Making this decision myself and knowing what I know now, here are some questions and considerations for you to think about before your next move.
If you plan on doing it all yourself, know and understand the Fair housing laws.
You can find most of the information you need from the internet, keep to reputable sites, family and friends. The housing market and laws are always changing so be careful when you decide to try and do it by yourself. Full disclosure, I did it on my own for many years. Once I was educated on the process, I found myself saying, I wish I would have known that or I should not have done that. You also might not know what questions you should be asking.
Should l/we buy, rent, sell my current home, rent out my current home, sell my current rental property and what, if any, are the government options. Do you truly understand how the VA loan process works? Especially if you are thinking of buying or are already using your VA loan benefit you need to have all the facts. Below, you will find some information for consideration.
Renting seems the easiest for families who are always on the move and there is something to be said for not having a long term commitment. There are multiple options available; rent a home, an apartment, or a condo; 1 year verse multiple year lease. There are pro’s and con’s to each of these choices. Pets can sometimes be an issue as well. Most rentals will have a pet limits or type of pets clauses. In most cases if you are renting you could have bought a home, if you wanted.
Thinking about buying? Location, schools, traffic, recommendations from family, friends and co-workers, and activities will all play a part in where you decide to buy, but I want to give you a couple of things to think about before you buy. I know we all want the best schools, best location and the best home. We hear from others “hey you should live here”, well if it’s not really in your budget, don’t force it. Figure out your budget, then stick to it. Look ahead to your next move. Will there be a next move? This important because when you get your next assignment you do not want to limit your next housing options. Once your budget is determined, consider all the advice, but find the best place for your money, your current needs, and future needs.
Thinking about selling your current home before you move? When should you put it on the market, how much should I sell it for, sell it yourself or use an agent? All great questions with a ton of different answers. There are so many options today.
Want to rent out your current home? Hopefully, you are deciding to rent out your current home because you want to and not because you have to. We rented out our home for many years on our own. Sometimes my tenants were great and sometimes not. There are definitely a lot more options today for property managers than there was then.
Finally, your VA loan Benefit. How does it actually work? How much do you qualify for? I thought I knew a lot of about the way this loan program worked, then I became an agent and learned so much more than I thought I would. Answering questions like, where to start, or how the loan program actually works, is what I love best about my job and why I am passionate about educating as many people as possible.
Take some time to go through the questions below, send me an email or give me a call. Let’s start the conversation so you can get a better understanding of today’s market no matter where you want to live. I have access to people around the world who can help make this transfer a little less stressful.
Questions to consider before we talk.
I would love to be the person who helps you on this journey, but if I’m not, I want to give you some information to think about so you’re as prepared as you can be, and I wish you the best of luck.
Where are you moving?
What are you looking for in your next home?
Do you have a home to sell or rent?
Do you want to rent or buy?
Do you know how to get your VA Certificate of Eligibility? For how much do you qualify? Do you need a down payment? How much can you afford a month? House payment, utilities, insurance, HOA fees, commuting costs, taxes, and more all figure into what is affordable.
If selling, how much is my house worth? When should I start the process and why? Should you spend money fixing up the home?
If buying, when do you need to start looking and why?
Thinking about renting? When should you start looking? Multiple year lease or one year lease? Pets? Soldiers and Sailors act?
Thinking about renting out your current home? How much should you rent it out for? Hire a property manager or do it yourself? What should you include in the rent if the numbers work out?
Should I work with a Realtor or do it myself? How does a Realtor get paid when he/she helps you buy, sell, or rent a home. What does the Realtor and company do for you? Difference between listing price, offer price and assessment price. Different types of representation and what they actually mean.
You don’t need all the answers now, that’s the first thing I can help with getting you through.