Moving Tip for Our Military Families: Should I Buy or Should I Rent?

With mortgage rates at record lows and housing prices remarkably low, it may be very attractive to buy a home.  However, before you decide to take the plunge, think it over thoroughly.  There are several factors you should consider ahead of time carefully.  First, how long do you expect to be in your new location?  If you are only going to be somewhere for only a year or two, depending on the location renting may offer the most flexibility with the least risk.  Second, assess the market conditions of the new location carefully.  Some markets are still very depressed and may not recover in enough time for you if you have to sell in a year or two.  However, if you are planning on retiring or pursuing a civilian career after moving, you may consider purchasing a home because you will be there long enough to realize a gain in your investment.  In any event, nothing is guaranteed but thinking it out ahead of time will save you from making a potentially costly mistake.

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