FORT RUCKER - BAH RATES INCREASED 2008
Included in Fort Rucker Online Relocation Guide - Enterprise AL : Home of Fort Rucker U.S. ARMY Aviation Training Center.
Original Post: www.Activerain.com
Living on-post has changed drastically. Fort Rucker in the past few years has gone to a privatized management company. FT Rucker's on post housing is no longer handled by the US Army, but by Picerne Military Housing Management Company. The thought of waiting until retirement to purchase a home has become a thing of the past. Active Duty Military families are now opting to make their tax-free BAH (Basic Allowance for Housing) build equity in home ownership.
Now could be the perfect time in the Fort Rucker / Enterprise area to purchase a home. Market statistics suggest that the FT Rucker area is a buyer's market. In a buyer's market, home buyers can capitalize on the lower interest rates along with some lower prices and motivated sellers.
Buying a home with your tax-free BAH money is a real tax advantage. Not only is your BAH non-taxable income but the mortgage interest is also a itemized tax deduction.
If you are a first time home buyer (or have not owned a home in the past 3 years), Congress passed a $7500.00 tax credit for qualified purchases between April 9, 2008 and April of 2009. Contact Michelle for more details and to see if you qualify for the tax credit.
Should being an active military member stop YOU from buying a home?
Before you make that decision you should consider the following questions:
- Can I get financing? (VA Loan, FHA Loan, Conventional Loan)
- How much do I have for a down payment if needed?
- How long until I PCS?
- If I was to transfer could I effectively manage my own property?
- Could I afford to pay a property manager to manage my rental?
- Am I able to save 2-3 mortgage payments in the event I unable to rent quickly?
After you and your family have decided that buying a home in the Fort Rucker area is your next step, let's take a look at the BAH rates for FT Rucker, Enterprise Alabama and Wiregrass area:
Effective Jan. 1, 2008
| Rank | BAH w/o Dependent | BAH w/ Dependent |
| E-1 | $553 | $697 |
| E-2 | $553 | $697 |
| E-3 | $553 | $697 |
| E-4 | $553 | $697 |
| E-5 | $603 | $766 |
| E-6 | $945 | $1260 |
| E-7 | $1004 | $1339 |
| E-8 | $1069 | $1425 |
| E-9 | $1118 | $1490 |
| W-1 | $946 | $1261 |
| W-2 | $1031 | $1374 |
| W-3 | $1119 | $1479 |
| W-4 | $1280 | $1494 |
| W-5 | $1358 | $1511 |
| O-1E | $1017 | $1356 |
| O-2E | $1097 | $1463 |
| O-3E | $1260 | $1496 |
| O-1 | $627 | $822 |
| O-2 | $1005 | $1249 |
| O-3 | $1120 | $1475 |
| O-4 | $1347 | $1518 |
| O-5 | $1399 | $1546 |
| O-6 | $1479 | $1559 |
| O-7 | $1509 | $1577 |
NOW, lets take a look at Rent Accumulation. The Chart below illustrates how much you and your family pay toward your land lord's mortgage or to Privatized Housing Management Companies over a period of time, with NO TAX ADVANTAGE to you and your family.
|
If your monthly rent is:
|
1 Year |
2 Years |
3 Years |
4 Years |
5 Years |
10 Years |
15 Years |
20 Years |
|
$600 |
$7,200 |
$14,400 |
$21,600 |
$28,800 |
$36,000 |
$72,000 |
$108,000 |
$144,000 |
|
$700 |
$8,400 |
$16,800 |
$25,200 |
$33,600 |
$42,000 |
$84,000 |
$126,000 |
$168,000 |
|
$800 |
$9,600 |
$19,200 |
$28,800 |
$38,400 |
$48,000 |
$96,000 |
$144,000 |
$192,000 |
|
$900 |
$10,800 |
$21,600 |
$32,400 |
$43,200 |
$54,000 |
$108,000 |
$162,000 |
$216,000 |
|
$1,000 |
$12,000 |
$24,000 |
$36,000 |
$48,000 |
$60,000 |
$120,000 |
$180,000 |
$240,000 |
|
$1,200 |
$14,400 |
$28,800 |
$43,200 |
$57,600 |
$72,000 |
$144,000 |
$216,000 |
$288,000 |
|
$1,300 |
$15,600 |
$31,200 |
$46,800 |
$62,400 |
$78,000 |
$156,000 |
$234,000 |
$312,000 |
|
$1,400 |
$16,800 |
$33,600 |
$50,400 |
$67,200 |
$84,000 |
$168,000 |
$252,000 |
$336,000 |
|
$1,500 |
$18,000 |
$36,000 |
$54,000 |
$72,000 |
$90,000 |
$180,000 |
$270,000 |
$360,000 |
As you can see, paying a monthly rent can quickly add up. Instead of wasting your BAH on rent - LET IT BUILD EQUITY - for you and your family.
MAKING YOUR BAH WORK FOR YOU AND YOUR FAMILY
Relocating to FT Rucker? Request a FREE Relocation packet to prepare for the move.
If you would like to purchase a home in the Fort Rucker / Enterprise area
call Michelle @ 334-237-2657. We can discuss your future plans and I can set you up on an email campaign to receive the new listings quicker than YOU can find them.
If you have any questions about real estate in Fort Rucker / Enterprise Alabama, contact Michelle Tucker with Realty World - SHAP at (334) 237-2657 or visit her personal website Fort Rucker Real Estate where you will be able to search for homes and find more Fort Rucker Real Estate information.
Click here for my ONLINE RELOCATION PACKET, or register for a RELOCATION PACKET to be mailed to you, which includes FT Rucker map, calendars of events, several other brochures and maps of the area.
Picture Courtesy of Michelle Tucker @ flickr.com
Copyright 2008. All Rights Reserved. Fort Rucker Real Estate Blog - Michelle Tucker
