Should You Rent or Sell Your House Before Deployment?

Deployment brings a unique set of challenges for military families, and one of the biggest decisions you’ll face is what to do with your home. Should you hang onto it by renting it out, or is selling the better option? There’s no one-size-fits-all answer, and the choice depends on various factors. Let’s explore both options and help you make the best decision for your family.

Renting your house:

  • Pros:
    • Maintain a foothold in your community: You have a guaranteed place to return to when your deployment ends, eliminating housing stress during reintegration.
    • Generate income: Rent payments can offset your mortgage and potentially provide additional income.
    • Build equity: You continue to build equity in your property, increasing its value over time.
    • Potential for tax benefits: Rental income and some expenses may be tax-deductible.
  • Cons:
    • Landlord responsibilities: Finding tenants, handling repairs, and managing the property requires time and effort.
    • Market fluctuations: Rental income might not be consistent, and unforeseen expenses could arise.
    • Potential tenant issues: Dealing with difficult tenants can be stressful and time-consuming.

Selling your house:

  • Pros:
    • Clean break: Eliminates financial ties to the property and potential landlord headaches.
    • Access to cash: You can use the proceeds from the sale for various purposes, like paying off debts, investing, or relocating.
    • Reduce financial burden: No more mortgage payments or property taxes while deployed.
  • Cons:
    • Market uncertainty: Depending on the market conditions, you might not get the desired price for your home.
    • Finding a new home upon return: You’ll need to find a new place to live after your deployment, which can be challenging depending on your location and housing availability.
    • Missing out on potential future appreciation: If the market improves, you could miss out on increased property value.

Making the decision:

When making this crucial decision, consider factors like:

  • Length of deployment: Is it a short-term deployment or a longer one?
  • Financial situation: Can you afford to maintain your house while deployed?
  • Market conditions: Is the real estate market hot or cold in your area?
  • Personal preferences: Do you prefer the stability of owning a home or the convenience of selling it?
  • Family needs: Will your family have access to adequate support if you’re not there while renting out the house?

Resources for military families:

  • Military OneSource: Provides comprehensive resources and support for military families, including relocation assistance and financial counseling.
  • Veterans United Home Loans: Offers specialized mortgage programs and benefits for veterans and active-duty military personnel.
  • National Foundation for Credit Counseling: Helps military families manage their finances and navigate financial challenges.

Remember, there’s no right or wrong answer. Carefully weigh the pros and cons of each option and seek professional advice from a trusted realtor or financial advisor familiar with military concerns. By making an informed decision, you can ensure your family’s financial stability and peace of mind during deployment and beyond.

Ready Front Real Estate, founded and owned by military veteran Raoul Rowe, is dedicated to helping military families with their real estate needs. They understand the unique challenges faced by military families and provide personalized assistance with buying, selling, or renting a home. Contact Ready Front Real Estate at (737) 276-1953 or visit their website for more information.

We hope this information helps you make the best decision for your family. Take care of yourselves and stay strong!

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Compare listings

Would love your thoughts, please comment.x
Pixel CTA