With today’s economy being weak, due to high unemployment and the weakened dollar, there is still good news out there for people looking to buy a home. Whether you are looking to make a first time purchase or even if you currently own a home, this program may be for you.
Some of the reasons include:
1. Lower prices
2. Anxious sellers
3. The 2010 Homebuyers Tax Program has been extended
The 2010 Homebuyers Tax Credit program has been extended until April 30th, 2010. It is not too late to get your first home. Even those of us who already own a home have a chance to get into this program.
For first-time homebuyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit.
For seniors, this could be a big help to downside into a smaller home, with less maintenance.. After the kids are grown and gone, many times a 5 bedroom home is too large. This is the perfect opportunity to look into different neighborhoods, without regards to the school district. Senior communities are just beginning to explode. These communities tend to have various social amenities not found in the “bedroom” type communities we all raised our kids in.
For young couples just starting out, this would be the great way to get your first starter home. Saving large down payments when you are just starting out in your career is hard to do. This plan could make the difference between living in your new home now or being stuck in an apartment for years.