I was sitting at a closing last week with a first time home buyer that has rented a home for many years - now they are so excited to be moving into their new home. They received the $8,000 tax credit from the Federal Government, plus the 1,800 ga tax credit (over 3 years offered by Ga.) - coupled with an interest rate of under 5% is simply amazing - as a real estate agent I have bloged many times about how this is a great time to buy.
What I was not prepared for was the answer to this question - What were you paying for rent compared to your new payment. Their rent payment was $875 per month and their house payment was $740 per month (plus $40 per month for the HOA). their house payment was over $100 a month less, they will now be able to deduct the interest on their mortgage and their property taxes so their after tax cost of housing just went way down - and to top the deal off their home appraised for $40K more than they paid for it.
How did they find this great deal - it starts with working with an Agent you trust and can communicate with. It also requires being patient and not being confined to a certain area. My system worked perfectly for this couple. If you are considering buying a home and are intereviewing agents to help you find your next home - I ask you to consider me, John Foster with Re/max Greater Atlanta - call me at 770 722-7010 or visit my website at www.Fosterhomeinfo.com
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