Good News for military members! BAH will be increasing for a lot of troops! BAH, or Basic Allowance for Housing, is provided to military members not living in government quarters. The allowance depends on the service members duty station zip code, rank, and dependency status.
The 2014 rates have been released (see them here!) and troops will enjoy, on average, a 5% increase in the previous year's allowance.
BAH is non-taxable income to cover the cost of housing and/or utilities and has played a huge role in the housing market. Military members are able to use this non-taxable income to invest in real estate and build their financial wealth. Despite the fact that military families move every three to five years on average, many decide the benefits of purchasing a home far outweigh the reasons not to. Homeowners can enjoy the tax benefits and appreciation of real estate, as well as the more personal reasons like the ability to paint, or have pets, or the feeling of ownership and home.
Many homes for sale in the Jacksonville, NC area will be purchased by military members and they will be counting on BAH to help fund their home purchase. This slight increase will go a long way in the local real estate market.
Questions about homes in the area? Call Amanda! 910.545.0450
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