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On Base Three Years |
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I have a Military Question.
I am moving to Ft Dix NJ, where I will be given the option of living in Privately run Housing on base (We will pay our $1900 per month in Housing Allowance to the United Communities LLC, the company running the housing)
The second option is to Buy a home on the economy off base, the caveat is that we will only be in place in this area for approx 3 years. Is it worth it to buy a home for this period of time in the hopes of selling for a profit in 3 years, or should we go with the Housing Contract and continue the rental life?
Thank you
Will |
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I am not familiar with the real estate market around Fort Dix. And there's no way I can predict the future value of real estate even in my own town. So I'm not going to be much help with you in this. You can always contact real estate brokers in that area -- it won't cost you anything to pick their brains and see what they say. Of course they're going to say it's worth buying, but at least you'll hear one side of the argument.
My instinct is the other side. If property values stay the same, you'd just about recoup your outlay in mortgage placement expenses and other expenses of buying, when you sold. If prices dropped, you'd have made a bad investment and you'd have a loss. You know your whole financial situation better than I do, so you're the ones who need to decide for yourselves how much investment risk you want to take. |
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Edith
Originally published on August 3, 2008 |
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