Thread: Home purchasing
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Old 02-07-2011, 09:26 AM   #16
cmitch
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Default Re: Home purchasing

So you can see yourself settling down in this new town where you'll serve the remaining 2 years of service to our country.

What I would do is rent for awhile. Here are the reasons:

1. You've not actually lived there. Cities and towns are notorious for fudging on economic and crime facts to attract settlers.
2. You'll have to find gainful full or part time employment depending on your financial needs. Make sure you have a dependable job that you like, first.
3. House fever can turn quickly into house regret. Move into town and cool your heels. GEt you a 6 month or 1 year lease on a modest apartment. Once you've had time to decide what it is you want, then make the move.
4. Rent is the best short term value for your money. No responsibility, no upkeep. No, you're not throwing your money away. If you rent for a year to make a decision, chances are, you've only 'lost' about $500 worth of principle on the average loan.

The most critical of mistakes are made by FIRST TIME home buyers. More often than not, desire clouds the skies of reason. Experience is a good teacher. Hire a reputable home inspector for your first purchase.
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