Short answer: buying usually makes the most sense if you expect to stay a few years, have a down payment, and find a home that will be easy to resell or rent out later. If the posting is short or your plans are uncertain, renting or a PMQ keeps you flexible.
Your three options
- PMQ: military housing managed by the Canadian Forces Housing Agency. Convenient and close to base, but availability varies and wait lists can happen.
- Renting: flexible, with no down payment or selling costs, but no equity, and the rental supply around Oromocto can be tight in posting season.
- Buying: you build equity, and relocation benefits can help with buying and selling costs. But you take on maintenance and the risk of selling in a soft market.
Questions to ask yourself
- How long will you likely be here? The longer the stay, the more buying makes sense.
- Is the home easy to resell? Location, layout and price range matter. Homes that appeal to the next CAF family tend to sell faster.
- Could it work as a rental later? Some members keep their Gagetown home when posted out and rent it. Rentals don't get the owner-occupied property tax credit, so property taxes go up.
- What do your benefits cover? Commission on selling, Home Equity Assistance if you sell at a loss, and the Real Estate Incentive if you keep the home all matter. See my benefits summary.
My honest take
I've been on both sides of a posting. If the numbers work and the home will appeal to the next buyer, owning in Oromocto or nearby has served many families well. If they don't, renting for a year while you learn the area is a smart move too. I'll run the numbers with you either way.
Next: where to live near the base and my House Hunting Trip checklist.
Talk to Nick
Let's make a plan
Have a question about your own move? Call or text 506-304-9292, or send me a note and I'll reply within one business day.