Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
To buy a house or not....
Hubby and I will be PCS'ing soon and he only has about a year left in the military. I am prior service and I am eligable for a VA loan. We are trying to decide if we should but a house when we PCS or if we should wait till he gets out? Any suggestions, ideas??
Re: To buy a house or not....
That's not really enough info. What is your financial situation? Are you going to stay in the area of your next duty station after he gets out? If not, then why would you buy? I suppose I could see buying as an investment IF the rental market is not flooded and is very strong, but I know that's not the case where we are. Do you and your H have super fantastic civilian employment prospects (like he's an ATC or something)? MH does not, because his job is one of those fairly specific to the military kind of jobs, so I wouldn't consider buying until he gets promoted at least once more (to E6 so I know he gets to stay in, theoretically, since who knows what sort of changes to the rules are going to be made).
H and I do not plan to buy while either of us is active duty (I'm trying to join), with the exception being if a house came on the market at a fantastic price where we think we want to retire on the other side of the country, because it is a strong rental market. I don't believe we could use a VA Loan for what would not be our primary residence, though I haven't really researched it because I don't think we should buy there until H gets promoted and I get in + a few years. I think Tarheels&Rebels would be the person who knows most about VA Loans and rentals (if I'm thinking of the right person, I don't regularly lurk here).
Rates being low is not a good enough reason to buy. It really depends on your current financial situation and both of your prospects for employment. If he's Infantry, for instance, I would be loathe to buy until he has post-military employment.