Year to own a home
Every one I know wants to have a house of their own. Even me! I live in a house my dad owns. It’s ours. But I still want to get a new home for us. Somewhere more peaceful and quiet. If you are looking to buy a home for the first time, or a new home for the nth time, know the 2010 Homebuyer Tax Credits before doing it.
This is just an overview of what a homebuyer can expect. For homeowners who wish to acquire a new property after 5 years of living in their present home as well as first-time buyers, the federal income tax credit has been extended and expanded to include you. For the former, homeowners who have lived in their current home consecutively for 5 of the past 8 years, a tax credit of $6,500 can be given to you. For the latter, first-time homebuyers, or those who have not owned their own property in the last three years, an $8,000 tax credit is up for you.
We should all take advantage of these tax credits as there may be no future extensions. Go get a written, binding contract by April 30, 2010. Income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.
This is the year to buy our own homes. Go and find out more about the 2010 Homebuyer Tax Credits. And then do a Home Search of the property you want to own at www.ColdwellBanker.com now.
