First Time Homebuyer?
Are you a first time homebuyer? Do you want to own your own house but are worried that you do not have enough money? Well, good news! The United States government is issuing something called a tax-rebate, whereby first-time homebuyers get an approximate $8,000 tax break when they buy their home. However, there are requisites that one must meet prior to qualifying for the rebate. First, one has to pay at least $8,000 in tax each year. This sounds like it’s just a break-even, right? Y0u pay $8,000, you get $8,000. Well, no. Usually, one would not get this tax-break, and either way, one would still have to pay the tax. Due to the recessing economy, the US government has decided to issue this rebate to encourage first-time homebuyers. How does this help the government, you might ask? Well, the economy is strongly built on the estate foundation. If there are more homebuyers, banks make more money, and when banks make more money, businesses get more loans, and when businesses get more loans, things are just cheaper and consumer confidence thrives. So, if you have yet to own your first home, be sure to hop on the rebate bandwagon before it’s too late. The rebate expires in December 2009!
