People who are relocating will often find a local website that offers MLS listings and start to search for either a rental property or one for sale. While it makes sense to view listings and discover what is available, it is also essential to consult a real estate agent to learn more information about the current market trends for that area. The realities of the real estate situation differ greatly from place to place.
Renting Is Cheaper than Buying
The above statement is true in many regions and states in the nation, but does not apply everywhere. In many counties in Hawaii, for example, the demand for rental properties is so high that rents are much more expensive than mortgage payments. The difference is significant even when taking into account the need to pay property taxes and homeowners insurance. People can spend more money than is necessary if they ignore local trends.
The Affect on Military Families
Most military families are accustomed to moving around several times over the course of service. The market in Hawaii offers an opportunity to make the most of the housing allowance and save money while investing in the future. Seek out a military Realtor Oahu to assist with explaining the benefits of buying instead of renting. An agent who is a Military Relocation Professional (MRP)is the best resource for families. To qualify as MRPs, agents receive special education that allows them to understand how basic allowances for housing are determined and what programs are offered to military personnel in terms of support and benefits when meeting housing needs.
Renting is common among families in the military because it is easier to just pack up belongings when relocating again. There are no extra costs for household repairs and maintenance. Most rentals are furnished, so storing large items is rarely a problem. The downside is constantly living in spaces that do not reflect the preferences of family members. There may be small decorations put on the walls, but the colors of the walls are already decided when the family arrives. The chairs may not be comfortable, the kitchen may not be large enough, and the yard may be non-existent. The circumstances do not exactly make the place feel like a home.
Build Stability and Equity
Purchasing a home will provide stability and security for the future. Equity rises with every mortgage payment, the space can be rented if the family relocates, and there will be a home in paradise when it is time to retire. The market trends right now favor buyers instead of renters. Take a few minutes to visit out site and explore all the possibilities.