|
Need Extra Incentive to Buy a House? How about $15,000!
 The current home buyer tax credit of $7,500 could be replaced by a $15,000 tax credit if the 2009 economic stimulus package ultimately passes. The best part of this is that the old bill requires you to pay the $7,500 back but the new bill not only increases the amount to $15,000 but it would NOT require you to pay it back. |
Advantages and Disadvantages of Buying Right Now
Advantages
1) Rates are low and home prices are low
2) Mortgage goes toward equity, rent is thrown away. ent never goes away, mortgages can be paid off
3) You can decorate, change and improve your home to suit your taste and increase its value
4) Sometimes cost of owning can be cheaper than renting
5) Tax Advantages
6) Appreciation over time
Disadvantages
1) You may pay more per month than rent. Also, you must pay for repairs and maintenance.
2) Do not count on getting a quick return on value
3) Reduces flexibility in choosing a job or a new location you'd like to live.
|
