A First Time Home Buyer Guide
As a potential first time home buyer, you may feel a little overwhelmed with the entire process of buying your first home. Our goal is to empower you with the resources necessary and to give first time home owners the confidence and financial help needed to make the dream of buying your first home become a reality.
The more you know about the home buying process, the more likely you will be able to purchase the home of your dreams. For instance, the largest hurdle most first time home buyers face is saving the funds necessary for a down payment. Did you know that nearly every state has a program to help first time home buyers with the down payment? Some of that help is in the form of outright gifts: grants that never have to be repaid. In addition to state first time home owner programs, there are also Federal programs available. A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. First time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit.
Learn how you can take advantage of this $8,000 tax credit to buy the home of your dreams. Just fill out our Easy online form for your no cost no obligation consultation.
We sincerely want you to be able to buy your first house and enjoy all the wonderful benefits that home ownership brings.
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The New York Times
It May Be Time to Think About Buying a House By RON LIEBER
Published: December 5, 2008
Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.
Then, everyone who sat on their down payment savings accounts for a few years too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime.
Housing prices have fallen drastically from their peak levels in many areas of the country. Rates on 30-year fixed-rate mortgages are already close to 5 percent, and this week there were suggestions that the federal government might try to drive them down further.
Meanwhile, first-time home buyers have the same advantage they have always had, which is that they do not have to sell their old place before buying a new one. That is an added advantage in areas where many available houses simply are not moving, because the people trying to sell them will not be bidding against you.
If you’re hoping for a recovery in the housing market, you ought to be cheering on the first-time home buyers. When they purchase homes, their sellers are free to move on or move up, stimulating further sales.
When Jaime and Michael Proman moved this fall from Michaels hometown, they craved a different sort of life after two years together in a 450-square-foot studio apartment. “We didn’t want a sterile apartment feel,” said Mr. Proman, who is 28 (his wife is 26). “We wanted something that was permanent and very much a reflection of us.”
The fact is, in many parts of the country there are few if any attractive rentals for people looking to put down roots and enjoy the sort of amenities they may spot on cable television home improvement shows. Comparing a rental with a place that you may own seems almost pointless in these situations, especially for those who are now grown up enough to want to make their own decisions about décor without consulting the landlord.