Whether this is your first PCS move or not, you know that PCS moves can be complex. Your Basic Allowance for Housing (BAH) will help make your next home affordable. But the move itself will involve costs, and you may also have housing expenses that fall outside of what your BAH can cover. Below are a few tips to help you manage your finances and save money during your next PCS.
Financial Tips for PCS
- Know what you can get reimbursed and how. The military will reimburse you for certain costs via a per diem travel allowance. These include hotel rooms, gas, and meals (up to a limit). Make sure you gather receipts for all of these expenses! However, the military will not reimburse you for some other moving expenses, like the cost of moving vehicles or pets, fees associated with stopping or starting utilities, or cleaning costs. Knowing what you will and will not be reimbursed for is essential for planning the details of your move. You also might have to account for lost income if your spouse needs to get a different job.
- Request a TDY. When you are PCSing, you can ask for a 10-day TDY. You can use those days to take care of the logistics of your move without eating into your leave time.
- Prepare for some extra costs associated with buying a new home. Moving into a new home during a PCS can be more expensive in some ways than completing a similar move as a civilian. For starters, you may have less time and ability to negotiate when you are choosing a home. You also may have a hard time bargaining down the fees you will have to pay the real estate agent. In some cases, you could end up paying more for the home inspection and repairs too. Try and budget some extra money for these expenses, and look for other ways you can save to help offset some of those costs.
- Work with the right mortgage company. One area where you may have an opportunity to save money during a military relocation is with respect to your mortgage. A lot of military homebuyers immediately call Navy Federal or Veterans United. But these are not the most cost-effective options. What you can do instead is contact a local mortgage lender, who can offer you more personalized service and competitive rates.
Buy a Home or Refinance in San Diego CA
She has helped numerous military members and their families to move quickly and affordably into new homes in San Diego. She would love for you to be the next borrower she works with. If you are ready to save money moving into a beautiful home, please give her a call at (619) 857-7191 to schedule your consultation.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.Get Pre-Approved Today