The economy has been in the dumps this last year.. So many people have lost their jobs, small businesses are crumbling, and the housing market has suffered incredibly. It seems we are just waiting for some good news.
Have you heard about the 2010 Homebuyer Tax Credits? I was just reading about it, and it seems to be quite a deal. If you are a first time homebuyer or haven't owned in the last three years, you could qualify for an $8,000 tax credit. Also, Homeowners who have lived in a home consecutively for the 5 of the 8 past years can receive up to a $6,500 tax credit! Is that good news or what???
One thing you need to keep in mind is the Homebuyer Tax Credit will only take affect if you have a written binding contract by April 30, 2010 and close by June 30, 2010. There are some other things to keep in mind, such as the limitation on the price of home which tops at $800,000. There is also income limits. I think when Buying First Home it's probably the largest purchase we make, and making it sure you do all your homework. So Please take some time to read up on this Tax Credit, it may be worth the investment for you and your family!
You may also find the video below helpful.
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