As we usher in a new year, it’s the perfect time to set your sights on your home goals for 2024. Whether you’re a first-time buyer, a seasoned homeowner, or a military family facing a Permanent Change of Station (PCS), careful planning can make a significant difference in achieving your objectives. Read on for some actionable steps to ensure a successful year ahead.
For Buyers
Define Your Priorities
Begin by outlining your must-haves and nice-to-haves. Are you looking for a larger space, a better school district, or proximity to base? Understanding your priorities will streamline the home search process and help you find a property that aligns with your lifestyle.
Get Pre-Approved
Obtaining pre-approval for a mortgage is a crucial step. It not only provides you with a clear budget but also enhances your credibility as a serious buyer. Taking a serious look at your numbers allows you to address any issues with your credit report or bulk up your downpayment. With military families, especially those facing a PCS, having pre-approval in hand can expedite the home-buying process.
Consider Future PCS Possibilities
If you’re part of a military family, think about the potential for relocation. Opt for a property with resale value and consider the rental market in the area. This strategic approach ensures that your home remains an asset, whether you decide to sell or rent it out in the future.
For Sellers
Assess Market Conditions
Stay informed about the current real estate market trends in your area. Understand whether it’s a buyer’s or seller’s market. For military families anticipating a PCS, timing can be crucial. Aim to list your property when the market is favorable for sellers.
Enhance Curb Appeal
First impressions matter. Boost your home’s curb appeal by maintaining the exterior, trimming the lawn, and adding a fresh coat of paint if necessary. A well-presented property not only attracts potential buyers but also increases its perceived value.
Work with a Military-Friendly Real Estate Agent
Military families have unique needs, and working with a real estate agent experienced in dealing with PCS situations can be invaluable. Look for someone who understands the specific challenges and timelines associated with military relocations.
For Military Families
Explore Local Amenities
Whether you’re staying put or facing a PCS, familiarize yourself with the local amenities. Research schools, healthcare facilities, and recreational opportunities in the area. This information can influence your decision to buy or sell and contribute to a smoother transition.
Plan for Contingencies
Military life is unpredictable, and plans can change. Factor in contingencies when setting your home goals. If you’re selling, be prepared for the possibility of a quick turnaround. If you’re buying, consider the flexibility of your chosen property in case of unexpected relocations.
Leverage Military Benefits
Take advantage of the various benefits available to military families. VA loans, for example, offer favorable terms for homebuyers. Understanding and utilizing these benefits can significantly impact your financial strategy and make homeownership more accessible.