Is a Permanent Change of Station to San Diego in your future? Take a moment to evaluate your goals and future, and learn how to turn your BAH into $300,000 or more with your VA Loan Benefit.
Receiving orders for the next Permanent Change of Station is both stressful and exciting for families and service members. It is a time of new beginnings, new scenery and new friends. It is also an ending of a chapter and many goodbyes. Taking time during this transition to evaluate immediate and long-term goals can change the course of the future and aid in building long term financial freedom and opportunity.
Take a moment and think about your career plans. Are you looking to retire or transition out of military service in the near future? How long will you be spending at your new home port? Are you entering shore duty or will you be deployed? Are you a single service member, a family with young children or entering the final leg towards retirement?
Reviewing these factors will help as we navigate the next steps towards outlining your goals. Have you set up contributions to your TSP? Have you met with a financial counselor in your command? Have you ever explored your VA Loan benefits? This may be a time to work towards your college education or purchase a home for future investment income to boost your retirement income.
One of the greatest pieces of leverage is time. Time on any investment, be it education or financial, will provide a return that will allow for freedom of choice in your future. By leveraging your tax free BAH and the 100% financing of a VA loan, you can use your next PCS as an opportunity to purchase a property, with little to no money down. Think of it this way, the San Diego BAH for an E-6 with dependents is $3,114 per month. At an interest rate of 3%, including the VA funding fee of 2.3%, property taxes and insurance, the purchasing power of this Veteran stationed in San Diego would equate to a single-family home purchase price of $575,000. The three years this Veteran is stationed here, the BAH would go towards home ownership and build his or her family’s wealth, instead of the wealth of a landlord. Upon the next PCS, the home could then be sold or rented as an investment, allowing the military member to continue to build wealth through appreciation of the property and potentially increase their family’s monthly income as the property cash flows.
When leveraging a real estate investment with the VA loan and combining the service member’s TSP benefits, our military can truly create a path to financial freedom allowing for opportunity upon transition to civilian life and stability.
If your next orders are to one of the many military stations here in San Diego, you are in for a treat. Not only does San Diego have amazing wealther, our city offers a wide variety of housing opportunities, from condominiums to townhomes to single family options. There is something for everyone, from the beach scene, to hiking trails, shopping and museums including the world-famous San Diego Zoo, there is always something to explore. The school system provides a variety of options including charter schools, dual immersion programs, and STEM magnet schools (check out Greatschools.org for more information on schools).
Wondering how you can live the Sunny San Diego lifestyle? Life near the beach, along the coast from Imperial Beach, to Point Loma and North up to Oceanside (convenient if stationed at Camp Pendleton) offers a variety of housing options. With a network of freeways heading east/west (the 8 and 94 Freeways) and north/south (the 5 and 15 Freeways), San Diego offers an assortment of housing for all lifestyles and family dynamics.
Active duty and Veteran service members of our armed forces; Navy, Marines, Army, Air Force and Coast Guard, typically meet the eligibility requirement for the VA Loan Benefits to purchase a home. Many service members are provided with misinformation about the VA Loan and home ownership. Legacy Realty Network specializes in educating how to leverage your basic housing allowance into home ownership. Not only can you be a homeowner, but you can set yourself up to earn passive income- money you don’t have to do anything for! As certified Military Relocation Professionals and having PCS’d six times in ten years, we understand the uncertainty that sometimes accompanies a move. Our team will be your advocate and boots on the ground as you navigate a San Diego PCS. We have used the VA Loan personally and understand the ins and outs of how the VA Loan works. We have helped many service members purchase homes before they have executed their San Diego PCS. Increasing use of technology has allowed us to search, locate, conduct inspections and close on properties— virtually!
Contact us for a personalized consultation and review of the simple VA Lending process and San Diego housing options. Know that you have served our country and earned this benefit, and our team is here to serve you! Schedule today by calling or texting (619) 814-7505 or online at www.Legacyrealtynetwork.com.