First time home buyer

[Sarah Wainscott]

Hello team,

My husband and I currently live in Kodiak, AK due to USCG orders. We currently live on base housing, but have been notified that we can be released if we chose to do so. When living on the economy we receive a housing allowance. Currently we feel that we are just throwing away this money instead of investing in property or even enjoying a better quality of life while we are here.

Homes here are expensive and so is rent. There are influxes yearly due to military transfers. We have found a panabode house right on the outskirts of town that with a little TLC could truly be beautiful and updated. This is a house that doesn't need a ton of work, but is a property we could pick at over the next 3 years. Once we are relocated in the summer of 18' we will need to either rent or sell.

At current tax, insurance and average rental rates we would be breaking even if we chose to rent after our 3 years. I do believe with our renovations we could make money once property is sold, but it wont be much. Real estate investing and fixing up homes is something we are both very interested in and hope to pick up once we arrive back in the lower 48. With all of that being said, is the experience, quality of life and property enjoyment worth buying this house and potentially breaking even?

I appreciate any guidance!

Thank you,

Sarah Wainscott