Do you want to be a First-Time Homebuyer?
Don’t be nervous, there has never been a better to time to buy your first home!
Here’s why:
· Up to $8,000 Federal Tax Credit for first-time homebuyers or those that have not owned a home in 3 years – before December 1, 2009.
· Affordability. The current economic climate has made this the greatest “buyers market” in recent generations. The value of current homes compared to what you get is truly historic!
· Selection is great. It’s a buyer’s market- bigger the selection, bigger the variety!
· Good financing options through FHA. The Federal Housing Administration has great deals for first-time homebuyers. The rates are usually more favorable than banks or mortgage companies, and they only require 3.5% down.
Where do you begin?
- Call Me.
h Find a property you want to see.
- Get Prequalified
h Find out how much you are able to afford in mortgage payments. This will set a range for your property search.
- Start Your Search Now
hFinding a home can take a while and places move on and off the market everyday. Begin your search early -- You don’t want to let “the perfect place” get away.
- Learn all of the Tax Benefits In Your Area
h The government will award you up to an $8,000 Tax Credit for purchasing your first home, if you close before December 1, 2009.
h Some states offer extra credits and/or other beneficial perks.
Interested in foreclosed properties or short sales, here are some things you should know
When buying your first home you want an experienced advocate like me on your side.
“Nobody in the world sells more real estate than RE/MAX!” RE/MAX Sales Associates have the experience to get the job done is today’s market.
While often a great value, foreclosure transactions are more complicated, take more time and fall through more often than traditional home purchases.
REMAX Associates average more sales than other real estate agents and has the most productive sales force in real estate.
Make sure that you have an experienced advocate like me on your side.
Remember, there is no cost to you in having me help you look for homes. All RE/MAX Associates are members of the National Association of REALTORS® (NAR).
What are the benefits of owning your own place?
· Quit throwing your money away
When you pay rent, you are paying off your landlord’s investment and your money is gone forever. Often your mortgage payment will be less than what you are paying now to rent.
- Tax Incentives
You can deduct that mortgage interest from your federal and some state taxes. You can also deduct property taxes that you will pay in your community.
· Think long-term investment
As time goes by, your home should gain in value if well maintained and in a solid neighborhood.
· Be your own landlord
You will no longer have to tolerate loud, party neighbors; annoying landlords; limited parking and security issues; or that odd smell coming from your neighbors place. This list could go on-and-on for days...but one of the best things about having your own home is being able to give it your own personal touch.
Frequently asked Questions:
- Who is eligible to claim the tax credit?
First-time homebuyers are eligible for the tax credit. The buyer must purchase a home on or after January 1, 2009 and before December 1, 2009. To qualify for the tax credit, the purchase date is the date of the closing and when the title of the property is transferred to the new owner.
- What is the definition of a first-time home buyer?
A first-time homebuyer is a buyer that has never owned a home before. This also includes a person who has not owned his or her personal residence during the past three years. For married taxpayers, the homeownership history of both the home buyer and his/her spouse must fall within the same requirements.
- How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- Are there any income limits for claiming the tax credit?
Yes, the income limit for single taxpayers is $75,000 and the limit is $150,000 for married taxpayers filing a joint return.
*You’ll have your own castle, no matter what size, to call your very own!*
