Posted by Holly | Posted in save money, Spending smart | Posted on 09-04-2010
My younger sister has been trying and trying to buy a home to take advantage of the $6,500 tax credit, but she just has not had any luck. She finally found a home that she really loved, only to find that the city wanted so much fixed that it would cost double the homes value to do. She decided to walk away and look again, this time in a higher price range with a different type of loan. She’s hoping that things will work out better for her and her boyfriend and that their dream of home ownership will come true.
Most people do not seem to have the problems that my sister has seemed to have and many have bought homes very quickly, but if you have yet to take advantage of this offer time is running out for you. It expires on April 30th, though all you have to have is a binding written contract stating you will be buying the home. It’s still pretty simple.
You should remember in your house hunt that sometimes loving a home and saying yes this is it can be a huge problem, and right now since more and more people are looking so that they can get that tax credit, it’s harder and harder to find a decent home. If you do there are so many benefits to having the tax credit, I know a few people who have used it as a down payment on a home, others have used it to fix up the home and some have used it to create a savings account so if anything happens they have extra. If you got this credit what would you spend it on?