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Updated almost 4 years ago,

User Stats

13
Posts
5
Votes
Tyler McGill
  • Chesapeake, VA
5
Votes |
13
Posts

Annapolis - USNA grad buy or rent?

Tyler McGill
  • Chesapeake, VA
Posted

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

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