Military investor advice
Hoping to get some advice and feedback for my current situation.
Wife and I are both AD Military and about to buy our second home (upgrading) at our current duty station and on the fence if we should rent or sell our current home.
Current home is paid off so we don't need to sell or rent which is making the decision harder! Projected rent would be 1500-475(taxes/insurance) so about 1,000 net while we self manage. We would probably use this extra income to pay down the new mortgage or help offset expenses for both homes.
Or
Sell the current home (would easily sell for 50k more than we paid after closing fees) and roll all that money into the new homes mortgage.
We have about 10 years until retirement and will be at our current base for atleast 2 more years but plan on coming back to this new home upon retiring.
Obviously I know most here are investors and would prefer to leverage and buy as much as possible but I'm hoping to get some input and insight to any unique challenges we might face given our unique circumstances.
Thanks!