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In a Real Estate Quandary: First Time Homebuyer Tax Credit VS Love of Apartment Life!

By Teri Eckholm

Real Estate Agent with Boardman Realty Minnesota License#90858

July 10, 2009 06:32 PM

Remember how years ago people turned to “Dear Abby” with their intriguing questions about daily life? A newspaper columnist who resolved every type of situation from relationship issues to financial dilemmas. Today, more people seem to turn to Suze Orman for financial advice but I thought I would tackle this situation for the first time buyer who wants the freedom of apartment life but the benefits of homeownership:

Dear Abby, Suze,Teri,

I love carefree apartment living but feel I should take advantage of the $8000 first time buyer credit that is being offered this year. Interest rates are low and I keep hearing about how affordable homes are today but I hate the idea of having to maintain a yard or shovel snow off a sidewalk. I don’t want to deal with deteriorating shingles on my roof or peeling paint off the siding. I like the safety of a security building and off street parking in a heated garage. What would do you advise?

In a Real Estate Quandary

Dear RE Quandary,

Think Condos! Amazing affordability? You bet! Eligible for the first time buyer tax credit? Absolutely! Conforms to your carefree way of life? Without a doubt! Condo living is not just for city dwellers and senior citizens! Many people who prefer the lifestyle of an apartment dwelling find buying a condo as an answer to their prayers. The homeownership benefits without the maintenance that a single family home requires. And the prices on condos are extremely affordable now. In many areas, prices on Twin Cities condos are down tens of thousands of dollars. Yes you can have your home and lifestyle too!

Signed, Teri

Looking for a well priced condo in the New Brighton area? Check out 20 Windsor LN #310A, New Brighton, MN 55112!

Open House Sunday July 19th 1-3PM at 20 Windsor LN NW, New Brighton, MN

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Buying a Home? Check out my new HOME BUYER'S BLOG!

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Andrea Swiedler

Berkshire Hathaway HomeServices New England Properties - New Milford, CT

Realtor, Southern Litchfield County CT

Terri, great post! Condo prices are coming down to an affordable price, and that tax credit... works for me!

Love this post!

Jul 10, 2009 10:53 PM

Tom Braatz Waukesha County Real Estate 262-377-1459

Coldwell Banker - Oconomowoc, WI

Waukesha County Realtor Real Estate agent. SOLD!

Teri

I can't remember when such a great opportunity was out there for buyers as the $8,000 credit.

Jul 11, 2009 01:58 AM

Teri Eckholm

Boardman Realty - White Bear Lake, MN

REALTOR Serving Mpls/St Paul North & East Metro

Andrea--Some people don't even realize that a condo will qualify for the first time homebuyer credit. That should take some of the stress out of the decision for those who are used to living in an apartment with all the exterior maintenance taken care of.

Jul 11, 2009 01:06 PM

Tom--And there is no guarantee that it will be available beyond the 12/1/09 closing deadline. Better to take advantage today if you are a first time buyer!

Jul 11, 2009 01:07 PM

Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

Teri - Condos are a good option for some that enjoy a more carefree life, where they don't have to deal with yard maintenance/upkeep, etc.

Aug 04, 2009 10:30 AM

Troy--Condos are the perfect option for many homebuyers!

Aug 05, 2009 02:27 AM

In a Real Estate Quandary: First Time Homebuyer Tax Credit VS Love of Apartment Life!

Comments(6)

Teri Eckholm

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