It looks like the economic turmoil in the US is ending and there is great news that a huge relief for first time home buyers and people who have owned their first residence in 5 years. The federal government is giving them a break from the stress this crunch has brought in the past year. I have learned today that income tax will be credited to them which could reach as high as $8,000.00. That is like hitting the jackpot and deserving what you have worked for. Imagine you would benefit from the taxes you paid for from the time you started your careers. The $8,000 Tax Credit is not a joke and can alleviate people who are still recovering and getting more burdens from the situation brought about by failing companies and ailing market forces. There are a lot of people who lost their jobs, got a new one and then got back on track so this is going to be a better alternative for them than purchasing a home which they could not afford. I really like the fact that they even give out around $ 6,500.00 tax credit to people who have lived 5 years consecutively in their first home from the last 8 years. This is a very big help for families who just started.
It has already been extended by the federal government and expanded at the very least; so the right move in this case to take advantage of the opportunity to get the huge tax credit they offer so you could purchase the home you need. It is plain and simple. If I were you guys I would seize the opportunity!