Military Steps Towards Owning a Home
Purchasing a home is complicated if you are in the military. It is hard to make a long-term commitment to living in one area when you are unsure if you will be reassigned down the line. That’s why most bases include areas where housing is simple and easy to rent short-term.
However, many of those in the military find it aggravating to spend money on rent that could be invested into owning a home. Money from your Basic Allowance for housing and money that you earn working hard should not line a landlord's pockets. Instead, the money should contribute toward your future!
Rent to own could be a good solution. Rent to own is flexible, if you have a permanent change of station, you can leave the property without worrying about having to sell it.You can lock in a future home, and if you get transferred, you can walk away. In the typical home buying situation, being reassigned would mean having to sell your home or continuing to own a property in a location you no longer live. However, if you stay in the area for a while, you can build equity in the home and eventually purchase it.
Steps to Own Your Own Home Through Rent to Own
When you've been stationed in a certain place for a long period of time, you tend to grow attached. You and your family make friends throughout the community. When you've finished your service, it makes sense to want to stay in the same place.
At this point you:
- Know if you like the home
- Know if you like the area
- May have finished your service
- Have made an investment in your future
- Can sell the home, should you be transferred
Below are a few of the larger military bases within the United States, information about their communities, and why rent to own may be a good option.