Home Buying in Jacksonville>Question Details

Victoria L, Home Buyer in Jacksonville, NC

My fiancé and I are trying to decided on if we should rent or buy our first house.

Asked by Victoria L, Jacksonville, NC Thu Apr 4, 2013

We are getting married in July and I will be moving to North Carolina where he is station on New River Marine Base. I just feel like if we rent a house we are throwing that money away as to if we buy a house it will be going towards something that is ours permanently. Please any advice would be much appreciated! Thanks, Victoria.

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19
Hi Victoria

Congratulations on your upcoming wedding! What an exciting time for you!

It's expected for agents to jump in and say "buy now "- prices and interest rates are low, so you should buy now !

That all may be true, but..........
You have a lot of life changes coming up in the near future - not only the wedding and becoming a wife, but the move to a new state, too.

Making a decision to buy a home is stressful, so.....as a mom (taking my Realtor cap off for the moment), I would suggest that it might not be a bad idea to rent for the time being - maybe even a shorter term rental if that's possible........make sure you're happy in the area.... and get a feel for the various neighborhoods around you.

Buying a home is a big deal, and you need to have confidence in the choice you make.
There are a lot of decisions to make........ do you want to live in a single family home? a multi-level townhome? a single level apartment style condo?

Personally, I don't consider renting to be "throwing your money away" as it puts a roof over your head and gives you a place to call home..........making a more permanent decision to buy a home might be something you want to wait for a bit to make sure it's the right time and decision for you and your soon-to-be husband!

Hope this helps and I haven't confused you further!!

Best wishes
1 vote Thank Flag Link Thu Apr 4, 2013
As I said previously, there is no cut and dry answer. We would need to look at your particular situation to determine if buying or renting is the smart way to go.
0 votes Thank Flag Link Mon Jul 8, 2013
Victoria, I would agree with oldblu68 that buying is not a smart thing to do for a Marine family that is on their first enlistment, but if you know you are going to be in the Marines long term then buying makes more sense. Either way, I will be glad to help you rent or buy a home. Walter
0 votes Thank Flag Link Mon Jul 8, 2013
If you are military, DO NOT BUY!! You are better off in base housing. Homes are not selling & you will be stuck
0 votes Thank Flag Link Sun Jul 7, 2013
Victoria,

Not sure what your decision has been on whether to rent or buy, but I'll give you my opinion from a recently retired Marine, Entrepreneur and business owner. DO NOT buy! When your 2-3 yr tour is over you will be moving to another area or maybe he gets out and you go back to hometown USA. If you purchase you will leave Jacksonville either has a landlord and needing to rent out your house or you will have your house on the market for several months. First, everyone that answered your question is a realtor and of course encouraged you to buy, they get a nice commission check. Second, none of them talked about the decision you'll be facing in 2-3 years and what will the market be like. Today, "used" houses are on the market for well over 6 months average. Can you make an a mortgage payment on a house that you will not be living in. Rent, you call the property mgt company when the plumbing/ hvac, etc doesn't work and when you leave you don't have the worries of if you will be able to sell or rent out your house. The low interest rates and money they say you save is not worth it. Also, property insurance is going up 18% in July. That's home ownership..
0 votes Thank Flag Link Tue May 28, 2013
I would definately recommend purchasing a home for 2 reasons: interest rates are at an all time low of 3.5% and housing prices are very reasonable in Jacksonville. Also, it is currently a buyers market and most sellers are paying the buyers closing costs and providing a home warrenty! Last but definately not least, you can obtain a 100% financing loan using your husbands VA loan. Thanks for emailing and please let me know if you have any additional questions!
0 votes Thank Flag Link Tue May 7, 2013
You as you know are about to make one the biggest decissions of your life. The firsthing to to decide is how long you are going to live in the area. If it going to be 2 years or more. Then you need to buy. Next find a mortgage person and find out what you can buy. Next decide if you if you want to go as high as the lender says you can buy.

Advantange of buying is your interest of your mortgage is tax deductiable on both you state and federal taxes. Your property tax is deductiable off your federal taxes and off of your state taxes if, North Carolina is not your primary residence.

Congadulations on your up coming wedding. I have been married for 45 years. I know God will bless both you during this time. I hope to hear from you soon.

BILL KAYS
Century 21 American Properties South
910-459-9462
whkays@yahoo.com
0 votes Thank Flag Link Tue May 7, 2013
Victoria,

Wow, lots of answers and lots of questions. Congratulations on your upcoming marriage to a man who is doing a great service to the country. We appreciate his commitment and yours as well, because a Marine wife is a lot of work. There are many good points to buying a house, especially now when rates are so low, the options are significant, and the financing is really easy. My recommendation is: contact a lender, and find out if you are able to buy...I can give you names/numbers of several good ones... If they say yes....then by all means do it...it's not going to be your last house, just the next one. If they say not yet, then you can rent until you fix your credit. Then you can buy and create the tax savings, the equity build up and the home-ownership experience that will grow with you for the rest of your life. If I said anything you like, give me a call, and I will start working for your interests here in Jacksonville. I hope to hear from you soon.
Eric Bomhard
Century 21 American Properties South ( across the highway from New River Air Station)
910-322-0195 cell
910-577-5557 office
0 votes Thank Flag Link Mon Apr 8, 2013
Hi Victoria, Thanks for emailing. I would definately recommend purchasing a home near the base for several reasons: Interest rates are at an all time low and housing prices are very reasonable here in Jacksonville. You can usually pay less per month with a mortgage than with a similar rental property. Please let me know when you will be in Jacksonville so we can get together and discuss it further. Thanks!
0 votes Thank Flag Link Fri Apr 5, 2013
Congrats on your upcoming wedding!! That's so exciting!! My husband and I were in the same predicament 8 years ago, so I understand what you're going through! We're a marine corps family and my husband is stationed at new river too! I'd love to go over the pros and cons of bother renting and buying and show you the difference between the two and then y'all could decide from there :) feel free to call or text me and ill send you some homes to look through then we could go see your favorite ones when it's time. My cell is 9105818987! Can't wait to talk with you!

Emily Tesh
Broker Associate
Century 21 Champion
Jacksonville, NC
0 votes Thank Flag Link Fri Apr 5, 2013
Hi Victoria!! So many big changes coming your way! Welcome to the Jacksonville area. I was stationed here in 2006 and got out of the military and into real estate! I can completely understand your stress right now with moving, starting over in a new town, and trying to make the best financial decisions- I mean lets face it, there's not a lot of money to be made in the military! LOL
So it's very smart of you to try to leverage your money into investing in home ownership versus renting. I would be more than happy to email you listings of homes for rent, as well as homes for sale that are comparable. And if your fiancée has time this weekend to look, we can go peek at a few homes you both might like!
Give me a call so we can discuss your options, either way, I'd LOVE to help!! Congrats on your engagement and welcome to the military lifestyle!
Amanda Parmer
HomeTeam Real Estate
910.545.0450
Ajparmer09@gmail.com
0 votes Thank Flag Link Fri Apr 5, 2013
Firstly, congratulations on the engagement!!! very exiting tjme!!!!

I guess ill be just like all the other agents and throw my name in the hat...lol!!! I agree with what very one ha already stated except no one spoke about what's good for you! I think the best advise is to look at both sides! Lay out all the facts and figures from renting vs. buying then make your educated decision! I would be happy to meet with you and show you a few rentals an a few homes for sale. Then we can sit down and do a net sheet; breaking down the figures from renting and buying. Than you at least have all the information before you choose one way or another. Please give me a call so we can discuss further. Not a bad idea to at least speak with a few agents before making a decision one way or the next. Regardless of what you decide, Good Luck! But I will be looking forward to your phone call. Thank you and speak with you soon!

Katie Jones. 910.650.9598
Keller Williams Realty
http://www.KatirJonesHomes.com
0 votes Thank Flag Link Thu Apr 4, 2013
Victoria you are correct and the other agents from other states are wrong. You do not need a down payment if you are military you can buy with NO Money (except a small deposit), deposit needed to
take the home off the market here is about $100 (for new construction or $500 for a bank foreclosures), most of my clients get their deposit back at closing because the seller pays for the
buyers closing cost. You also skip your first months payment when you buy. I am certified in
bank foreclosures and many of my clients have made a profit on the homes they have bought
from me in 3 to 6 months, some of made $30,000 in less than 1 year. I had a client today
that was renting for $950 and bought the same size home and his payment is $733 (including
taxes and insurance). Email or call me and I can email you a list of bank foreclosure or
other homes. Even people that are not military can buy a home here with NO MONEY DOWN
with a USDA loan from the government to buy a home in the country.
Regards, Denise Phillips, Century 21 American Prop. at chaun128 at
yahoo. 860 917 0778 phone in Jacksonville, NC
0 votes Thank Flag Link Thu Apr 4, 2013
How long will he be stationed here? Call me and let's look at your particular situation. There is no cut and dry answer.

John Smith
C21 American Properties
910-358-2498
0 votes Thank Flag Link Thu Apr 4, 2013
Be glad to go over your situation, there are a number of questions you need to consider before answering the question about buying or renting:
1) how long are you going to be in the area
2) are you military? If not, you may need a down payment
3) Are you married? Any children? What size house?
4) Any pets? Restricted breeds? Harder to rent with certain breeds

Give me a call or email to go over your needs.
Walter Whitehurst
910-340-5524
Walter.whitehurst@gmail.com
0 votes Thank Flag Link Thu Apr 4, 2013
Victoria, it is a great time to buy, rates are low and there are many homes to choose from. As long as you expect to be here for 3 years or more. It's really up to you and your fiancé if buying a home is right for you. I would be glad to help you weigh the pros and cons of buying vs. renting if you like. Please contact me if I can help. Have a great rest of your week!
0 votes Thank Flag Link Thu Apr 4, 2013
It is a great time to buy, interest rates are low and you would be building something for your future. We have many homes and townhomes available in every price range. But there are a lot of questions to ask yourself as well--what do you want a home to do for your life, do you want a big or small yard. And most importantly, no matter how much you qualify for to spend on a mortgage or rent, how much do you two want to spend on housing each month. What will be comfortable and still allow you to live the life you want to live.
0 votes Thank Flag Link Thu Apr 4, 2013
Now is a great time to buy rather than rent. You will need a down payment but your monthly rent very likely could be less or equal to what you pay in rent. When you own a home there are tax benefits, the ability to grow equity and you are able to make any changes you wish. Sources believe that in many markets prices will rise in 2013 as well as interest rates. With an increase in both, you have less buying power. There are great programs such as an FHA loan that allows less of a down payment and often the seller will help with closing costs. If I can help you with any more questions, feel free to contact me directly.
0 votes Thank Flag Link Thu Apr 4, 2013
Victoria, I have been a Realtor in the area an would love to go over the numbers,pros, and cons with you. I also live on the Airstation side of town! Please call or text me at 910-934-2280
Christine Arnold
REMAX Home Connections
0 votes Thank Flag Link Thu Apr 4, 2013
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