Should I buy or rent a home if I'm relocating to a military base?
The choice of buying or renting or even living on-base may be in your future if you're considering relocating. Considering may be not even the right word since it's typically a requirement to relocate every 18 to 24 months for some military personnel. But when you do relocate is it smarter to buy or rent? And if you rent should you just simply settle for on-base housing?
While many first time GIs or single military personnel may choose to live on base because of the ease and the low-cost of living, those that relocate with their family may feel they need a larger home off-base. The decision now rests whether they should rent or buy.
Buying in this economy is not necessarily a bad move even if you have to relocate in a couple years. Depending on aware your moving to or from you may be allowed to stay in one area for longer increasing the chances of purchasing a home rather than renting. Finding homes near military bases is easy when you have a good agent that optimizes the website as such. Real estate agents are often promoting specific landing pages such as homes near Fort Stewart, houses for sale near Fort Campbell, etc.
This can often help folks find exactly the right home near a certain bases entrance and possibly get special military discounts on the landing pages. Agents that don't optimize their landing pages for this specific type of search are not going to get these military relocation buyers. Often times agents may not even consider assisting military personnel due to the fact that many simply settle for on-base housing.
Renting may be an option if there are homes for rent near a military base. While this situation provides less inventory then homes for sale, it is an option in many areas of the country. Several track home neighborhoods and communities are perfect for investors to purchase and rent due to the increase of military personnel in the area. This is the next opportunity for those that are looking to purchase homes and turn them into rental investments.
So whether you are moving to purchase a home near military base or you're buying a home to rent out to those relocating to and from the area, buying a home near a military base is a smart move. Even if you are military personnel and you choose to purchase a home, later you may rent it out to other military families and discovered this is an excellent source of income.