Buy, Sell, or Rent: Should Military Families Avoid Real Estate?


family-moving-truck‘Tis the season for orders, which means your next PCS move could be right around the corner. Will you live on base, rent out in town, or buy a home? We are guilty of all three.

At one duty station, living on base was the best option. At another, we rented in town to be closer to my job. And at a third, we bought at house. To make matters worse, we committed the big ‘no no’ you’re warned to avoid: we bought a house on the internet without even seeing it in person. I know, I know. But it actually turned out well for us!

So, what’s the problem?

It’s time to move.

AGAIN.

And we committed the second sin of home-buying when we fell in love with our house and invested a significant amount of money in improvements. But why would you spend money on home improvements knowing you’d be moving again in a few years? Well, even though we know military life is unpredictable, we simply thought we would be here longer.

Now, we have two choices: become a landlord and rent out our home, or try to sell.

We decided to sell. And, guess what? Only on the market 48 hours and we had two full price offers!

This is a completely different experience than our first home-selling experience over 9 years ago; our house sat on the market for 11 long months unsold and without a renter. We had to cover our mortgage and rent, and continue to drop the asking price of the home. It was a challenging and expensive experience.

Yet, here we are again. And this time, we appear to be on the right side of market. Our greatest challenge has been finding a new place to live in such a short time. Even though moving, again, can be a hassle, it’s a much better place to be in than waiting for someone to rent, or buy, our home. Our current home is in escrow, but things could always change. Fingers crossed for us!

If you’re waiting for those upcoming orders, and may have to contemplate the “should we become landlords or sell our home?” question, I’m wishing you well!

Are you a military homeowner? When it’s time to move, will you rent out your home or try and sell?

katie2Posted by Katie Savant, Government Relations Information Manager

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  1. 1
    Monica

    We bought a house at our current station because they told us we’d be here 3-3.5 years. Two years later we’re on the list to move… We will sell our home if we have to move. I don’t want to deal with being a long distance land lord and our house has appreciated considerably so we should be able to make $30-40k even though we’ve only owned it for 2 years. We got lucky in that regard for sure.

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