Why stay in your rental or with your parents when you could own your very own place and pay your own mortgage instead of someone else's? It is the perfect time right now for first time home buyers. Not only might you have a nice down payment from the generous gifts your guests gave you at your wedding, but you could also qualify for the first time home buyers tax credit as well! Whether it be a townhome, condominium or single family home, I can help you through the entire process. When my husband and I bought our home almost 12 years ago, we took our gift money and used it as a down payment on our first home. Our house doubled in price since then. It was the best investment we ever made. Don't let the news reports scare you away from being a homeowner right now. The combination of mortage interest rates at historic lows, the first time home buyer tax credit and home prices right now, it is the perfect awesome storm for first time home buyers!
IRS Web Site - First Time Home Buyers Tax Credit Information:
The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase. (text from IRS web site)
http://www.irs.gov/newsroom/article/0,,id=204671,00.html
Please note: The tax credit is not a tax write-off. It is actually an $8,000 credit that the government gives you back for becoming a first time home buyer. For example, when you do your taxes at the end of the year, if you owed $5,000 in taxes, you would actually receive a check back in the amount of $3,000!
Please feel free to contact me with any questions about homes in Central New Jersey!
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