8,000 Reasons to Buy Right Now!

Opportunities come and go, but it's crunch time in the world of Real Estate!  I can't say it enough, its the best opportunity we've ever seen to buy a house.  Low interest rates, large inventories of homes, and motivated sellers.  What could $8,000 dollars do for you?  How could $6,500 help you buy that home with the extra bedroom and bath?

Of course I bought my house 2 years ago and am part of the very small percentage of people who do not qualify for these credits.  But as I dare to dream about Ways I would take advantgage of the tax credit, this is what I came up with:

1. Buy smart - Look for the good location, find out the average sales price in the neighborhood, and find a home below that average.  The only thing you can't change is location, so make sure that's your number one priority.  TAX CREDIT ADVANTAGE: Buy the dated house and use your Tax credit to give the kitchen and baths a modest facelift and repaint the first floor.  You'll build instant equity if its done right and never pull a dime out of your savings.
2. Buy the bigger home - If your buying a new primary residence, you can receive a 6,500.00 tax credit.  With prices soft in the market, you'll not only save big due to the percentage decrease in sales prices of the next home, but get $6,500 towards moving costs and new furniture...come on, everyone loves a new sofa. 
   
3. Save the Money - I know, I know, this is tough one, but these days, its nice to have a rainy day fund.  If you've been prepared enough to make sure your financially ready to purchase, then throw this check right back into the savings account.
4. Use the Credit for another Credit - Take your home buyer Tax credit and put it towards some energy efficient upgrades.  You get a third of your monies spent back (up to $1,500) as a tax credit.  Max out this credit with a $4,500 of windows and you just saved on your energy bills as well.  I think that's a Win-Win-Win. (make sure you check the qualifying specifications of the windows, insulation, etc. before installation)  One other thought, wait until the end of the year so your out of pocket expense can be regained as quickly as you get your tax return submitted the next year.
   
5. Jump Start Your Mortgage Payoff - Start paying down that principal.  Take a look at your amortization schedule and start knocking out future principal payments.  I like to print out the full schedule and cross off every payment I make.  It will save you tons of interest and will cause an quicker increase in the amount of equity you build in your home. 
6. Take a Vacation - Get out out of town and refresh.  This kind of credit could take you really fair once or cover you for the next 5 years. 
   
7. Buy a new Full Suspension Mountain Bike, Flowers for the Wife, Swingset for the Kids...Okay, I think you get the point.
   

All I ask is that you think about it and if you have any questions about qualifying, let me know.  $8,000 is a lot of money.

Take Care & Advantage,

Tyler