Home > Blogs > Sami T. Siddiqui > Real Living GreatWest Real Estate

Can you afford to own a new home?

Real Estate Broker/Owner with Real Living GreatWest

January 27, 2010 03:56 AM

Plenty of Americans today are looking at buying new homes, not because there is a drastic change in the country’s economy, but it has been the Congress move to increase home sales once again after a long lull in the home sales department. So what does this mean for an average school teacher who probably has a daughter to take care of on an single income? It means that this school teacher can definitely look at building options towards buying her family a new home!

The Obama government had offered $8000 as tax credit which was refundable for those who were buying homes for the first time. This tax credit was part of the stimulus package to introduce the prospect of buying homes for the average salaried person. What we should be doing is getting to understand how to build savings henceforth and also work towards getting our credit paid for as soon as possible, even if it means working an extra job for that extra dollar!

The best part about this is that you don’t have to pay this money back and that’s what makes it a refundable option! A lot of Americans about 1.4 million and above are filing for tax credit. Congress definitely looks at building back real estate since it was the first to bring in the recession and many legislators have voiced that rescuing this industry could help bring back the business it once generated and is also a learning curve for all Americans on educated spending.

This move of tax credit not only is of great assistance to home buyers but also to those involved with restoration or maintenance works on their home, most home buyers would be shopping for new tiles, new bath ware or buying furniture or redecorating some parts of the room , some of them even rework the plumbing and heating around the house. We must remember that all of this costs a lot of money and it is no simple thing to keep charging your card while you know your mortgage is sitting pretty waiting for you to pay up!

Legislators point out that by providing tax credit, home buyers can make use of the funds to build or rebuild parts or entire areas of their home and not worry about the payback. This move has also helped increase businesses across furniture companies like Ikea, or the Wal marts and Best Buys.

So those of us considering quaint homes be it in Roseville or Yuba City or Elk Grove , it is about time we started doing our homework on realtors and getting our finances in place to look forward to that home with a spiral staircase running through your home or a beautiful lawn on which the kids or your elderly parents can take a stroll on and keep themselves busy! The cost of $10 billion is considered modest,keeping in mind the significance of housing sector with relation to the entire economy.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com

T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com
GreatWest Videos: http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens
MySpace GreatWest Blog: http://www.myspace.com/greatwest
Picasa Web Album: http://picasaweb.google.com/brodiestephens