Veterans and the military community share in a rich history of homeownership.
Generation after generation has embraced a deep-rooted desire to secure a piece of the American Dream they fought to protect.
Owning a home can provide an unbeatable sense of security, comfort and financial stability. But no one can tell you that you’re ready to start this journey.
This is one of the biggest financial transactions you’ll ever make. The right time to begin is when you’re financially and emotionally prepared.
Part of the preparation is recognizing that owning a home can come with both benefits and challenges.
Let’s take a closer look at some of each.
Here’s a look at five big benefits of homeownership:
The VA loan program does a tremendous job helping ensure veterans can truly afford the homes they purchase. In fact, this no-down payment program has an exceptionally low foreclosure rate.
Still, there are no guarantees. Job loss, family changes and scores of other things can affect your financial health. The mortgage still needs to be paid.
Take a careful look at some of the potential challenges of buying a home before jumping into the process:
When it comes to buying a home, just be honest with yourself about the potential risks given your own personal and financial circumstances. If the future is a bit cloudy, now may not be the right time to pursue a home purchase.
The goal is sustainable, responsible homeownership. Few things are more rewarding.