4H Club- Hawaii Home Hunting Help

[MrSaturn]

So as I venture out into the world to buy my first house at my first 3 year duty station. I would like to get some advice from the forum because I know several of you own homes on Oahu.

I did alot of research and came up with the following plan.

I will soon be a LTjg and BAH would be around $2000 a month with no dependents. So that could get me a mortgage of about 250k. Then I could afford to get a cozy condo with 2 bed and 2 bath. The condo being fee simple not leasehold.

While I could afford to pay the monthly mortgage payment and property tax all by myself with the BAH, I figure that I could get a roomie for the company and some rent money for the additional room and bath.

Since I am going to be working mainly out of the Kunia Tunnel I was looking at areas like Ewa Beach, Pearl City and Millani. That are fairly centralized.

Anyone have any additional advice, tips or pitfalls to keep in mind?
Does anyone happen to have realtors that they would recommend?

 

[Gatordev]

Needing (and wanting) to live alone, I also used my COLA to help out w/ rent. Expect an extra amount of cash every month when you get there. Since I usually shopped at the commissary, living mostly off my regular base/BAS/flight pay was not a problem w/ my BAH and at one point, most of my COLA going to rent.

 

[MrSaturn]

...most of my COLA going to rent.

hmm that is an extra 400 a month... which means I would have a larger price range of homes...

 

[FLYTPAY]

Check out Navy Federal for their VA equivalent loans.....also if you are doing a VA, start the paperwork drill early....see if you can get a steal on a foreclosure....and make sure you do not have to pay a monthly condo fee, they are a pain in the a$$....Remember, with subprime woes, it is a buyers market, walk away from bad deals.

 

[Gatordev]

I think condo fees are pretty much a standard everywhere in Oahu. There are no actual apartments on Oahu, so the condo thing is the only deal going besides a house.

 

[MrSaturn]

see if you can get a steal on a foreclosure....]

I heard this but I am having trouble finding a place where I can look for these. I keep seeing sites which offer to give you information on foreclosed houses but they look like they are just trying to get a quick buck scammed out of me by paying $29.99/month for their database search...

 

[smustang51]

Yea, definitely don't use those stupid sights that charge you. Check with a local bank down there, all of that information is available to them as well as in county/city records. There may be something on the GSA website as well with the large military presence down there, although I have yet to find an actual deal on GSA. Regardless, that information is required to be posted and free to the public so start with some local government and or banks. Those pay sites are only designed to make the searching more streamlined.

 

[CaliStyle]

You should focus on Mililani. It's a nice clean suburbian area with lots of lush foliage. Stay away from Ewa Beach because Ft Weaver road sucks and it will take you forever to get to/from the freeway (H1). Pearl city is okay but it's crowded and kinda congested.

 

[MrSaturn]

Thanks for all the advice.

I guess I will just need a good realtor and I will be set. So if anyone has any advice on those