Home Buying in Dallas>Question Details

Bradford, Home Buyer in Lacey, WA

Rent or Buy North Dallas Area

Asked by Bradford, Lacey, WA Tue May 14, 2013

I am military moving to North Dallas/Richardson/Carrollton area for a 3-year assignment. Since I am only guaranteed to be in Dallas for 3-years, I am more interested in renting so I can save myself the hassle and risk of buying, however, I am considering all of my options.

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I would suggest the opposite of the comments below... Renting vs Buying is a very important question but with the VA opportunities available out there you may be in a strong position for 0 down and with re-assignment even relocation expenses when that time comes... I would suggest speaking to your unit liaison. If your looking for a broker that knows the needs of the military professional I would be more than happy to assist.
0 votes Thank Flag Link Wed May 22, 2013
Welcome to Dallas and thanks for your service.

I would probably suggest renting not buying.
It is tough to know what the market will hold.
It will cost you about 8% to sell, so the house has to go up that much to break even.
Prices are going up this year.....but the last 5 or 6 they didn't go up much.

Being in the military...to me nothing is guaranteed, so if you get a promotion or job opportunity, or they just say....well you're moving no matter what....then you are right, you don't want to be stuck with the house.

We can help you rent or buy...either way....whatever you decide to do.

Here are some samples to consider.
0 votes Thank Flag Link Fri May 17, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
Hello Bradford,

I am a retired US Army First who retired out of JBLM three years ago! I finished out as the Deputy Commandant at Henry H. Lind NCOA.

I see you are in Lacey and heading down here; please give me a call so that I can assist you and your family with your very important PCS move.



Providing Solutions Because...Your Move Matters!

Michael L. Brownstead, GRI, ABR
Keller Williams Realty
1002 Raintree Cir., Ste. 100
Allen, TX 75013
E-mail: MBrownstead@msn.com
Cell: 214-872-0400
0 votes Thank Flag Link Wed May 15, 2013
Welcome to Dallas!

My brother just got back from his second tour this morning! I think you should definitely consider buying. The upfront costs are very close to what you would need to rent a place anyway, and the monthly payments will almost certainly be cheaper than rent. If you make a smart purchase you will start out with equity in the property and wont have to worry about being upside down at the end of three years. If you haven't found a Realtor to assist you personally, feel free to contact me, it would be my pleasure to help you make your decision and provide you with all of your options.

Thank you for your service!

Monica Pineda - REALTOR®
VIP Realty | Real Estate Consultants
The Premier Firm in Real Estate
Direct: (469) 348-4113
0 votes Thank Flag Link Wed May 15, 2013
Bradford, Contact one of us Real Estate Professionals so we can help you understand all of your options. The ultimate decision of Renting vs Buying is yours to make.
Web Reference: http://thinkdallas.com
0 votes Thank Flag Link Wed May 15, 2013
0 votes Thank Flag Link Wed May 15, 2013
I strongly suggest you buy now instead of renting for the following reasons;
1) Mortgage rate is at historic low. Rates are from 3% ot 3.75% for 15 years and 30 years mortgage; If you tough out with a 15 years mortgage, you may get some equity when you sell you home 3 years later.
2) Home price is on the rebound. 3 years of appreciation may give you some capital gain which will be tax-free because the home is your primary residence.
3) You can get a VA loan with 0 down. You may think about the power of leverage - using little or none of your own money for your real estate invesstment; and
4) Stop paying increasing rent every year. As the market rebounds, home price increases; thus the rent.
Of course, the cost of buying is about 4% (mostly for closing costs) and selling is about 8% of the home price. I think home price will appreciate more than 12% in the next 3 years. Do a little research to educate yourself.
It's ny 2 cents worth. If you are interested in buying, please feel free to contact me.
Duong Nguyen
RE/MAX Associates of Dallas
0 votes Thank Flag Link Tue May 14, 2013
I'm a vet myself and began my career while on active duty. Fropm my experience, 3 year tours often do not create gains of enough to justify the future sale expenses, maintenance requirements, etc; I learned this the hard way twenty-five years ago, however there are deductions you can receive that may help balance.

Just crunch the numbers well before stepping off into a purchase while on active duty unless you're willing to become a landlord when you transfer to your next duty. Renting out properties when you transfer can help you build equity by having your renters pay off the note for you.

Call if I can help.

Greg Foster
The Michael Group, LLC
0 votes Thank Flag Link Tue May 14, 2013
Thank you for your service.

I would feel honored to represent you in your real estate lease or purchase.

Few particulars to consider.

Sell any property seller pays:
1 Realtors fees (listing and buyer)
2. Closing costs
Home would required to increase in costs to cover your expense. HOWEVER confer with your CPA for tax deductions .

Owning a home you receive annual tax deductions.

OR you can lease when you relocate not worry about selling a home. Currently homes sales for past 1 1/2 years in DFW are strong direct link

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook
0 votes Thank Flag Link Tue May 14, 2013
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