If you’re a first-time homebuyer in the 757 (Norfolk, Virginia Beach, Chesapeake, and nearby), you might be wondering if buying with 0% down is better than renting. This is a common question, especially for military families who qualify for VA loans.

What’s 0% Down?

VA loans and some first-time buyer programs let you buy a home with no down payment. This means you don’t have to save up thousands before you move in.

Renting in the 757

Rent for a two-bedroom apartment usually falls between $1,400 and $1,800 a month. Moving in can cost $3,000 to $5,000 upfront. Renting is flexible, but your money doesn’t build any equity.

Buying with 0% Down

With a $300,000 home, your monthly payment might be around $2,000, including taxes and insurance. VA loans often skip private mortgage insurance, and sellers can help with closing costs. You’ll need to budget for repairs and maintenance.

Equity or Flexibility?

Buying helps you build equity over time. Renting keeps things simple if you might move soon, like for a new job or deployment.

What’s Right for You?

If you’ll stay in the area for a few years, buying with 0% down can make sense—especially with VA benefits. If you need to move soon, renting might be smarter. Look at your plans and budget to decide what fits best for you.