NJ First-Time Home Buyers

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Use Your Tax Rebate to Buy a Home

Use Your Tax Rebate to Buy a Home

New Jersey first time home buyers and home buyers all over listen up! Not only is the government offering incentives for Americans to buy and sell homes, but this Spring you can offer yourself an incentive: Buy a home with your tax rebate money! Some people will go on vacation. And some will buy a new LED flat panel TV.

But the shrewd will utilize this money for something that may just change their life, such as to buy their first home. Here's a quick review of the many first time home buyer "incentives" that are available RIGHT NOW.

  • The (up to) $8,000 federal tax credit for buying a home (Must be under contract by April 30th, and settle by end of June)
  • Local first time home buyer incentives such as; down payment assistance, reduced down payment requirements, and more. These can be local as in "state" programs, or local as in "county" programs, or even city specific incentive programs. (Contact your local expert for more information).
  • Homes are priced lower right now than they have been for years. Most markets are buyers markets.
  • Interest rates are still very low. However if history repeats itself, and the government keeps their current stance, mortgage interest rates will not stay this low much longer.

 

NJ First Time Home BuyerIs Now the Best Time to Buy?

I won't answer that question for you, but now is certainly a great time to buy, and with the option to use your tax rebate to buy a home on top of everything else ...

"We won't know the bottom of the market until it is in the rearview mirror!"

Comment balloon 7 commentsStephen Kappre • January 22 2010 01:09PM

Comments

Steve, good advise on the state by state programs that are happening in conjunction with the tax break.

Posted by Jane Cross (Homes By Cross serving Charlotte NC Real Estate Needs) over 8 years ago

"We won't know the bottom of the market until it is in the rearview mirror!"

I think this says it all to those still sitting on the fence.

Posted by Paddy (Patricia) Pizappi, Real Estate Associate Broker Hudson Valley NY (Better Homes and Gardens Rand Realty) over 8 years ago

Looks like it is a wonderful time to bUY especially if you are a first time home buyer

HelpfulHannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 8 years ago

Steve - Another great incentive and reason to buy !  If someone is on the fence, now is the time to jump !  Great info !

Posted by Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate (Realtor / Owner - RE/MAX Access) over 8 years ago

Jane - Thanks

Paddy - I don't care who you are, nobody knows exactly, so you work with what you've got and try and make a sound decision.

Hannah - No doubt

Chris - Thanks

Posted by Stephen Kappre, Helping You Home (KW Hometown) over 8 years ago

Hey Steve,

thanks for posting this important tax info! Great video too!

Posted by Tony Orefice, Realtor/Harrisburg NC,Concord NC (Wilkinson and Associates/www.TonyOreficeRealtor.com) over 8 years ago

Hey Steve,

thanks for posting this important tax info! Great video too!

Posted by Tony Orefice, Realtor/Harrisburg NC,Concord NC (Wilkinson and Associates/www.TonyOreficeRealtor.com) over 8 years ago

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