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Updated almost 4 years ago,
Annapolis - USNA grad buy or rent?
Hello everyone,
I'm currently finishing up my last semester at the Naval Academy in Annapolis, MD and then getting married in early June. Once I graduate, there's a high chance I will be in the area until sometime in November.
I wanted to reach out to the community for some advice. Here is a little background on my situation.
I don't think financing would be a huge problem. I should qualify for the VA loan due to prior military service, and I believe that if my fiancee cosigns, the lender wouldn't be as concerned about lack of income history on my end (which will start after I graduate).
I will be transferring to the Hampton Roads area, where my fiancee already has a house. I am also fine with a live in rehab and I can handle low key renovations myself (flooring, painting, etc). I can also rent out extra rooms to friends until I leave. I would hire a PM for when I move.
My ultimate question is this: should I look into buying a house or just split rent with some friends for 6 months? Obviously renting is easier, but I want to start on my path to financial freedom early.
Thank you in advance!
-Tyler