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There's Still Time to Get $8,000 Towards Your First Home


I think the $8,000 first time home buyer tax credit is one of the greatest financial opportunities young people have going these days. Unfortunately, unless Congress extends it past December 1, 2009, it won’t be around for long.

If you’re considering buying your first home this year, remember that if you qualify for this tax credit, your new home may as well have an “$8,000 off!” sticker hanging on it. To continue to help prospective home buyers navigate this opportunity, I recently completed a page featuring first time home buyer tax credit frequently asked questions. I invite you to check it out.

If you have other questions, leave them in a comment on this post or my original posts on the $8,000 tax credit and how to claim the tax credit.

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About David Weliver

David Weliver is the founding editor of Money Under 30. He's a cited authority on personal finance and the unique money issues we face during our first two decades as adults. He lives in Maine with his wife and two children.

Comments

  1. My suspician is that Congress will extend the 8K homebuyers credit into next year. Home sales are still weak. They may also extend it to folks who are not first time homebuyers.

  2. Thanks David! After hearing about the 1st time tax credit from this web site, we filed and got our tax credit. It was pretty staight forward, and helped us out a ton.

    -Dan Malone-

  3. Glad to hear the credit worked for you Dan, that’s great!

    And, HIGuy, I wonder if you’re right that they will extend it…only time will tell!

  4. This is very helpful for many people, because most people definitely “tune out” changes in the tax code. I’ve talked to several people who are looking at buying houses now and completely forgot about the rebate.

  5. I would also add to not let the $8,000 tax credit be the REASON you decide to buy a house, but more of a catalyst for a process that might have already been in place. $8,000 could end up being a drop in the bucket of what a bad decision in buying a house could cost…

    It’s scary how many twenty something’s I’ve recently talked to that name that tax credit as their first motivation to buy…