Military PCS Orders to Norfolk VA
My wife has orders to Norfolk and we plan to PCS next summer, so I'm getting a head start on reasearching the market. I'm looking for some advice on where to buy a home. Ideally, I'd like to buy a SFH or small multi unit with a VA loan where we can buy at a discount or force appreciation with some renovations while living there to gain equity quickly, then rent it out or sell when we move.
Any advice on some areas with a reasonable commute to the Naval Station, good schools and low crime? We have two young children with our oldest starting kindergarten there.
Thank you all for your help
Most Popular Reply
VA has a new loan program that gives you some rehab money on top of the purchase price. It's new as of this year, so not many lenders are aware of it. I wanted to force appreciate as well, but I got overruled by the boss who wanted turn key SFH. Rhett is right about VA Beach being great for schools. Chesapeake also has very highly rated schools. Norfolk is very spotty on crime rates - Ghent is upscale but surrounded by impoverishment, then the city goes into a pattern of good street, bad street, good street, bad street.. for about 20 blocks. Strangest thing I've ever seen. Flood zones are all over the place too, so be sure to check that.
TLDR - for a primary residence considering schools and crime, stick to Chesapeake or VAB or maybe Ghent.