Colorado Springs Vintage Homes Blog

Military relocation? 6 tips to read before you buy a home

Are you in the military? 

Are you relocating to the Colorado Springs area?    Do you want to purchase a home?

• Government and Military are #1 employers in El Paso County
• Relocate to an Award Winning City in the Colorado Rockies
• Relocating, it’s all about the schools
• High Altitude Tips
• Moving to Colorado Springs, check out Zip Skinny

Buying home is a complicated process which needs some investigation and education before making a decision.   if you are in the military, you should ask yourself some questions before making the decision to purchase: 

1. Can you get financing? (It’s important to talk to a mortgage professional to get pre-qualified for a loan.)
2. Is your tour of duty going to be longer than 2 years before the next PCS?   If you know your current tour is less than two years, you have to weigh the risks of  breaking even or even a loss when you go to sell.
3. Will you have the opportunity to do another tour here or will you have an opportunity to come back?
4. If you had to be a long distant landlord would you have the time or the resources?
5. Could you afford a property manager? (many property managers will charge 10% of the rent as part of their fee.)
6. Could you pay the mortgage for 2-3 months while the home is waiting for new renters?

Advantages of buying a home in the Colorado Springs Area

1. You may be able to buy a bigger home in the Colorado Springs area than you can rent for the same monthly payment.
2. You can decorate and remodel whenever and however you like.
3. If you qualify for VA financing , you may be eligible for a low down payment  loan.
4. There are  financial advantages to buying a home, including the tax deductions for mortgage interest and property taxes.
5. With lower prices, military members can buy more house today than they could before.  And sellers can be asked to make a contribution to the closing costs.
6. Prices are lower than they have been for the last 5 years.
7. Interest rates continue to remain low
8. Foreclosures provide wonderful opportunities for low home prices.

Must Read Posts:

• Government and Military are #1 employers in El Paso County
• Relocate to an Award Winning City in the Colorado Rockies
• Relocating, it’s all about the schools
• High Altitude Tips
• Moving to Colorado Springs, check out Zip Skinny

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Kathy (719-287-1049)   KTorline@msn.com

Tags: colorado springs realty, fort carson homes, Military in colorado springs, Peterson Air Force Base, relocating to Colorado Springs, relocating to Ft. Carson, relocating to The air Force Academy

This entry was posted on Monday, March 16th, 2009 at 5:12 am and is filed under Military, Relocation Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. deepa said at March 17th, 2009 at 2:23 am

   thanks for the tips
   Search more

   http://www.google.com

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