Deciding whether to rent or buy can seem like a daunting task. Managing investment risk with your 3-4 year+ PCS assignment must be thought through. When our military clients have trouble deciding whether to buy or rent, it often can be worked out with a simple pros and cons list!
Benefits of Buying:
- Potential to sell your home for a net profit.
- Ability to make alterations to your home as you like.
- Mortgage payment will increase the equity in your home. You pay yourself and not a landlord!
- Mortgage Interest tax deductions.
- No risk of increased rental amounts from a landlord at every lease renewal.
- If you move you have the opportunity to earn rental income on your home.
- You own a home in HAWAII!
- 0% down VA loan requires no down payment. Some VA home loan lenders can cover some or all of the closings costs. Depending on your lending situation, the amount of money needed to close on a home could be less than a rental deposit.
Benefits of Renting:
- Moving out is easier with no need to find a tenant for your home.
- Landlord fixes problems at their expense.
- Closer to work if renting on base/post.
Looking for more information or expert real estate representation? Our Military Specialized Team is ready to assist you. Contact us today!