Helping service members buy a home
Buying a home is a milestone for both civilians and members of the military. Just like civilians who travel a lot for work, those who are stationed in Florida or elsewhere may need to take their job into account when timing their home purchase. This is because a person in the military may be ordered to another base or deployed with little or no warning.
It is also possible that the current assignment is a temporary one. Those who are going to be on their current base for less than two years may want to shy away from a home purchase as it tends to be a long-term commitment. If a member of the military does choose to buy a home, he or she should have a plan as to what would happen if new permanent change of station orders came in.
At that point, an individual would need to either rent the home out or try to sell it. The location of the home will also have to be taken into consideration. While some like to buy homes closer to the base, others may not mind having a commute or otherwise having an escape from work. Members of the military may be eligible for VA loans to help finance the purchase, and they should take funding fees into consideration when choosing such an option.
Whether a person is a civilian or a member of the military, it may be a good idea to seek help from an attorney prior to closing on a home purchase. Doing so may make it easier to understand purchase contract terms as well as mortgage terms.