A permanent change of station in the military, known as PCS, isn't really all that permanent. A typical new duty assignment within CONUS (continental United States) lasts at least 36 months. Remote assignments are overseas assignments that are typically only 12 months, particularly an assignment in Korea. Families do not accompany their soldiers to remote assignments.
Typically, soldiers heading to a remote assignment are also given a follow-up assignment of 36 months in CONUS. If you are a member of the U.S. Armed Forces, have a family, and have been given orders to a remote location with a follow-up assignment, now is a good time to buy a home. Here's what you need to know.
The Benefits of Residing In One Home for Four Years
Soldiers can choose to locate their families anywhere in the United States during their remote assignment. While some families return to their home of record, some move on to the follow-up station while their soldiers head off to the remote assignment. A follow-on assignment is a chance to settle down in a home for at least four years.
Having your family lives in one home for at least four years can be beneficial in several ways. Your spouse will be able to find a job and, as long as things go well with the job, remain employed for a longer time. Your children will be able to attend the same school district, so you won't have to be concerned about significant changes in the curriculum over the four years as you would if your family moved sooner. You'll be able to build your credit rating and build equity in the home.
You May Qualify for a VA Loan
As a current member of the United States Armed Forces, you are eligible to apply for a VA loan, as long as you have at least 90 days in service during wartime, which currently began in 1990 with no end date set by the government. With a VA loan, you won't need to have a down payment to buy a home. However, there are other eligibility requirements to get a VA loan, including your credit rating and your debt-to-income ratio.
Speak with a military relocation specialist in the real estate field for more information regarding the process of obtaining a VA loan. Choose one who is located in the follow-up assignment area where you are interested in purchasing a home for your family.Share