South Jersey Nesties
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

$7500 New Home Buyer Tax Credit

Have we discussed this topic yet?

We settled on our house in Nov. '08 and at first didn't think we would take advantage of the $7500 tax credit. However, after realizing that it would help do some major things in our house (replacing cabinets, replacing windows), and gaining that money back when we're ready to sell, we've decided to go for the tax credit. Has anyone else???

I just wish I bought in '09 and could get the $8000 credit, not repayable!

Re: $7500 New Home Buyer Tax Credit

  • We bought in 2007, but I probably would have done it if we bought in 2008.

    That $8k credit is awesome! 

  • WE havent done our taxes yet, but when we do we are going for it!
  • We settled on our house in Sept 08 and are taking the $7500. ?I feel pretty jipped since just a few months separates us from not having to repay it. ?Boo hoo.
  • We are getting our taxes done on Thursday and will be filing for the $7500 tax credit. We purchased our house in April 2008.
  • We settled the day before Thanksgiving and we took it. I just wish our house was finished Jan 1st so we didn't have to pay it back. Oh well. It will help us finish our basement and build a deck.
  • We bought in 2005 so nothing for us. Sad
    Warning No formatter is installed for the format bbhtml
  • imageMrs.KaityJane:
    We bought in 2005 so nothing for us. Sad

    Me too.

  • imageeb629:

    Have we discussed this topic yet?

    We settled on our house in Nov. '08 and at first didn't think we would take advantage of the $7500 tax credit. However, after realizing that it would help do some major things in our house (replacing cabinets, replacing windows), and gaining that money back when we're ready to sell, we've decided to go for the tax credit. Has anyone else???

    I just wish I bought in '09 and could get the $8000 credit, not repayable!

     

    I have been telling everyone to take it. Even if you don't need it, put in a long term cd, bond or the highest interest bearing instrument you have access to. You'll pay it back at $500 a year interest free but you'll make money off it. By the time it's paid off, you could potentially double or even triple it with the right investments. If you buy in 09, congrats, free money!

  • we bought in 06, so nothing for us.

    but we are hoping to buy again this year... the 09 credit is only for first time buyers though right?

  • imageRenee&Mark:

    we bought in 06, so nothing for us.

    but we are hoping to buy again this year... the 09 credit is only for first time buyers though right?

    Yes, pretty sure it's for first-time home buyers only...

Sign In or Register to comment.
Choose Another Board
Search Boards