Home ownership is still the American dream, but, for most military members considering buying a home for the first time, the real estate market can be overwhelming.
Also, the recent “great recession” has clouded many a prospective military home buyer’s vision of owning a home. This is particulary true for service members worrying about holding a home long enough to build enough equity to overcome an unexpected housing market downturn.
So, here’s some advice for the military member destined for a permanent change of station (PCS) in the San Antonio area.
First, don’t approach buying your primary San Antonio residence as an investment unless you intend to keep it as a rental property when you make your next move. Simply, the recent recession wiped away the concept of owning a home as an investment. Now, be advised to consider your home only as a place to live with the possibility of making some money when you sell it.
Second, when weighing the pros and cons of home ownership, keep in mind the exceptional value of the government’s BAH contribution to satisfying your housing needs. Even after considering the risk of losing money because of economic conditions or being forced to sell early because of an early PCS, most experts agree that it’s better to use your BAH to buy a home instead of paying it to a landlord.
Third, before deciding to buy instead of rent, consult with an experienced Realtor® who can refer you to the most a reputable local lender specializing in VA mortgages. Realtors® and VA qualified lenders are held to extremely high ethical standards in Texas. They are duty bound to give you fair and honest advice.
Finally, consider this. The San Antonio realty market has favored buyers over sellers for many months. Mortgage interest rates remain close to historic lows. The San Antonio home market is highly stable and offers some of the best values in the nation. So, why rent when so many factors favor your becoming a San Antonio home owner?
Talk to us. We specialize in representing active and retired uniformed services families.
We are the SanAntonioHomeQuest.com Realty Solutions Team, Realtors® at Keller Williams Legacy, San Antonio, Texas.
Contact Stephanie Kelley at swkrealtor@aol.com (210 867-8743), Randy Kelley at kelleybus@aol.com (210 863-2661), or Missy McBee (se habla espanol) at missymcbee@kw.com (210 288-9810)
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