THE RED FLAGS VETERANS & MILITARY HOMEBUYERS SHOULD BE AWARE OF WHEN BUYING A HOME
Jenny Gonzalez Every new homebuyer is usually excited by their breakthrough. Home buying is an exciting yet emotional milestone. This has proved to be accurate, especially for the first-time veteran homebuyers, who have spent most of their time on tour and are looking forward to a place to settle down finally. A place they call their own, a home.
H
omebuying no matter how exciting, it is an overwhelming process, but with the internet, every resource you need to make your home buying success is readily available to you. This makes the process a lot simpler and more affordable for the people who have served in the military. If you are a veteran or an active military member and you are in the quest for a new home, it is important that you know these red flags and try to avoid them as much as possible.
1. Too many houses
Well, there is nothing wrong with having houses on the market; after all, the lesser the bidding wars, the lower the competition hence lower prices, and there is nothing wrong with two-three open houses on the streets. However, there is a problem when you see an army of ‘for sale’ signs on the same streets. Consider looking for your dream house elsewhere. “This points to illiquidity in the market and pricing pressure, which is a risk for buyers,” says Alison Bernstein, the founder of Suburban Jungle, which helps families find their ideal suburb. However, it is good to point out that there are varied reasons for the ‘for sale’ signs, and one of them may be that the neighborhood is rapidly facing gentrification where the longterm residents may have decided to chip in. Alternatively, there may be older residents who
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THE POWER IS NOW MAGAZINE | JULY 2020
