$8,000 Tax Credit Ending Soon!
If you are a first time buyer, I am assuming that you are aware of the $8,000 tax credit that you are eligible for if you close on a home by November 30th of this year (2009). That is only 81 days away!
Just to remind you, this is a non refundable amount and it currently has not been extended by our government.
How Much Time Does It Take To Buy???
If you are planning on buying you don’t want to wait until the middle or end of October. Once you find the home you want to purchase, it typically takes 30-45 days before you actually settle on the home. Also, inventory is VERY low right now so it could take you a while to find the home of your dreams.
What If You Have A Lease???
If you have a lease that doesn’t end until after 2009, my advice would most likely be to break it! I don’t advise this in every situation but for most, the worst that could happen is that you end up paying a double deposit (check your lease agreement). If your lease is only $1800 then you pay $3,600 but this will all be worth it when you get $8,000 from the government. (Not all situations are this easy- seek further council if needed).
Remember…
November 30th… $8,000 from government if settled on a new home by then if you are a first time buyer.
Contact me with any questions or to begin your house hunt…
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