Looking to buy a house? Do it now. Since my grandma has moved into assisted living I've been thinking about buying her little ranch house. My rent is currently $700 (includes heat) and if I can buy her house for less than that I'm all for it.
There is a new credit out there for first time home buyers that's gonna help me.
First-time home buyers who buy or bought a home between Jan. 1 and Dec. 1 of this year are eligible for a tax credit of 10 percent of the value of the home — up to $8,000 — and they don’t have to pay it back.Sweet! I love free money that I don't have to pay back! I've never actually ever been offered any, but I'll take it!
That’s right. The government is giving money to those who invest in a residence for themselves and live there for at least three years. - From the Bangor Daily News
Last week I went to the credit union and was pre-approved for a loan. I was shocked. I mean, I have great credit but I also have $50k in student loans. Still -- they thought I was worthy.
I don't know about where you live, but where I live it seems that every other house on the street is for sale. To be honest, I wouldn't be in the market for a house if it wasn't grandma's house. I need a deal to make it work with my salary and my student loans. But all the press out there for first time home buyers is encouraging. Keep your fingers crossed!
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3 comments:
I think it's such a great move, Mel! Orono will always be a great town to invest in, because there are always people coming and students to rent to.
my fingers are crossed wicked hard.
I really wish I could get into a bigger place right now, but we have a condo to sell, and things are just so crappy for sellers!!
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