First time home buyers need to begin looking for a home to purchase as soon as possible if they are looking to take advantage of the $8000.00 Tax Credit. Since most buyers need a couple of months to find a home that meets their goals and objectives,and the closing process can take between 30 to 60 days, you need to allow about 120 days for the whole process from beginning to moving into you home. This means that you should have began looking no later than September 1, 2009 in order for you to occupy your home before December 1, 2009. If you are looking to have a new home constructed you need to begin the process even sooner. (in fact with out an extension, this dream cannot happen)
If you decide to not take advantage of the $8000 tax credit, you'll need to wait until the home you are looking drops another $8000 to be at par if you buy later.
What will we do????? Let's hope for that tax credit extension!!
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