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The Water Cooler
General Discussion
Buying first house, stationed at Altus AFB. HELP!
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<blockquote data-quote="Mad Professor" data-source="post: 3122247" data-attributes="member: 5316"><p>My recommendation is to not buy a house. </p><p>You know you will have orders on 4 years or so. Then you will own a house you can’t live in. The chance of timing the sale of that house with your date of departure, is slim. </p><p> Working with the military (as a civilian), I saw first hand of the impact it had on the military members that were playing long distant landlord on properties they could not sell. </p><p> There is minimal chance you will recover the costs associated with a home purchase and subsequent if you are borrowing money on it in 4 years. Maybe if the market makes a steep climb. It is not worth the risk. Think about what happens if the house is on the market for 6 months and you are paying payments, taxes, insurance, and utilities during that time. </p><p> You will loose 6% to sales commission fees when selling the home. </p><p> The chance of you wanting to return to Altus at the end of your career is very small. Even if you do, I doubt you will want to live in the same house. </p><p></p><p> Home ownership is a longer term commitment than 4-5 years unless other reasons exist. IMO, you would be better off renting or utilizing military housing if available.</p></blockquote><p></p>
[QUOTE="Mad Professor, post: 3122247, member: 5316"] My recommendation is to not buy a house. You know you will have orders on 4 years or so. Then you will own a house you can’t live in. The chance of timing the sale of that house with your date of departure, is slim. Working with the military (as a civilian), I saw first hand of the impact it had on the military members that were playing long distant landlord on properties they could not sell. There is minimal chance you will recover the costs associated with a home purchase and subsequent if you are borrowing money on it in 4 years. Maybe if the market makes a steep climb. It is not worth the risk. Think about what happens if the house is on the market for 6 months and you are paying payments, taxes, insurance, and utilities during that time. You will loose 6% to sales commission fees when selling the home. The chance of you wanting to return to Altus at the end of your career is very small. Even if you do, I doubt you will want to live in the same house. Home ownership is a longer term commitment than 4-5 years unless other reasons exist. IMO, you would be better off renting or utilizing military housing if available. [/QUOTE]
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Buying first house, stationed at Altus AFB. HELP!
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