For those in the military who have been through this experience what are the pros and cons on buying a house?
When you mebay be there only 3 years should you" risk "on buying a home ...is it even worst it(or would you wait until your retirement rolls around)?
From your experience owning and selling a home after 3 years is it a good investment,does it even out,or did you had to pay out of your pocket?
thanks
2006-11-06 04:21:30 · 6 answers · asked by Sunshine 4 in Politics & Government ➔ Military
With your thinking and comments beeing placed i`m sure Mr.D is just waiting for u!!!
Those imature NON answers u give......mmhhh no wonder you can`t answer anything ,cause u don`t know nothing!
2006-11-06 09:13:29 · update #1
UK EX...........
2006-11-06 09:14:02 · update #2
Thank you yahoo answers they deleted uk ex answer!!!
2006-11-06 18:25:51 · update #3
Buying a house isn't even a good tax break any more. Last year, we couldn't even claim our interest because we didn't pay enough. There's a minimum on how much you can claim. We bought our house because we retire in 2 years and know we want to stay here after that. Buying a house is a risky move. You might stay less than 3 years, as happens often. We have many friends that bought houses, then couldn't sell them when the time came. They ended up having to pay a mortgage until the house sold, plus rent on a house where they PCSed to. Some have even lost money because the housing market went down where they lived. One friend, their house stayed on the market so long, that they ended up having to rent it out. That became a whole other headache. They had PCSed, so they had to hire someone for upkeep and maintenance on the house, such as things breaking or whatever. They had to make sure the rent was collected every month. They ended up dumping the house for a major loss.
Buying while you're still in and PCSing is a risky move. There's some good, but there's alot of risk.
2006-11-06 06:55:07 · answer #1 · answered by HEartstrinGs 6 · 1⤊ 0⤋
Well, if you are planning on retiring at a certain base/area, then buying a house in that area is certainly a good investment. Even if you get PCS orders and leave the area for two or three years, you can rent it out while you're gone and come back to it when you return.
If you're in a less desirable area, you should still buy. There will always be Soldiers coming into the area your in and looking to buy. If you're the Handyman/woman types and can fix up the home you buy, you'll always get at least what you paid, but probably more.
Remember renting has it's own set of headaches. Noisy neighbors, not building any equity of your own, vehicle theft, break in's, etc.
2006-11-06 04:35:33 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Depends on where you are at. I made off good with having a house for only 2 and a half years in Tucson, but it all depends on the housing market at the time. Pros, the military is essentially paying your mortgage, cons, you get orders whenever. And turning down orders sometimes can kill a career.
2006-11-06 04:44:33 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It is definately a gamble.
The pro's are: Its great for tax purposes.
The Con's are: You might get deployed or have to move before your time is up. Nothing is concrete in the military. If they tell you you'll be in a certain location for 3 years, well that can change real quick!
2006-11-06 04:26:14 · answer #4 · answered by ? 6 · 1⤊ 0⤋
You could look at it as an investment, that you would rent or resell when you are re-assigned. In todays market tho, home buyers have the upper hand, not the other way around.
2006-11-06 04:25:05 · answer #5 · answered by beeotch 3 · 1⤊ 0⤋
pros military paying my morgage. cons been here a year and got orders
2006-11-06 11:23:43 · answer #6 · answered by turkey 6 · 0⤊ 0⤋