As a hardworking American, you deserve to provide a comfortable home for yourself and your family. This is true, in particular, when it comes to members of the military.
Perhaps, though, you’re interested in buying a home while you’re currently deployed in another country. Well, the good news is that you’ve come to the right place by reading this article. Detailed below are all of the things to consider when buying a house from a military deployment.
After all, the real estate market is booming, so jump in on it. One statistic indicates that in the year 2018 alone, over 5 million homes were sold in the country.
Become a part of that growing number by following these key homebuying tips. Keep reading to ensure your purchase of a home goes smoothly, even if you’re deployed overseas. As a member of the military, specific advantages are available to you.
1. Start by Evaluating the Costs and Your Available Budget
Of course, the first thing to consider is whether you and your family are ready for this financial investment. Buying a house is a long-term commitment, after all.
Start by looking at your current financial situation. Will you need a downpayment? While you aren’t required to put 20% down of the home’s cost, a down payment can reduce your overall and longterm expenses. Don’t let a lack of downpayment stop you, but consider whether or not you have the means to put money down.
Make sure you’re ready to take on the monthly mortgage payments, too. For more detailed guidance, check out this article on how to budget for a house.
2. While Deployed, You’ll Need to Rely on the Power of Attorney (POA)
You’ve been preparing for your overseas deployment for a while now. That’s why you’ve hired an attorney to represent your best interests while you’re away. By granting someone this responsibility, you’re trusting them with your investments and assets.
During the process of buying a house, then, it’s time to rely on that POA again. He or she can operate on your behalf as the negotiator and even house hunter. If you’re leaving a spouse in the United States while you’re deployed, he or she should work closely with your attorney, too.
3. Get a Loan from the United States Department of Veteran Affairs (VA)
One of the perks of being a member of the military is the fact that you have access to VA benefits. In particular, this can grant you access to a loan for purchasing a house.
In fact, the government wants you to be able to finance your home well. Since you’re investing your time and energy into protecting the country, it will invest in protecting your family at home. Take the time to research what kind of loan for your new house you can get from the VA.
4. Know What You Want in Your New Home Before Searching
The great thing about the modern Digital Era is its ever-expanding connectivity. That’s right, you can house hunt even from overseas while you’re deployed.
Feel free to do as much online research as you want to look for potential homes. It’s also smart to draw up a list of essential qualities you want in your new home.
For instance, would you prioritize the kitchen over the living room? Do you insist on a two-story house? These priority characteristics can help you narrow down your choices of potential new homes, even if you’re overseas.
5. Hire a Reliable Real Estate Expert to Help
Still, navigating your local real estate market can be difficult even if you’re in town and not deployed. That’s why you can trust a qualified real estate agent to work for you.
Their knowledge of available homes could be of particular benefit, too. He or she could even develop a relationship with your attorney and spouse to ensure everyone is on the same page. Take a look at available real estate agencies in your area to see if hiring any of them would make sense for you.
6. Sustainable Things to Consider When Buying a House
These days, it’s understandable for homeowners to place a high value on sustainable building practices. Eco-friendly homes are an ongoing popular trend throughout the United States.
If you have a love for sustainability, there are plenty of eco-friendly homes on the market if you’re willing to hunt for them. The great thing about these energy-efficient homes is that you can expect a lower utility bill on a regular basis.
7. Be Prepared to Care for the House in the Future
Plus, that lower utility bill can come in handy when you have to spend a lot of money on home improvement projects later on. Don’t expect your responsibility to end after you just sign for the house. There’s still going to be a lot of work to do.
Consider the following statistic regarding homeowners throughout the United States. On average, homeowners spend around one to four percent of the home’s overall value on improvement projects every single year. Be prepared to care for your home to protect your financial investment in it.
Buy the Ideal Home for You and Your Family Today
At this point in the article, you have a thorough understanding of things to consider when buying a house from your military employment. There’s no need to cut corners when it comes to securing the home of your dreams. That’s why you’ll take the above guidelines seriously.
Of course, there are still a lot of ins and outs to navigate when it comes to buying that home. It can, therefore, be in your best interest to continue to keep yourself well-informed of today’s real estate trends. Plus, it’s wise to work with qualified professionals when you’re looking to purchase a house.
In fact, that’s where we can come into play. We prioritize connecting families like yours with the ideal home they’ve always wanted. If you and your family want to live in the Oregon or Washington areas, you’ve come to the right place.
For that reason, we encourage you to browse through the rest of our website today to see how we can help you. To start, check out more details about applying for a mortgage for your new home.