Over the years I’ve briefed many soldiers and their spouses about home ownership and how easy it is to owning your home while serving in the US Armed Forces. However it became a trend based on my observation that to every ten soldier and their spouses I’ve spoken with, there are three recurring excuses that comes up all the time.
One excuse that I’m told all the time is, “I’m not from this state and don’t plan on retiring here. Lets use Hawaii as an example state, a military family with one spouse on active duty and no kids gets approximately $3000 (BAH) Basic Allowance For Housing. Therefore if you multiply that by twelve months its a whooping $36,000 and then multiply that number by three years, its a crazy $108,000.
The second excuse I’m told is that “the Condos and Houses in Hawaii are to small and expensive for the asking price. Even though I totally agree with that excuse, real estate is all about location, location, location. However I think its wiser to own and put that $108, 000 into your own home, which is building up your family’s wealth over time.
Thirdly I’m told by soldiers and their spouses, “I don’t think we are ready to take on such a big responsibility”. Even though this may be a reasonable excuse, I beg to differ because soldiers on a daily bases are held accountable and responsible for equipment that far out value the cost of a house.
So to my fellow Soldiers, Spouses and Veterans you all have been in charge, responsible and accountable for far more expensive government hardwear, software and equipment. Therefore it is only wise to make owning a home part of your family’s inventory.