WEGL said:
I'm a recently designated SNFO and will be graduating in August... if any of that matters.
Yes, it does. The closing costs are usually mostly paid for by the buyer. If you are looking to sell when you get orders than you'll probably have sunk 6-7 grand in creating loans that you'll pay back when you sell.
I was wondering what y'all think is best, buying or renting a place in Pensacola.
Depends on what you'd do with the money. Sinking money into a home has a lot of tax advantages, but if you rent really cheap and then invest the rest...you may have more money/less headaches in the end. The best person to talk to is a realtor. I have a great one in the PCola area, just PM me to get it.
I'll likely be there a while so I'm seriously looking into buying a home.
As a NFO, you have many different options and most of them are all over the US...
How's the home insurance/property taxes in the area? Would reselling likely be a problem?
Home insurance is running about 100 bones a month (USAA) and more if you are in a flood area (POSSIBLY Perdido Key, definitly Garcon Point). Taxes are looking about $1800/year for 2500 FT^2 home...and the bigger the home, the more the taxes.
Selling is never a problem, until you put contstraints on yourself. IE, you don't have time/money to fix things that need done...orders where you can't rent out the place and now can't afford the mortgage on two homes, etc. If you have the resources (money, renters, loan terms, etc) than you can sell the house for nearly anything (or rather wait forever to get what you want for it)...
Good question...sorry for the rant. I just purchased my second home (first detached) about 2 miles south of NAS Whiting and have my condo in Va Beach on the market right now. I rented last time I was in PCola. Hope I helped.
~D