago. What did you do? Are you still thinking or did you take the plunge into the deep end of home ownership?

Re:When to buy?

BrianaHartzell's avatarBrianaHartzellOccasional Contributor

veteranbrat: We took the plunge and purchased a home in December! My spouse found out he would be stationed in Lemoore, CA for the next three years and we found a house we really liked, so we signed our lives away :) So far we have been extremely pleased with our decision and I can safely say I much prefer being my own landlord!

Re:When to buy?

JohnaThomas's avatarJohnaThomasNew Member

Briana, I am now in the position you were in and I was hoping you had some advice on how the whole process works? What are some things you would do differently or the same? Thanks for any info you might have!

Re:When to buy?

ManateJim's avatarManateJimNew Member

SFO, CA. House Building Market $125 per SqFt in 1992. Tampa-Bay, FL House Building Market $55. Compared both with Power, Water, HOA, Property Taxes, Waste and most importantly, Noise. Sounds of everyday/night noise. Visit the home block at 09:00 & 19:00, open car windows and listen. Children play ball, cars in driveways, people walking their dogs, planes flying overhead, radios, etc. Discuss adding Storm Windows to your house.