Military FAQs

Why rent or buy a home off base, when there is on-base housing?

Why consider buying a home near base instead of renting?

What are the commute times to the military base?

Why live farther away from base?

 

ANSWERS

Why rent or buy a home off base, when there is on-base housing?

When you live on base, your full base allowance for housing (BAH) is sucked away by Uncle Sam as the cost of "renting" the on-base housing. Some military bases are reducing how much BAH is paid; check with base housing.  If you do your homework and find a home to rent or buy off base for a lower amount monthly than what Uncle Sam is charging you for housing, you get to pocket the difference each month instead of letting Uncle Sam keep it.  More about doing your homework: remember to find out what utilities, gas, and extras will cost you monthly so you are comfortable with your analysis of how much better, if any, it is to buy or rent off base.

Why consider buying a home near base instead of renting?

There are several factors to consider when trying to decide why to buy or rent.  We'll give you the usual ones here.  As always, please remember to do your own investigation regarding issues or factors that are important to you, whether renting or buying a home anywhere.

  • Reasons to Buy a Home

You may have heard of a Rent-Buy Calculator.  This is a software program that lets you input how much it would cost you to rent versus how much to buy a similar home as well as how long you plan to stay, and it spits out the answer as to whether you'd make or save more money by renting or buying.  Be careful: this does not consider the option of buying for your tour of duty while you're here, and then - instead of selling - going ahead and renting out the home after you PCS from here.

Imagine years 3 through 30 of the loan being paid by the tenant paying rental payments to you, with - at times - you having to throw a couple hundred or a few thousand dollars at repairs and maintenance.  Is it a pain?  Sometimes, though less if you use a property manager to handle the hassles.  But consider this: those rents will go to paying off the bulk of a couple-hundred thousand dollar investment that has your name as the owner.  Once you've retired, that cash flow from rents or the profit from the value of the home by that time in the market (less whatever is left as owing on the loan) is your profit for taking on some hassle.  Being a landlord isn't for everyone, but having a good property manager handle it can make it palatable.  And the payoff can be significant, again, thousands of dollars.

Buying a home is an investment, using your BAH to pay monthly into a savings vehicle; since your monthly payments go to pay off that loan, at some point when the loan is paid off, you are either saving yourself a housing payment, or you are renting the home out to someone else, whose rent payments to you are cash in your pocket.  Note that this strategy requires that you make sure the note gets paid down/off.  If you continually refinance the home and/or take cash out, it makes it less likely you'll achieve this goal.

Buying a home also gives you a place you own and can live in as you wish, rather than having to get your landlord's approval to change paint, carpet, landscaping, etc.  Beware, though, if you buy in a home in a homeowner's association ("HOA"), the HOA may be able to tell you what exterior things you can do to the home and how you have to keep up your yard, trashcans, etc.  On the other hand, if you like the whole neighborhood to be kept up by your neighbors, maybe you would prefer an HOA to be involved in making your neighbors take care of their yards. There is no one answer, other than the answer you prefer.

  • Reasons to Rent and Not to Buy a Home

If the rent would be a lot cheaper for you than the monthly cost to buy, then this is a consideration as to why to rent.  Again, factor in whether you want to take on an investment as described in the prior paragraph.  If the hassle in time and having to pay for repairs and maintenance are too much for you compared to the possible up-side of long-term return, buying is not for you.

Another reason to rent is if you do not qualify in terms of your credit score or your debt-to-income ratio.  Note that your credit score for purposes of buying a home is calculated by the credit bureaus differently than the credit score you'll see if you get a "free credit report."  The latter is a consumer credit score, not a home loan credit score. A "consumer credit" score is typically higher than a home loan credit score.

For answers to questions about whether you qualify in terms of your credit and debt to income ratio, feel free to contact Lisa, with no hassle and no obligation.

 

What are the commute times to the military base?

Here is a map for reference:

distance from neighborhoods to military bases camp pendleton mcagcc miramar

Oceanside

  • To Camp Pendleton: 10 to 20 minutes, depending on location on base.

Temecula

  • To Camp Pendleton: 20 minutes to the Weapons Gate in Fallbrook and then add minutes to get to your on-base destination.
  • To Miramar: 55 to 1:05 depending on location in Temecula.

Murrieta

  • To Camp Pendleton: 25 to 30 minutes to the Weapons Gate in Fallbrook and then add minutes to get to your on-base destination.
  • To Miramar: 1:05 to 1:15, depending on location in Murrieta.

Menifee

  • To Camp Pendleton: 30 to 35 minutes to the Weapons Gate in Fallbrook and then add minutes to get to your on-base destination.
  • To Miramar: 1:15 to 1:25, depending on location in Menifee.

Lake Elsinore

  • To Camp Pendleton: 35 to 45 minutes to the Weapons Gate in Fallbrook and then add minutes to get to your on-base destination.
  • To Miramar: 1:15 to 1:25, depending on location in Lake Elsinore.

Hemet

  • To Camp Pendleton: apx 55 minutes to the Weapons Gate in Fallbrook and then add minutes to get to your on-base destination.
  • To Miramar: 1:30, depending on location in Hemet.

Yucca Valley to Marine Corps Air Ground Combat Center front gate: approx 30 min.

Joshua Tree to MCAGCC: approx 20 min.

Twentynine Palms to MCAGCC: 5 to 10 minutes depending on location of home.

Why live farther away from base?

Several factors are mentioned by our clients as reasons to live farther than Oceanside for Camp Pendleton, or farther than San Diego for San Diego bases:

  • Cost: Whether renting or buying, the monthly cost tends to be higher for the same size home if it is closer to the bases of Camp Pendleton or Miramar (or similar San Diego bases).  Compare this to MCAGCC in 29 Palms: closer to base is farther east from Los Angeles, so it is less expensive in 29 Palms and more expensive in Yucca Valley (because it is closer to amenities such as Palm Springs); Yucca Valley is cheaper, too, than Palm Springs area homes.

 

  • Schools: Schools in Oceanside and San Diego as well as in the high desert (29 Palms, Yucca Valley) - anectdotally, per our clients - tend to be less consistent in academic and safety concerns.  Murrieta and Temecula schools seem to be more consistent and desirable.  Do your investigation in regards to the particular schools your child will attend.  Academic performance on standardized testing can be compared at www.greatschools.net.  Safety of the school is determined more by your visiting the area, talking to people, talking to authorities, etc.  Investigate before you buy or sign a lease.

 

  • Distance to other amenities: Being in Oceanside gets you very close to the beach; being in San Diego gets you close to the beach and also the "big city" type of amenities that are unique to a big city - professional sports teams, restaurants, museums, theaters, etc. However, cities farther out -- such as Temecula, Murrieta, Menifee, etc. -- have pretty easy access to all the "usual suspects" for shopping and restaurants, such as Best Buy, Costco, WalMart, Target, Super Walmart, Sam's Club, Super Target, BJs, PF Changs, Lazy Dog Cafe, Five Guys Burgers, and so on.  If one is really important to you *cough, Five Guys* do your homework and make sure you're close enough for your liking.

Still have questions?  Contact Frank directly at 951-326-7330, or Lisa at 951-704-4559, and we'd be happy to help.

Frank Delzompo Team
Broker-Owner 

Call or email now:
DIRECT: 951-326-7330
Email: Frank@Sand2Sea.us   

Zillow Ratings

"Sand to Sea Properties, Inc. provided stellar customer service from beginning to end. Throughout the entire process Frank and Lisa guided us and were always available to answer any question or concern, and were prepared for any curve ball throughout the home buying process. Their expertise in real  estate became such a comfort to know we were working with top notch individuals who were not just incredible at what they do, but also enjoyable to be around. We highly recommend Sand to Sea Properties for your home buying or rental needs."
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**Frank represents clients as a broker, and not as an attorney.  Do not rely on information on the internet solely; consult appropriate professionals for your particular financial and legal situation.  Information is pulled from many sources to serve you; it is deemed reliable and not guaranteed.