Relocating: Military Families
Buy or Rent?
Military families are not strangers to frequent moves. Yet, in many cases, buying may be preferable to renting. Housing allowances and special mortgage programs for military personnel can make owning a home an attractive and affordable option.
- Check out the current housing market where you will be relocating. In many areas, buying a home may actually be less expensive than renting.
- New homes offer additional flexibility as their needs change. Read about the personal experience of a retired Navy Commander and his family who live in (and love!) their Pardee GenSmart Suite at Eldorado Heights here.
- If you are currently in the military and meet certain guidelines, you may be able to deduct 100 percent of your mortgage interest from your taxes. Visit military.com/Finance/Taxes to learn more.
- Many renters prefer fewer maintenance responsibilities. However, many new homes today are designed to be low maintenance, featuring native plant landscaping and durable, easy-care construction materials.
- Owning a home allows you to have a fixed payment and build equity.
- Renting may subject you to periodic rate increases.
Finding the Right Neighborhood
If buying is the right choice for you, finding the right home in the right community is the next step. Most likely, you’ll want a home near your military base.
- Many neighborhoods, particularly master-planned communities, offer move-in ready residences, plus park and recreation facilities and convenient access to great schools, shopping and other amenities.
- Look for a neighborhood where other military families have settled. It’s great to have neighbors who understand the special challenges you face.
A VA home loan is a mortgage loan guaranteed by the Department of Veteran Affairs. This program was created specifically to benefit Americans who have served their country in the military and offers attractive options regarding down payments, types of mortgages, closing costs and monthly mortgage insurance depending on guidelines in your area. You may be eligible for a VA loan if you:
- Currently serve on regular active duty in the military
- Have served but have been discharged
- Have served in the National Guard or Selected Reserves for six or more years
- Are an unmarried spouse of a veteran who died on active duty or as a result of a service-connected disability
Documentation is generally required as proof of your service and certain conditions may apply.
Thank you for your Service
Pardee Homes is proud to help the men and women serving our country to attain the dream of home ownership. Our New Home Specialists are relocation experts and can help you find just the right home in the right neighborhood at no cost or obligation. It’s our way of saying “Thank you.”
We’ll do our best to make a difference in your life to honor the difference you’ve made in ours.
Connect with a New Home Specialist to learn how Pardee Homes can make finding your new home a whole lot easier.