10 Tips for First-Time Home Buyers: PCS Edition
Rumor is you just got orders and want to buy a house, but you're unsure where to start. Well, aside from the obvious of calling me to help you, here are my top 10 tips if you're a first-time home buyer enduring our favorite season of them all: PCS Season.
Take advantage of your benefits: You get a VA loan for a reason; use it! This loan has terrific perks, like no down payment and no PMI! The Department of Veteran’s Affairs has a great rundown of the loan, including FAQ’s, benefits and eligibility.
CHA-CHING $$$$: Your BAH may increase OR decrease depending on where you are moving to. Be sure to check your allowance so you can plan accordingly! You can find a trusted BAH calculator here.
More $$$ Signs (because it’s important, y’all): Get pre-approved for your VA loan early on. Once you have your PCS orders, it's time to talk to a local lender. An excellent local lender is typically well respected and familiar with the market trends in your moving area. It also helps if they are VA specialists. They may also be an excellent resource for determining your BAH. Find our trusted lender here.
Budget Budget BUDGET: Factor in additional costs. Your mortgage payment typically includes principal, interest, taxes, and insurance. You'll want to ensure your budget has some wiggle room for potential maintenance costs and utilities.
Timing is crucial: Think about when you are due to check into your unit. How many days of leave will you be taking to complete the move? Will you be going elsewhere prior to moving in? These are all important things to keep in mind so you can plan your closing / move-in time appropriately.
Think Long Term: How long will you be stationed here? Are your orders only for two years? Is this a starter home, or do you plan to retire at this duty station? Would you be willing to use the property you buy as a rental later on, or do you want to sell it when you PCS? These are all questions to consider when you start your home search. Chat with your realtor about these answers so they can give you the best options.
Location! Location! Location!: Pick a home close to your base and nearby schools, shopping spots, and places to have fun. It'll make those 4 AM wake-ups a lot easier.
Research Local Schools: If you have school-aged children, research the quality of nearby schools. Look for areas with good educational opportunities that align with your family's needs and preferences. This can help ensure a smooth transition and a positive experience for your kids during this change.
Homebuyer Bootcamp: Attend homebuyer education programs offered on base. Being familiar with basic knowledge of loans and buying information will help ease the stress of the process!
Work with a Realtor Experienced with VA Loans: Look for a real estate agent who has experience working with VA loans and understands the unique aspects of military relocation and housing. Shameless plug, I know you've been waiting for it… I'm a certified Military Relocation Professional, so call, text or email me.
📞 (910) 546-5857
💌 rachel@loveandconc.com
Okay - that was a lot. However, try to remember with all of the stress comes a home you can call your own at the end of it! This really is an exciting time, and with the right lender and realtor it can be a much smoother process than you may be expecting.
Cheers to first homes! 🥂