Tuesday, April 28, 2009

Timing is Everything!

Photo by Ben Heine on Flickr.

As you must have heard, there are many incentives to purchasing a house in this market, especially for first-time home buyers. As my good friend Mitch always mentions, one of the more popular incentives is the $8,000 tax credit for a first-time home buyer who moves into the new residence before 2009 year end. Buyers must act fast, because in order to capitalize in this market, you may have to purchase a cheaper home that needs some tender, love, and care. In other words, your house may not be done with renovations by the end of the year, and you may forfeit the tax credit being offered because you won’t be able to occupy your home before year-end. For those looking to have a new home built are even more pressed for time. The process to select a community, a builder and to confirm the options and amenities you would like to have in your home is a very time consuming process. First-time home buyers should tackle the opportunity to buy now, before it’s too late. With the market hitting bottom, the interest rates nearing historic lows, and a tax incentive, buying a home for first-time buyers is nothing less than urgent!!

Resources are also available to help educate consumers on the home building process at NAHB.

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Imee May 8, 2009 at 5:38 AM  

Yeah, right now is indeed the perfect timing to buy a home. The first-time home buyer tax credit is a fantastic way to urge people to invest in homes. They're at the lowest prices in ages, and another $8,000 off is just a great deal.