Military Relocation – Thinking Long Term – Planning for Retirement Near a Military Base
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Thinking Long Term – Planning for Retirement Near a Military Base

Takeaways

  • If you find your "home," buy it and keep the property for retirement.
  • Retiring close to a base offers many benefits to veterans.
  • After you are transferred before your retirement the home becomes an investment home generating rental income for you.

Did you know?

  • By the time you retire your mortgage may be significantly, or completely, paid off.
Buy for retirement when you find your home. If your military relocation takes you to a new location that becomes “home” in your heart, you may want to think about purchasing property there for the long term.

Owning a home is a way to put down roots for retirement. Although subsequent Permanent Change of Station (PCS) assignments may take you far away, you know you have a home to return to when the time comes to leave active duty.

Retiring to a community where a military base is close by has many benefits, a key one of which is easy access to base facilities and resources. You’ll be able to:

  • Buy your grocery at commissary prices.
  • Shop the Exchange.
  • Access to military medical facilities.
  • Usually gain entry to on post clubs, MWR facilities, and more.
  • You continue to enjoy the camaraderie and support of the military community.

If you do buy a home and must leave for a new PCS, renting your home allows you to retain ownership and take advantage of rental benefits:

  • Rental income helps cover the expenses of maintaining your home.
  • Rental property offers tax deductions. (Consult a tax professional for tax advice on the advantages/drawbacks of owning rental property.)
  • In most military areas, it's relatively easy to find property management agencies that can handle the logistics of finding renters, rental contracts and home maintenance issues.
  • During those years you are away on future assignments, your mortgage balance is dropping and equity is building.
  • You will build home equity that can be tapped for college expenses or updating and renovating your home.

Best of all, when the big day comes one of the primary return on your real estate investment may be paid off mortgage…and the extra money and time you need to enjoy leisurely days on the golf course or other favorite recreational activities.

Learn More About Military Relocation and Real Estate

To learn more, explore the advice on Military Relocation in this section of our site and in our general advice on Buying a Home. You can also talk with a GMAC Real Estate Agent near your new Duty Station for professional and experienced advice about homes in nearby communities.