Should Military Families Buy A House Or Rent?

Investing in a house is a stressful affair and if you are a veteran in the military, the decision whether to buy at a certain place or not, hangs in the balance. A military job is a transferable job. You are stationed at a base for a couple of years and then suddenly you get a transfer call. Such is the nature of the job that you are never able to sit and make your mind about buying your dream home and a safe place for your family. Having a place to call your own whether you are going to stay in it for four years or forever is an essential part of an American dream.

Since military members are called upon to deploy or change duty stations at any moment, most duty families choose to rent. But there are some, who despite knowing the hardships of relocating and living an unpredictable lifestyle, choose to invest in real estate by purchasing a military property for sale.

Well, the decision whether to rent a house or scour the military properties on sale in the area depends on some financial and career-based decisions as well as emotional and practical concerns.

In many parts of the US, rental costs have shot up while the average home price has decreased. This has increased the temptation of most veterans to go for a buyout. Before making up your decision on purchasing a home, make sure that the property is marketable for the purposes of selling and renting. No homeowner wants to sit on the real estate market for months or years while they continue to pay mortgage and live somewhere else. Also, ensure that the house is near the military base where you are deployed.

If you are on the verge of retirement and are lucky enough to be stationed at a location, then buying a house close to the base will be a sound investment. Your house will be in proximity to military healthcare facilities and other benefits.

Purchasing a house is a complex thing for military family members. Looking at a home purchase as an investment is a good option if the house is marketable and can be easily rented out in case of a sudden transfer. Whatever you do, examine your options thoroughly to make an informed decision for you and your family.