Due to the economic stimulus plan, buying now offers many benefits for first time home buyers. It will be beneficial to you and your clients to make sure that they are educated on the current changes and how they can benefit from them.
1. $8,000 for first time home buyers: The economic stimulus plan includes a tax credit of up to $8,000 for first time home buyers. Not only do you have to be a first time home buyer but they must use the property purchased as their principle residence. The great thing about the $8,000 tax credit is that it does not have to be repaid like the previous $7,500 tax credit.