When you’re a member of the Armed Forces, you face some challenges when it comes to buying a home. There are quite a bit more factors to consider as opposed to being a civilian. However, at one moment it will be the right time. And if you can choose, the Sunshine State definitely should and probably will be at the top of your priority list. So, that’s why home-buying tips for military personnel and their families in Florida are here.
As we already mentioned, there are several things you should consider before purchasing a house. We understand that you are probably through the roof as you can forget all those decluttering tips for frequent movers, but don’t rush. Here is some advice on how to handle everything.
Research the market
It’s not an unusual case that the area surrounding a large military establishment is built with the idea that the base will sustain a good stream of housing revenues. However, maybe you and your family want to look a little bit further off-base. In that case, you need to get in touch with a real estate agent and research the housing market in your area.
Learn how the market works and what are the most important aspects you should focus on. Only when you know where houses hold their value the best and where don’t quite keep up, you can choose a neighborhood and start getting quotes from reliable moving companies like bigmansmoving.com.
Know what you can afford
Getting a new home is always exciting, but you mustn’t get lost in guides to Florida’s culture for newcomers and forget about the important stuff. Lenders will check your debt-to-income ratio to determine if you qualify. So, before you start shopping for loans, it’s a smart idea to check it yourself.
Now, this ratio is how much money is coming versus going out in debt payments. Therefore, add up all of your monthly debt payments and do the math. Your ratio shouldn’t go over 36 percent. For instance, if you’re earning $5,000 per month, the most you can afford to pay is $1,800. This way your debt-to-income ratio will be alright. Remember that qualifying for a certain loan doesn’t mean you can afford it.
Get the best possible financing
Luckily, one place where you can benefit from being active military personnel when it comes to buying a home is financing programs. There are many of them offered through most lenders by way of government programs. Research these options and make sure to understand them all before you make your pick.
When you choose the best option, the only thing left to be done will be the relocation itself. Now, we all know that military relocations are a little bit different than a regular household move. So, it’s your best bet to reach out to trustworthy experts to help you with everything.
It’s important to choose with your head, but don’t forget about the heart. Home-buying tips for military personnel and their families in Florida is here to help you pick the best home for your children. Keep that in mind at all times.