OWN
PRO: It’s yours! No more measuring military housing windows to get yet another set of blinds that won’t fit in the next house. You can paint every room a neon color if you want without worrying about getting a deposit back. When you own, it’s up to you how to handle every inch of that space. If you love where you’re stationed and know it’s where you want to put down roots after the military careers are over, why not buy!
And for those who worry about buying knowing that they will PCS at some point, if you own it then it can become a rental property. Especially in areas with a high military concentration such as Norfolk or San Diego there are always new military families coming into town looking for dependable places to live so renting to another military family would be a way to ensure you have a good quality tenant who is going to pay rent on time. Military By Owner is a great place to list a home for rent when you’re ready for that step.
CON: If you choose to buy, then every repair is on you. When Mr. Murphy comes calling it’s vital you have a good cushion for home repairs because there is no landlord to take on those responsibilities. And some people aren’t sure they want to take on the task of renting out to others when they move so then it’s a risk you take losing money trying to re-sell a house you recently purchased. Also, taking into account the mortgage, home owners insurance, all utilities, property taxes and other miscellaneous fees that pop up it might not be the best financial investment for some families.
