Navigating Your Military Relocation to Billings, MT: Part 1 of 3 – The First Steps To Take To Ensure a Smooth Process From The Very Beginning
Billings, MT is becoming quite the destination for job relocation, between the healthcare industry, the energy sector, education positions at the local colleges, and now the introduction of the new National Guard training facility.
With this addition, there will be new military and civilian defense jobs, along with related administrative and support roles, all of which will inevitably bring relocations to the area.
As a real estate agent in Billings, it’s one of my top priorities to stay in the know of what’s happening in the local community so that I can better serve the clients that come my way.
In the past, you’ve heard me talk about general relocations, but with the military lifestyle being so demanding and everchanging, I’m fully aware that a relocation due to military orders can be much different than your average move.
It’s for that reason that I sought after the specific education and resources so that I could more effectively and accurately help those who are relocating to Billings with this National Guard addition.
My goal with every real estate client I work with – regardless of your situation – is to make the process as stress free and smooth sailing as possible!
And although I’ve never experienced it firsthand myself, I can imagine that being given relocation orders as a military family is pretty stressful in and of itself because things tend to happen so quickly.
For some, it’s only a matter of weeks that you’re being told where to move and then it’s up to you to figure out where exactly you’re going to live in that new town.
Are you going to live on base or off base? If you’re living off base, what neighborhoods are best? What about schooling for your kids?
SO many thoughts to work through and decisions to make and trying to figure out how to navigate the whole situation alone shouldn’t be one of them.
Which is why in this 3 part blog series I’m covering the ins and outs of Navigating Your Military Relocation to Billings, MT, starting with the FIRST steps to take to ensure a smooth process from the very beginning!
Three Housing Options for Military Relocations
When it comes to housing in the military, you really have three options:
Live on base (if it’s available)
Rent
Buy
Now, everyone’s personal situation is going to be different, so there isn’t a one size fits all answer for which is best. They all have their pros and cons, so to help you gain a better understanding of which one is right for you, keep reading.
On base housing often feels super attractive to military families because it can sometimes feel like the “easy” option. On-base housing typically covers rent and utilities, allowing you to save money or allocate it to other expenses.
It can also mean shorter commutes, access to facilities like gyms, grocery stores, and other lifestyle needs, close proximity to fellow military families, and 24/7 security.
And while all of those things can be great, there’s also some downsides. On base military housing often has very long waitlists, the homes are very cookie cutter and can’t really be customized, AND the biggest drawback is that you aren’t gaining any equity while living there.
With the Billings National Guard training facility, on base housing is not going to be available (at least at first!), which means that the only options are rent or buy.
Similar to on base housing, renting can often feel like the “easier” decision especially when you’re having to move quickly. It can feel like renting is the fastest way to get to your new town, get settled into an apartment or home that you at least got to pick out yourself, and still take advantage of your BAH (Basic Allowance for Housing) that the military offers.
But just like with on base housing, there are of course drawbacks with renting. Though you do get a housing allowance, it’s typically not enough to cover all of your utilities, which means you’ll still be out of pocket for certain things, while also still not building your equity.
With renting, you’re essentially paying someone else’s mortgage. And while there is 100% a time and place for renting, if you know that you’re going to be in a place for a long period of time (greater than a year), you’re going to be better off BUYING!
And I know what you might be thinning… “Of course you’d say that, you’re a realtor!”
Sure, I might be a tinnnnyyyyy bit biased to buying, but I would also never advise you to do something that I wouldn’t do myself.
Choosing to buy a home during your military relocation allows you to:
✔️take advantage of your BAH
✔️ use a $0 down VA loan benefit
✔️ choose your home in a neighborhood or community that’s perfect for YOU
✔️ sometimes actually save money
✔️ AND build equity along the way
Even with those benefits, however, most people who are relocating for the military have a few common hesitations about buying, so let’s address those real quick.
Common Hesitations For Buying a Home During a Military Relocation
“The market is too competitive.”
While the real estate market can definitely be competitive, working with a local, experienced real estate agent who understands military relocations can help you navigate bidding wars and find homes that fit your needs. We’re going to talk more about working with a local agent in just a minute!
“Sellers don’t accept VA loans.”
This is actually a MYTH! The truth is that VA loans often close just as smoothly as conventional loans, but the process really comes down to the real estate agent and lender that you choose to work with.
Your real estate agent and lender can work together to educate sellers on the strength and reliability of VA financing, increasing the likelihood of acceptance.
“What if we have to move unexpectedly?”
This is a super valid concern because military life comes with the possibility of sudden relocations, but I’m here to say that buying a home doesn’t have to be a risk. With the option to rent out your property or use military-specific programs to assist with selling, you have flexibility and protection against sudden moves.
“We won’t be living there long enough to build equity.”
Did you know that if you occupy your home for at least 12 months, then you can then keep it as a rental and THEN use a VA loan again? This means that even if your stay is short, purchasing a home can still be a smart investment!
“I don’t have enough money saved to cover closing costs.”
Like any home purchase, it is important that you have some savings to put toward closing costs, but as a VA buyer, you have special benefits that can help you reduce the amount you have to pay up front, including:
➡️ Limited Fees – VA loans restrict certain fees that lenders can charge, helping to reduce overall closing costs
➡️ No Private Mortgage Insurance (PMI) – Unlike conventional loans, VA loans do not require PMI, which can save buyers a significant amount of money over time
➡️ Seller Contributions – Sellers can pay up to 4% of the loan amount toward the buyer’s closing costs and other expenses, potentially covering a large portion of these costs
➡️ VA Loan Funding Fee Waiver – while VA loans have a funding fee, this can be financed into the loan amount, and certain veterans, such as those with a Purple Heart or those who have greater than 10% disability, are exempt from paying it altogether
The Role of Your Real Estate Agent During Your Military Relocation
Now that you understand your three different options and the advantages to buying, let’s talk about one of the first steps to take when you know you’ll be relocating for military purposes AND you know that you want to buy a home off base.
The first thing you’ll want to do is get connected with a local, trusted agent who is very well versed in the area you’re moving to so that you can find a neighborhood or community that best aligns with your lifestyle and needs, ensuring a smoother transition for you and your family.
What To Look For When Choosing a Real Estate Agent For Your Military Move
In addition to choosing someone with a lot of local expertise, it’s also important to look for an agent that has:
Experience with VA Loans – an agent well-versed in VA loans can help you navigate the unique aspects of the loan process, ensuring you maximize your benefits
Local Lender Connections – we’re going to talk more about this one in a second, but working with a lender who is also well-versed in VA loans is going to be SO beneficial for you and it’s important that you work with someone on the local level versus national level and oftentimes your real estate agent can help connect you find the perfect fit
Strong Communication Skills – I don’t have to be the one to tell you that the world of the military can be a little confusing, so it’s important that you find a local agent who isn’t afraid to ask questions about things they may not understand, in addition to making sure YOU understand the different parts of the real estate buying process.
Adaptable and Flexible – and maybe most importantly, one of the best things that you can do is work with an agent who is happy to roll with the punches and potential last minute changes. Military moves can be quick and unexpected, so it’s incredibly important that your agent is adaptable and flexible and works with you the best way they can so that you get the best outcome.
Questions to Ask Your Potential Realtor
Regarding General Experience and Expertise:
How long have you been a realtor and how long have you served [INSERT AREA]?
Can you provide examples of recent successful transactions similar to what I'm looking for?
Regarding Military and VA Experience:
How much experience do you have with military relocations?
Are you familiar with the VA loan process and its specific requirements?
Can you provide references from other military families you’ve worked with?
Do you have connections with local lenders to help us with the financial side of things?
Regarding Communication and Availability:
How do you communicate with your clients (phone, email, text, in-person)?
What is your typical response time to client inquiries?
Are you available to show properties and attend meetings during evenings and weekends? (This is SUPER important to understand, especially if you have a work schedule that doesn’t allow for much flexibility!)
Regarding Market Knowledge:
What are the current market conditions in the area I'm interested in?
Can you provide insights into trends and forecasts for the local real estate market?
How familiar are you with the neighborhoods I'm considering?
Regarding Negotiation Strategy:
How do you approach negotiations to ensure the best deal for your clients?
Can you share examples of successful negotiation experiences?
How do you handle multiple offers for your clients?
Regarding Referrals and References:
Can you provide references from past clients who were in a similar situation to mine?
Do you have any professional referrals, such as mortgage brokers or home inspectors, you recommend?
Regarding Fees and Costs:
What is your commission structure, and how do your fees work?
Are there any additional costs or expenses I should be aware of when working with you?
Regarding Team or Support:
Do you work as part of a real estate team, and if so, who will be my primary point of contact?
How do you handle multiple clients and ensure personalized attention?
Overall, when you find a trusted local agent who is confident in working with military moves, they will be the person who guides you through home searches, negotiations, and the closing process.
Why Connecting with a LOCAL VA Lender Is a Must
Once you find a local, trusted agent to work with, the NEXT most important thing that you do is getting connected with a LOCAL VA Lender to help you with the financial side of things.
Oftentimes as an active military member or a military veteran, you might be inclined to do a quick Google search and find a lender at one of the popular national financial institutions or credit unions to help you with this process, such as USAA or Navy Federal.
While it’s true that these organizations *can* help you get pre-approved and help you understand your finances for your military relocation, working with a LOCAL lender who is familiar with VA is going to be a much better choice for you!
The reason is twofold:
First, working with a lender who is well versed in VA specifically is important because they’ll be able to serve you in a way that’s truly specific to you and your needs versus working with a lender that’s more generalized in real estate.
For example, VA lenders know how to look up VA Entitlement, check your significance of eligibility, understand the different reserve or active duty regulations, and much more!
Next, working with a *local* VA lender is going to be key so that you can truly have someone on your side to help you with the process from start to finish. A local lender will help you have a better understanding of the local market trends and get tailored advice for the specific region you’re moving to, while also truly offering 1:1 support instead of just being viewed as a number in the system.
When you work with organizations at the national level, it might be true that they can get you a good rate, but the service often lacks big time!
When making huge life decisions, you want to know that you can easily get in contact with and ask questions to someone who is going to answer you every single time.
Need support with your military relocation to Billings, MT?
Overall, relocating to Billings for a military assignment can be both exciting and challenging, but with the right support, it can also be a smooth and rewarding experience!
That’s why working with a local real estate agent who is established in the area you’re moving to and KNOWS 👏🏼 THEIR 👏🏼 STUFF 👏🏼 is so important.
Although I don’t consider myself a military expert by any means, I DO consider myself to have the relocation process in general on lock and am confident in the resources and connections I have to make your military move as smooth as possible.
SO, if you have a Billings military relocation on your radar and are looking for a local agent to help you navigate the ins and outs of buying, I’d love to help you get the process started!
CLICK HERE to get connected so I can learn more about your specific scenario!