Thursday, May 07, 2009

How are we supposed to play this game if we don't know the rules?!

As if wedding planning wasn't doing a fabulous job of filling my spare time (and downtime at work -- shh!), now that we know when and where we're going next, I've found a new hobby: house hunting.

I found two homes that I absolutely love. K loves them too. I got excited about the possibility of living in one of them (or a house like them) in less than three months.

And then I read that you shouldn't buy a house if you're going to live in it less than three years. Shit.

K is assigned to this base for only two years. After that, he'll be sent halfway across the country for a training course.

But ...

The housing market is crap right now. It's a great time to buy. And since things are looking like they're headed up, it seems logical that the housing market will improve over the next couple of years as well.

Plus, this home (whether we rent or buy) will be in the Virginia Beach area. There are several military bases there, and evidently the area is a pretty nice tourist destination (according to the Internet, anyway -- K and I have ever been).

I spent some time yesterday looking through rental houses in Virginia Beach. I found a few I liked, and K liked them too. The ones we loved were in the neighborhood of $2,000 a month.
That seems like a lot of money to just be giving away to someone each month. And multiplying that sum for the course of 24 months?! Wow ...

Now, we're stuck on what to do. Does the situation and location make it OK to throw the three years rule out the window?

3 comments:

Anonymous said...

I know nothing about such things, so I cannot be of any help. But there has to be some sort of smart bank/finance/realtor person you two could see, right?

a tall sassy gal said...

Just remember it is an investment and if you do buy you can always try to rent or lease it for awhile. We can talk more when I see you next!

Aimee D said...

My mom has lived in Virginia Beach/Norfolk area for several years now. She recently tried to sell her house and has now started looking for renters. It's a great place to live. You're going to love it there. Lots to do, lots of nice people. All the best to you and K in VaBeach.

Have fun with all of the tunnels(that took some getting used to)