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Picture of Casey Hayes
Posted
I'm just looking for a little insight here. I'm planning on re-enlisting during an upcoming deployment (but not till year 2010) I'm going to be looking to go to Fort Lewis. Planning on getting that assignment and buying a house. I'm just curious as to everyone opinion on the best thing to do about buying the house. I know its needs of the army and i will almost inevitably be PCSed to a new location, but what would you all do about the house? My wife is conserned about letting other people live in our house (rent it out) but I really don't see any other way. What;s the longest you know of people spending at one duty station (besides the people that pull strings to stay at one location) When I reenlist ill be at about 7 years and I fully plan on doing 20. What's everyone's thoughts on this situation? Thanks
 
Posts: 41 | Location: Fort Sill | Registered: 07 March 2007Reply With QuoteEdit or Delete MessageReport This Post

Picture of MikePN
Posted Hide Post
It's a tricky one buying a house in the military. I know of a few people that have done it but more close to the time they would be getting out. Around 18 or 19 years. I'm not in anyway saying don't buy a house, but seeing as you have way to go till 20 years I just wouldn't do it. There have been a lot of foreclosures around military bases now days mostly due to the real estate market boom. In my opinion I would rent a house for now if that is what you really want is a house to live in. If you do get into it, by all means do a lot of thinking about it. I know it's something you see on the news, but the economy is tipsy right now. Being in the military with a war going on isn't so bad for us. In this day in age we will keep getting paid by the government which has a stretched thin military already. Our pay isn't going to go down anytime soon. Also, a lot of bases are building better housing all around. They are doing what they can to keep us around if you look at it. Really the only thing that should be hurting most of us in the military is gas prices. Got off track there, but all I can really tell you is bottom line, do your homework on the area and what you really want for long term with a house.
 
Posts: 37 | Location: Hawaii | Registered: 29 January 2008Reply With QuoteEdit or Delete MessageReport This Post


Career Counselor
Picture of ArmyReenlistment
Posted Hide Post
I've bought three houses and sold two of them in the past six years ... and sold them without a realtor.

It's nerve racking but it always worked out for the best. It's pretty easy to secure a loan with the assistance of the VA Loan Program (for military); I actually used this service once to buy my first home.

If you have decent credit (above 700), you'll easily qualify for a home loan. You can go either do a 80/20 loan or have the entire loan wrapped up into one.

If your concern is selling the house in a few years, do what I did create flyers and distribute them all over post as soon as you now you're on orders. Hang them in the PX and commissary and get with sites such as militarybuyowner and the like. It's a great learning experience when you sell your house.


It's YOUR career! Take control of it before someone else does.
http://www.ArmyReenlistment.com
 
Posts: 6356 | Location: Fort McPherson, GA (FORSCOM) | Registered: 31 December 2004Reply With QuoteEdit or Delete MessageReport This Post
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