{"id":559,"date":"2009-02-24T22:26:01","date_gmt":"2009-02-25T03:26:01","guid":{"rendered":"https:\/\/www.realty.com\/blog\/uncategorized\/tax-credits-for-first-time-buyers-explained"},"modified":"2009-02-24T22:26:01","modified_gmt":"2009-02-25T03:26:01","slug":"tax-credits-for-first-time-buyers-explained","status":"publish","type":"post","link":"https:\/\/www.realty.com\/blog\/housing-news\/tax-credits-for-first-time-buyers-explained\/","title":{"rendered":"Tax Credits for First-time Buyers Explained"},"content":{"rendered":"<p><em>Here&#8217;s a simple guide for new homebuyers and who can avail of the credit.<\/em><\/p>\n<p>Obama&#8217;s Economic Stimulus Bill has a special provision for first-time buyers. Many regard to this as a better departure from the previous tax credit proposal last year. The latter covers new buyers who purchased their homes between April 9, 2008 and December 31, 2008. They will receive a tax credit worth $7,500.<\/p>\n<p>The new rule covers those who purchased their homes starting January 1 of this year and all potential buyers until December 1, 2009. Those who qualify will earn up to $8,000. But the provisions can be complicated.<\/p>\n<p>Should a homeowner decide to sell the house within three years, he would have pay back a portion of the tax credit. So as an advice, don&#8217;t buy on a whim just to join the bandwagon. Make sure that you&#8217;ll be staying in your house for a longer period and won&#8217;t be compelled to relocate because of a job offer in another state. Eight thousand dollars can be used to finance home improvements and contribute to your house&#8217;s resale value eventually.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s a simple guide for new homebuyers and who can avail of the credit. Obama&#8217;s Economic Stimulus Bill has a special provision for first-time buyers. Many regard to this as a better departure from the previous tax credit proposal last year. The latter covers new buyers who purchased their homes between April 9, 2008 and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-559","post","type-post","status-publish","format-standard","hentry","category-housing-news"],"_links":{"self":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts\/559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/comments?post=559"}],"version-history":[{"count":0,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts\/559\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/media?parent=559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/categories?post=559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/tags?post=559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}