Buying A Home
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Selling a home?

I know this is the "buying a home" page, but I dont know where else to post this!

 Has anyone here bought their first home through the 1st time home buyers grant and sold before the 36 months is up?

 We HATE our neighbors, we HATE the township and want out in the worst way. Kinda tied down until next summer.

 

Re: Selling a home?

  • We're selling ours due to a move.  It's going to suck to pay back that $8000, but you gotta do what you gotta do.
    image
  • imageTarHeels&Rebels:

    I can handle 9-12 months for $8k.

    If it's really, really that bad, rent the house out.

    If it is no longer your primary residence (you rent it out) you have to pay it back. As an FYI you only have to pay back the gain on the sale up to $8k. I'm really guessing no one is making money on their homes in the last 36 months (especially once you back out realtor fees) so if you lose money, you don't pay it back.
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  • imagelil_jen051708:
    imageTarHeels&Rebels:

    I can handle 9-12 months for $8k.

    If it's really, really that bad, rent the house out.

    If it is no longer your primary residence (you rent it out) you have to pay it back.

    I didn't know that since we didn't participate in the program.  And if that's the case, I stand by my original statement: deal with it for a few months.  Unless there's violence or crime in your neighborhood, there's nothing about a house's location bad enough that I'd be willing to literally throw away $8k.

  • imageTarHeels&Rebels:
    Unless there's violence or crime in your neighborhood, there's nothing about a house's location bad enough that I'd be willing to literally throw away $8k.

    I totally agree.  The costs of selling (realtor/closing fees) plus the fact that you just bought a few years ago so you incurred fees there too... I just wouldn't throw all that away.  I lived by a horribly nasty neighbor for several years.  She didn't keep up her yard, pool or house and was just a mean person.  We stuck it out.  Who knows.  If you do move you could still get horrible neighbors.  That's really one thing you can't control. 

    Baby Birthday Ticker Ticker
  • I got the original HBC ($7500 loan to be repaid) and "got" to keep it when I sold my house because I lost at least that much on the sale.  If your market is like ours - you'd lose money on the sale and wouldn't have to repay it all.
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