A month or so ago, I was contacted by a guy named Scott Riley, at HomeBuyerNation.com. I don’t know Scott Riley, and I have never heard of his website at HomeBuyerNation.com, but he asked a unique question for a post he was writing, so I played along, expecting that I really wouldn’t hear from him again. Turns out I was wrong.
So you want to buy your first home? You’ve got a good job, you’ve saved up for a downpayment, and the house band the tenants upstairs started six months ago is progressively getting worse instead of better. Yes, it might be time to consider buying your first home. This is part one of a four part post that covers the general steps to buying your first home, and covers things like determining what you can afford, getting a loan, finding a house and handling inspections, and more. If you have questions not covered, email me or post in the comments below!
Why should I look into buying my first home? Let me give you 4 quick reasons:
That’s right, $1 million has been set aside to help first-time buyers ease into the Pulaski VA real estate market. From WSLS.com:
The tax credit seems to be all the rage in the real estate world these days, and for good reason … it’s going to expire. See that ticker on the right side of your screen (if you’re on a mobile phone, apologies – you’ll just have to imagine it) – that ticker is counting down to the expiration date of the first-time buyer credit on November 30th. Any home buyer, who hasn’t owned a home in the last three years and who close on or before November 30th, is eligible for up to $8000 in tax credits. Anyone who closes AFTER November 30th gets … zero … nothing.
Everyone probably remembers the hit song from Bon Jovi: “ITS MY LIFE……….ITS NOW OR NEVER!!!!”
As we countdown to the expiration of the $8000 first-time buyer tax credit, the question everyone seems to be asking is “are we going to see the credit again?” As I was speaking with a seller tonight, it was one of the questions he wanted to ask, and I’d bet at least once a day for the last few weeks has someone stopped me to ask whether I’ve heard that the first-time buyer tax credit will or will not be extended.
Our thanks to Bob and Sally for their role in this video
A few weeks ago, I had the opportunity to speak with friend of the blog Sarah Cox of The Roanoke Times about the First-Time Homebuyer Tax Credit. We wanted to clear up some of the confusion about the credit, and Sarah posted a piece in The Roanoke Times today about it (seriously, RT, can we get this section of the paper online?). Here’s a reprint (links are mine), as well as a follow-up at the end now that even more details have changed.