As a member of the military, you face the prospect of regularly having to move around with your job. This causes many military families to avoid fulfilling the American dream of purchasing a house.
But you can own a home with less worry about what to do with it when you relocate. The secret is to look for real estate that will be particularly easy to sell or rent when you need to go. To help you find such a property, here are a few things to look for.
A Home That's Easy to Sell
The quicker and easier you can sell real estate when a PCS happens, the better. So before you commit to buying something, think of what the next buyers will want. This doesn't have to mean expensive amenities, though. Look for a solid home with all the basics and a few modern, simple features that buyers want — such as a dedicated laundry room, a usable garage, an outdoor entertainment space, or extra bathrooms.
Aside from a solid structure, the other big element in a quick and easy home sale is the location. Study the demographics of the area to determine what people here want from their location. For example, if your new home is an urban area near a university, focus on a walkable neighborhood with a thriving social scene for students. If the location is suburban, look for easy access to transportation and a more spacious property.
A Home That's Easy to Rent
Many military families like to keep a house as a rental, building up a nest egg. If this could be your plan, peruse the rental ads before buying a place. Compare monthly payments with the cost of homes in the area to ensure that you can earn what you need each month as a landlord.
Again, demographics will play a big part because you want to know who to market to. One good idea is to purchase a home near the base since you have the advantage of understanding military rental needs. Generally, wherever you buy, you'll want a well-kept mid-range neighborhood. Avoid areas that are too flashy or where yours is the best home in the neighborhood. High-quality renters like stability and simplicity.
Your budget will play a big role in a rental choice. If you overpay on a home, you'll need to demand higher rent prices and will suffer when the tenants turn over. Instead, stay on the lower end of your budget and plan to make a few renter-friendly updates during your stay.
If you plan ahead for the sale or rental of your house, you'll build an easier and more profitable exit plan. Want to learn more about the real estate market in your new community? Start by consulting with a military relocation service today.