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I recently bought a house and I have thought about joining the Navy. But I want to keep the house because it's on my parents property. Will I be able to still keep that house if I ever get to travel?
I recently bought a house and I have thought about joining the Navy. But I want to keep the house because it's on my parents property. Will I be able to still keep that house if I ever get to travel?
The Navy will give you training and a salary. You would be stationed where *they* need you to be. The fact that you own a house doesn't factor into it-if you want to keep it, you would have to continue making mortgage payments even though you're not in it out of your pay. There are no special programs to help you 'keep' a house in the situation you are describing.
Some service members like to buy a house (or occasionally houses) at particular duty stations and rent them out when they change duty stations to help defray the mortgage. You can do well at that, but it takes a particular mindset-not everyone is cut out to be a long-distance landlord.
GeorgiaTransplant is spot on. What you do with the salary you earn is up to you. It sounds as if your best option is to rent your place while you're (potentially) in the Navy.
Now in the military we do receive a housing allowance. However, that is for housing at your duty location. For example, you can't live in the barracks (what we call them in the Army) and draw a housing allowance simply because you own property elsewhere.
I have been a long distance landlord. I've never had a problem but I credit that to ensuring my home was well cared for, selecting responsibile tenants, and having a plan in place to deal with any potential house issues (HVAC maintenance, etc). Another option, for piece of mind, is to have a property manager handle everything for you. Assuming you would be at sea, where you would be very difficult to reach, that might be your best course of action. Or you can give a trust worthy family member, or friend, a limited power of attorney to act on your behalf to handle any issues with your home.
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