Buying a House for 2 years

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It is hard to tell without more information. What do the numbers look like if you keep it as a rental? And do you want to be a landlord? For most people, it is cheaper to rent than to own. This changes at about the 6 years mark So if you are planning to own it long term then it would make sense if it cash flows based on your numbers today.

Tightwad_Todd

If you want to keep it and hire a property manager, then maybe. If you’re not going to be there, you need a property manager to do all the work. If you hire a property manager, you can no longer be picky about who you let rent. If they qualify, then they can rent it, so that’s something to keep in mind. If you’re going to sell it in 2 years, then absolutely not. If you’re relying on rental income while you’re gone to keep you afloat financially, then also absolutely not.

Tricerichops

This might be an okay situation, but you are missing some fairly large costs: * Closing costs, which can be 2-5% of the value of your home, sometimes higher * If you rent, part of the cost of being a landlord is to lose about one month rent per year on average to things like advertising the home, showing it, cleaning between renters, regular repairs, assumed destruction (renters tend to care less than owners about scratched floors and other damage). This doesn’t mean every year, but it’s part of the budgeting process. * If you are very unlucky, you may get a renter who ends up suing you or refusing to leave or doesn’t pay rent and you have to sue them to evict them. This can cost tens of thousands of dollars, erasing all the capital you built up in your home. In short, there is a lot more risk than you say here, but not as much as the average home purchase. My advice? Expect to rent, but if you find a house that feels really perfect for your needs, go for it.

LeskoLesko

how expensive of a house? do you have family/non-military friends local to act as landlord in your absence? also think about the other guys you are serving with: you trust them with your life when shit hits the fan but how many of them would you trust to shut off the water and fix a drip under the kitchen sink vs just letting it drip since it’s out of sight out of mind when you are 1/2 way around the world on deployment personally if it’s a 100-150K house or less i might be tempted as it should be easy to flip later, 150+ i’d be more cautious as its harder to find a buyer for those quick. if it’s 12K/year that is also a factor vs a 1 time 12K payment

dmaxd123

If your plan is to rent it out after 2 years, what is your plan for your next living arrangement? If you’re looking to purchase again, keeping this property as a rental will put a serious damper on a down payment unless you have more cash set aside. If I were in your shoes I’d rent and keep your current savings in a savings account for your next move. Assuming your next move is more permanent, buy a house then you can see yourself in for 10 years.

Degausser89