The 2010 Basic Allowance for Housing Rates (BAH) have been published for active duty military members.
For those who are not familiar with BAH, the rates are based on the median rental rates in the area and may not cover what a service member pays in a monthly mortgage if they decide to buy a home while stationed in the area. The median rental rate includes not only the rent but average utilities and the cost of rental insurance.
It is not uncommon in our area to have military members stationed at the Fort Belvoir choose to live in Prince William or even Stafford County where home prices or rental rates may be lower. However they still will receive the BAH rate for the Fort Belvoir (zip code 22060). Northern Virginia is one the 350 Military Housing Areas (MHA) that looks at the rental market data within one hour's commuting distance in rush hour traffic.
If you have orders to Fort Belvoir, Pentagon, Quantico any of the local military installations in Northern Virginia, DC or MD give me a call. I can help you find a home that will give you the maximum use of your 2010 BAH rate, whether it is buying or renting! I've walked in your shoes all around the world and know how difficult the transition to a new area can be.
We are working with a young Army couple trying to get them into a home where they will use every bit of their BAH. Tough on them, but this short sale is a very good deal and it should result in instant equity. Keep your fingers crossed.
Michael-kudos! Hope the deal goes through and with all short sales fingers AND toes are crossed.
Cindy: Having someone helping a relocating military family that has been there is priceless. You are a great asset to any military family relcoating to Fort Belvoir.
Chris Ann- Meet with a new military relocatee today. House hunting will have to wait until after the snowstorm though.