E-5 Married in the navy and been doing bachelor's for about 2 yrs now. I saved up for about 20k and I am about to get a place in 6months.
As of now I am debt free and has a free money of 4500/mo after bills. My wife is coming to the united states hence she will not work for about 3-6months once she gets here.
My question is should I rent? or buy a place condo/townhouse for a starter
Posted by Capable-Team-3395
3 Comments
Buy a house with your VA loan, rent it out and hire a property manager when you move. Rent it to someone else in the military and your chance of renters issues goes down exponentially.
You need to provide way more information to actually get a solid answer. What is your emergency fund situation? TSP? IRA? Car is totally paid off? Will your wife need a car or other purchases when she arrives?
How much would your mortgage be vs your rent? Do you have interest in returning to this location in the future? If you PCS and there are gaps in renting, will you be able to cover mortgage with no issues? How will you address serious repairs or purchases that need to be done to the property?
Not looking to give a recommendation either way. Just wanted to chime in and give you some positive reinforcement. Dude, you’re doing everything right! Keep it up, pick a buddy of yours, or someone who doesn’t think like you (4-5-6 steps ahead) and try to teach them your way. It’s not hard, it’s just discipline and understanding that tightening the financial belt strap today isn’t permanent, but it goes a long way in making tomorrow easier. I’m sure whatever decision you come to will be the best one just given your current financial standing and ability to strategically plan. Keep it up!