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Should Military Members Rent or Buy
Here at Nancy Chandler and Associates we get asked this question a lot and the answer really depends on you. The Hampton Roads communities of Norfolk, Virginia Beach, Chesapeake and the peninsula have all benefitted from an influx of military members. As such, we’ve seen neighborhoods and shopping centers spring up surrounding and in support of the military men and women assigned to area ships and bases.
Whether or not you choose to buy a home in Chesapeake, Norfolk, Virginia Beach, Yorktown, Newport News or Hampton really depends on what brought you here in the first place. Was yours a specialized job? If so, it may not be feasible to expect that your line of work will bring you back here to Hampton Roads. However, many of our military friends are on their second or third tour here in Virginia and it seems likely that they’ll always have a reason to come back.
If you have a young family or plan to start one in the near future, choosing a home with a strong neighborhood school is a tremendous draw. It will make your home more attractive to future buyers, make your home easier to rent and give you the stability you need should you choose to stay. If your children are older, you’re in real luck. Hampton Roads is an academic powerhouse with Old Dominion and Norfolk State Universities in Norfolk, Hampton University in Hampton, William and Mary in Williamsburg, Regent and Virginia Wesleyan in Virginia Beach. Your house could be just close enough to accommodate a budget conscious commuter student or just far enough away to allow for a really great college experience (one that includes the occasional comfort-food filled weekend).
If you’re still unsure about whether to rent or buy schedule a time to sit down with a professional from Nancy Chandler and Associates. With interest rates at an all time low, and many homes at buyer-friendly prices, you could be looking at a tremendous savings should you choose to buy.