If your military relocation takes you to a new location that becomes “home” in your heart, then you may want to think about purchasing property there for the long term.

Owning a home is a way to put down roots for retirement.  Although subsequent PCS assignments may take you far away, you know you have a home to return to when the time comes to leave active duty.

Retiring to a community where a military base is close by has many benefits, which includes easy access to base facilities and resources.  You’ll be able to:

  • Buy your grocery at commissary prices.
  • Shop the Exchange.
  • Access to military medical facilities.
  • Usually gain entry to on-base clubs, MWR facilities, and more.
  • You continue to enjoy the camaraderie and support of the military community.

If you do buy a home and must leave for a new PCS, renting your home allows you to retain ownership and take advantage of rental benefits:

  • Rental income helps cover the expenses of maintaining your home.
  • Rental property offers tax deductions.  (Consult a tax professional for tax advice on the advantages/drawbacks of owning rental property.)
  • In most military areas, it’s relatively easy to find property management agencies that can handle the logistics of finding renters, rental contracts and home maintenance issues.
  • During those years you are away on future assignments, your mortgage balance is dropping and equity is building.
  • You will build home equity that can be tapped for college expenses or updating and renovating your home.

Best of all, when the big day comes when one of your real estate investment may be a paid off mortgage and the extra money and time you need to enjoy leisurely days on the golf course or other favorite recreational activities.

 

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.