Homeownership is part of the American Dream. A home is an investment in the future, helping you escape the trap of endless rental payments that only benefit your landlord. It is also a chance to design your home to your exact preferences. A house is a place for your family to gather and strengthen your bonds. Finally, it is a way to invite other friends and family into your life.
Those who have served in the United States military often dream of buying a home once their service is complete. Sometimes, the path to owning a home feels complicated. But a home you can be proud of makes it easier to transition back into society.
Let’s discuss some steps to help military veterans become proud homeowners in the United States.
Choose a Location
The United States is a diverse country with 50 states. Each offers a unique culture, lifestyle, housing market, and landscape. Your first goal is to choose a place to live so you can start your home search. Some states are more expensive than others, but fortunately, there are specific loans for veterans so you can afford homes in hotter markets like Oregon, Washington, California, Massachusetts, New Jersey, and Utah. If the cost of living is essential to you, then states like Arkansas, Mississippi, and the Dakotas are much more affordable. Once you decide on a state to live in, you can move on to the next step.
Find a Lending Solution
One of the major perks of being a military veteran is having access to VA loans. The Department of Veterans Affairs backs these mortgage products so lenders can lower their standards for loan approval. For example, VA loans typically have no down payment requirement, no mortgage insurance premiums, more competitive interest rates, and no maximum loan amounts. You could use a VA loan to purchase a home already built or a house and land package with the right lender. There are also conventional loans and jumbo loans if you do not qualify for a VA loan.
Pick a Real Estate Agent
Real estate agents are local professionals who understand the housing market trends. They help buyers and sellers navigate these transactions for a commission fee, which the seller often pays. An agent will help you find properties before they are listed publicly, set up home viewings, and recommend services like professional home inspectors. They will also take you on a home tour, highlighting the features you want in your next house. They will help you negotiate the price with the seller’s agent if you make an offer. It is possible to purchase a home without an agent, but it is far more complicated.
Make Your Offer
Once you find a home you like, it is time to make an initial offer. Depending on the market, you could enter a bidding war with other buyers or negotiate with the seller until a price is agreed on. If you want to be prepared to make quick offers, applying for pre-qualification with your lender may give you a leg up on other buyers. Work with your agent to negotiate with the seller and settle on a final price that fits your budget. Then, you can finalize your loan once the agreement is reached.
Move Into Your New Home and Decorate
Now that the home is yours, you must figure out moving logistics. If health is an issue because of your service record or age, paying for moving services can save you a lot of time and physical labor. As a veteran, you can also decorate your home to reflect your story. You can creatively display flags in your house to honor the country you swore to serve. If you have any awards or medals for your service, you can set up a display case for them. Recognizing your military service through decor can give you a sense of pride in your new home.
Invest in Home Upgrades
Investing in improvement projects is another way to take pride in your new home. These upgrades can improve the look and functionality of the space. They also increase the value of the home, which will benefit you if you take out home equity loans or sell the house in the future. Some projects that have significant returns include bathroom renovations, kitchen remodels, landscaping, outdoor living spaces, and master bedroom improvements.
Find a Home You Can Be Proud Of
Once you become a homeowner, you will quickly learn what caring for a house means. It starts with finding the right home in a place you love and at an affordable price. After move-in day, you can decorate and make upgrades that reflect your priorities as a US military veteran. Following these steps will help you become a proud homeowner.
