Buy or Rent????

[Flyboylance]

I was thinking about buying a house upon reporting to API. I am married, and my wife is obviously coming with me. Is it pretty easy to sell upon leaving, or difficult? I am just curious. I would appreciate any guidance that anyone can give me.

Thanks in advance.

 

[zacharyj53]

I was thinking about buying a house upon reporting to API. I am married, and my wife is obviously coming with me. Is it pretty easy to sell upon leaving, or difficult? I am just curious. I would appreciate any guidance that anyone can give me.

Thanks in advance.

Unless you plan on renting it out after you move I wouldn't do it.

 

[ryann24]

Unless you plan on renting it out after you move I wouldn't do it.

Agree!!! The market is NOT a sellers market, you could probably get a good deal if you are looking to rent it out though

 

[dbatt005]

I think there is at least a dozen houses in my neighborhood forsale. I would go with renting. You might also want to check out insurance rates for the different parts of this area. This was the major factor in my decision to rent. I couldn't afford the house I am in if I bought it.

 

[llnick2001]

I'd rent until your first real (real like longer than a year or two) duty station.

 

[Circle K]

Definately rent... Married or not your one pen stroke away from being sent to Corpus or Vance (follow on orders mean little to nothing)

 

[S.O.B.]

If you pick the right spot you can buy a place and rent it out. The trick is location and price. The house I bought was just out of the back gate of NASP and I rented it for six years with out a month of missed rent, sold it and made a little but it was easier then I thought. The tax right off is excellent when you rent a house out. As far as price make sure you can rent it for about an E-5/E-6 BAH.

 

[Herc_Dude]

RENT

 

[HeyJoe]

If you pick the right spot you can buy a place and rent it out. The trick is location and price. The house I bought was just out of the back gate of NASP and I rented it for six years with out a month of missed rent, sold it and made a little but it was easier then I thought. The tax right off is excellent when you rent a house out. As far as price make sure you can rent it for about an E-5/E-6 BAH.

Just remember that you have to be a responsive landlord and be able to fix anything that needs fixing and appliances and HVAC systems don't come cheap (especially HVAC) as well as plumbing bills so make sure you can afford to dump some cash into your property quickly and have a management plan (if you aren't close enough and its likely you won't be). Think about the above when and if you decide to be a landlord and evaluate the condition of the property before you invest. Last thing you need is to have to replace the air conditioning system shortly after becoming a landlord. Another word to wise, use a good lease (they are on-line) and do a credit check. Once they're in, they're hard to get out if they turn out to be bums.

 

[insanebikerboy]

You might also want to check out insurance rates for the different parts of this area.

+1 on that. Homeowners insurance has been going up a good bit down here with the hurricanes, especially the closer your house is to the water.

 

[JMMH]

We bought, I'm a real estate agent, so my vote is to buy!

If you plan on buying-- and then renting it out-- do your research on available homeowner's insurance on NON- primary residence (investment property) because I know USAA got a whole lot stricter on issuing policies in the state of FL. Some local agencies have decided not to offer new policies for home owner's insurance.

Good luck. If you have any questions, feel free to PM me.

 

[S.O.B.]

Just remember that you have to be a responsive landlord and be able to fix anything that needs fixing and appliances and HVAC systems don't come cheap (especially HVAC) as well as plumbing bills so make sure you can afford to dump some cash into your property quickly and have a management plan (if you aren't close enough and its likely you won't be). Think about the above when and if you decide to be a landlord and evaluate the condition of the property before you invest. Last thing you need is to have to replace the air conditioning system shortly after becoming a landlord. Another word to wise, use a good lease (they are on-line) and do a credit check. Once they're in, they're hard to get out if they turn out to be bums.

Or pay someone 7% to manage the property. ^^ Sound advice though the home I purchased was new and very easy to maintain.

 

[Flyboylance]

Thanks to everyone for this.. I am definately going to rent.

 

[Cavt]

I vote buy, I wish I had done it when I first got here over a year ago. If you plan on staying here for primary and advanced (which I did) it can make a lot of sense. Either way I would say get into a house, don't rent an apartment. If you must rent, rent a house. You will be much happier.

 

[SnipeDude]

I vote buy, I wish I had done it when I first got here over a year ago. If you plan on staying here for primary and advanced (which I did) it can make a lot of sense. Either way I would say get into a house, don't rent an apartment. If you must rent, rent a house. You will be much happier.

But beware, the utilities are ridiculously expensive.