Barnes is moving..to Texas

[Barnes93cb]

Howdy Yall,

The Air Force told me that im moving to Texas either early September or early October.

Now to determine if I am buying or renting a house. I will be there exactly 4 years with guaranteed income. The market is sided very heavily towards buying. Renting is pretty insane compared to other markets I have lived in.

Now the pros and cons. I can get a VA loan that doesnt require a downpayment. But I do also have a bit of money to put towards a downpayment. Probably not the standard 20% though.

I can do what I want with the house. Im pretty handy if something were to need repair. And I can keep the house after and rent it out. The base isnt going anywere for a long time. So there is a constant population and also a pretty strong transient population. People always there to rent or buy.

[stripethree]

Abilene I presume?

[goIftdibrad]

Rent esp in fucking texas

[Johnny_P]

Where are we talking?

[stripethree]

Rent esp in fucking texas

Dem property taxes. Yup.

[Barnes93cb]

Abilene I presume?

San Angelo

[Barnes93cb]

If you buy, would it be to keep it and rent it out or sell it when you leave?

You're good with you're money. Many young guys in the military are not. Buy less than you can afford to make it easier to sell or rent when tbr time comes.

I would like to keep the home long term. The base is not going anywhere for a long time. I see the house as a possible investment. Looking at growth predictions for the area, things seem to be on a solid positive trend. A few large companies have decided to start businesses in the town also.

Yes ive already started looking at the market. Not only what my desires are in a home. But what may appeal to potential renters or buyers in the future.

[Barnes93cb]

Rent esp in fucking texas

Why?

[Barnes93cb]

Where are we talking?

San Angelo

[Barnes93cb]

Rent esp in fucking texas

That market is gonna get fucked

How/why?

[Melon]

House prices are high right now, only good side is interest rates are low.

Rent for a while, and feel the market out over a year or two.

[razr390]

House prices are high right now, only good side is interest rates are low.

Rent for a while, and feel the market out over a year or two.

12 month lease to learn market, and then make a decision for long term after

[goIftdibrad]

Rent esp in fucking texas

Why?

Thousands of houses in every region of Texas have been built on the assumption cash will stay cheap, employment high, and wages will grow. All three of these are starting to dry up. That's factor 1. Factor 2 I that in Texas there is so much dirt cheap land there is a near endless supply of spots to put new houses. When the market gets rough builders will still build new cheap shit.

3. The sprawl in texas is fucking epic and one day people with be forced to see that it is unsustainable and all those 'cheap' houses out in the sticks wont be worth their lot value.

4. Property tax is high af in the burbs, its how they fund the school systems. don't buy into that life without the kids to go with it. So just because you see a 'cheap' house you need to tack on another 5-10k a year in property tax.

and 5.

I would like to keep the home long term. The base is not going anywhere for a long time. I see the house as a possible investment.

Housing is not an investment.

[goIftdibrad]

3. The sprawl in texas is fucking epic and one day people with be forced to see that it is unsustainable and all those 'cheap' houses out in the sticks wont be worth their lot value.

4. Property tax is high af in the burbs, its how they fund the school systems. don't buy into that life without the kids to go with it. So just because you see a 'cheap' house you need to tack on another 5-10k a year in property tax.

and 5.



Housing is not an investment.

6. Next president regardless of party with be FORCED to cut military spending and BRAAC will be back on the table. Don't assume bases stay forever.

Yes, mostly #6. The music has to stop on the military industrial complex soon.

[razr390]

Musical chairs.

[razr390]

Barnes, just invest in an apocalypse ready Sprinter van.

[KYGTIGuy]

6. Next president regardless of party with be FORCED to cut military spending and BRAAC will be back on the table. Don't assume bases stay forever.

Yes, mostly #6. The music has to stop on the military industrial complex soon.

Not if this North Korea thing works out like Bolton hopes

[max225]

30 year loan is now 5% interest... I don't know how ppl can afford that shit... outside of telling themselves the "price of the house will go up 20% a year" as it has in the past few years...
Inflation is nuts.

[ChrisoftheNorth]

Rent.

with interest rates creeping up and housing values going now really isn't a good time to buy. Not to mention, managing a rental if you live far away will be an epic PITA, so there's just a whole bunch of going on here.

[SAWCE]

Rent.

with interest rates creeping up and housing values going now really isn't a good time to buy. Not to mention, managing a rental if you live far away will be an epic PITA, so there's just a whole bunch of going on here.

I can concur with this. Being a long-distance landlord is a PITA. You can somewhat mitigate it by using a property management company, but then you're losing some of the money you'd be making, and depending on what the market does and how much your mortgage is, you can find yourself out of pocket some money every month pretty easily.

[Johnny_P]

Rent.

with interest rates creeping up and housing values going now really isn't a good time to buy. Not to mention, managing a rental if you live far away will be an epic PITA, so there's just a whole bunch of going on here.

Housing prices are insane. There has to be a correction sometime soon.

[KYGTIGuy]

DFD, the life advice blog you didn't know you needed.

[Barnes93cb]

Barnes, just invest in an apocalypse ready Sprinter van.

What about a truck and camper?

[Barnes93cb]

Correct. Not the advice I was expecting to get. Not what I wanted to hear at all.

[ChrisoftheNorth]

Super tough time to move right now, but you gotta do what you gotta do.