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Top 5 Things to Keep in Mind When Looking for Off- Base Military Homes

You should know these 10 things if you are looking for an off-base military housing in the United States.

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Top 5 Things to Keep in Mind When Looking for Off- Base Military Homes

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  1. Top 5 Things to Keep in Mind When Looking for Off- Base Military Homes

  2. Introduction • Military families often move from place to place frequently due to unpredictable stationing duties. • This means those who work in military are usually given accommodation on-base. • However, many families choose to look for off-base housing instead of settling in an on-base house.

  3. Advantages of Off-Base Housing • You will probably get a bigger house at the same cost off-base as compared to on-base houses. • No interference between personal life and work life. • Great choice for those who want to live a civilian life while at home.

  4. Tip 1-Buy or Rent? • The first thing you need to decide when looking up military home listings by owners is whether to buy a home or rent it. • If you are going to stay at a place for a short time, then renting a home is a better idea. • For purchases, if your monthly mortgage is less than monthly rent, then buying is a better idea.

  5. Tip 2-Ease of Resale • As military men/women can be transferred at short notices, it is important to have a home with high resale value. • This is to minimize the loss if you are suddenly transferred to some other base. • Location, age of home and the market rate of the locality are top factors that affect the resale value of a house.

  6. Tip 3-Tax Benefits • It is important to avail tax benefits on homes that you own. • This effectively decreases your monthly ownership costs, and is not applicable for those who stay on rent. • If you choose to put up your property for rent after moving away, you will have to pay tax on the rent earned.

  7. Tip 4-Proximity to Base • Proximity to work location is one of the biggest advantage of on-base houses. • Hence, you should stay as close to the base as possible to avoid long travel durations to work. • You can check the areas near base that have military homes on sale/rent put up by owners online.

  8. Tip 5-VA Home Loan or Traditional Loan? • Department of Veterans Affairs provides home loans to eligible military men/women. • Do check your availability for the same before applying for a home purchase loan. • An important clause of the VA Loan, which is not present in traditional loans, is that you cannot buy more than one home under the scheme. • VA home loans often have slightly less interest rates as compared to traditional loans.

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