If you’re a member of the Armed Forces, then you know some of the challenges associated with serving in our country’s military when it comes to home buying. In the end, though, when the dust has settled, it will ultimately be time to buy!
When the time has come to purchase your home, there are several things you should consider. Here are a few tips for buying a home while in the military.
1. Research Your Market With a Realtor
Many areas surrounding large military establishments are largely built upon the idea that the base will sustain a suitable stream of housing revenues and inventory. If you and your family are looking a little further off-base, then you will definitely want to research and fully understand the housing market in your area.
There’s certainly a degree of understanding in the real estate markets near military bases that there will be a certain degree of turnover, but don’t let that mentality cause your home’s value to be demeaned in any way. Know where houses hold their value the best and where they don’t quite keep up. This can give you a great window into where to move and where to buy.
2. Orders are Orders
In the Armed Forces, orders are orders. If you have orders to move to a new location, there’s not a whole lot you can do about it; however, you should be proactive with selling your existing home and contacting a realtor.
Hopefully, your orders aren’t so sudden that you’re called away to duty without enough time to adequately prepare. If you’re given plenty of advanced notice, contact a realtor approximately 90 days before your desired move out date. This will allow plenty of time for the house to get on the market and potentially get sold without putting you or your family out of pocket too much.
3. Get the Financing You Deserve
Financing for Veterans and active military personnel is available through most lenders by way of government programs. You’ve served our country and served it well, and you absolutely deserve to take advantage of the programs offered to you. Make sure you understand your financing options, know exactly how much you can finance, and find out exactly how much you can afford.
As an active or past member in the military, you definitely want to cash in on the deals afforded you from the government. Knowing your options will give you a leg up on the purchase of a home during your duty.
4. Start a Home Buying Checklist
If you’re looking to purchase a home or know you’ll be moving soon, start making a checklist of everything you need to take care of leading up to your move. Everything from packing, cleaning, and financing should be addressed beforehand!
At the top of your checklist, though, should certainly be to contact a reputable lender and understand all of your options. Tidewater Mortgage is experienced helping veterans and active military members get the optimum financing for their home buying odyssey. After all, you’ve earned those rights. Call Tidewater today to discuss your options and get pre-approved for financing on a new home!
