Sometimes living a life of luxury has nothing to do with extravagant amenities, top-of-the-line appliances or access to the world’s most beautiful design trends. For many veterans and active-duty members of the U.S. military, a life of luxury may simply consist of providing a home in which their families can grow and flourish. Taking this factor into account, San Diego has officially instituted a number of financial assistance programs to assist those who have served our country in obtaining a home.
San Diego is home to the 15th largest military population in the United States with roughly 253,000 military personnel and dependents seeking homes in the sunny Southern California community. In spite of having such a large population of personnel, San Diego fell far behind other major metropolitan areas of the country in providing assistance to those who needed it most.
Recently, the county has been looking to change all that with the institution and increased publicity of some innovative new programs that are helping to put veterans and their families in homes in San Diego. Both the San Diego Housing Commission and the County of San Diego have been offering housing assistance programs that help military members in the low income bracket put a down payment on a home.
The San Diego chapter of the Veterans Association of Real Estate Professionals (VAREP) is a nonprofit organization that was also recently established to help veterans find and finance housing in San Diego and its surrounding suburbs. In addition to providing direct assistance to veterans, VAREP is also committed to education area home buyers on the options offered by VA programs that are working to put more military personnel into their dream homes in San Diego.
San Diego Military Home Owners Finding More Resources
One of the biggest challenges that organizations such as VAREP have encountered in trying to help secure homes for local military families is informing those who qualify for VA loans and special programs of the wide range of options that are actually available to them. According to a recent report in U-T San Diego, “Unfortunately, most service members don’t even know about these municipal programs, let alone how, or where, to apply.”
As a result, VAREP and other organizations have been working hard to host summits and get the word out to San Diego-based home buyers of the various programs in place that can help put them in homes. With increasing home prices in San Diego County, it is imperative for active-duty members and veterans to know what options are out there for their benefit.
According to Altos Research, a California-based real estate analytics company, the median single-family home value in San Diego is now $650,311. Although prices have flatlined in recent weeks, this value is just a hair under the recorded high for the 12-month period that Altos measures.
One of the great aspects of owning a luxury home in San Diego is being a part of a community that cares for its home owners. If you have any questions about San Diego real estate, please contact our representatives today.