Serapion

Thinking about purchasing your first home? You may qualify for a first time homebuyer’s tax credit of $8,000 (or more), if you purchase your main home before April 30th 2012. This tax credit has been in existence since 2009 and has been a very popular tax credit that many home buyers have taken advantage of in droves.

To take advantage of this tax credit you should contact your local IRS office or tax preparer immediately to see if you qualify before this tax credit becomes history.

How to Save Money on Your Home Loan

Before investing money in your new home make sure that you don’t sign up for multiple high interest loans because these loans can cost you tens of thousands of dollars more over time and are very hard to repay.

To find the home loan that’s right for you, spend at least one hour searching the internet for the best online loans that have the lowest APR. Once you find the right home loan company the next step is to research the company online and make sure that they are a reputable lender. Many home buyers will use the internet to post comments about their banks or lenders to save other potential home buyers the trouble and heart ache of getting involved with the wrong company. The wrong loan can follow you all the way to your retirement planning, so it’s best to be careful.

Make Your Home Energy Efficient

Once you purchase your home and have the keys in hand, your first step should be to make your home energy efficient. You can do this by following this simple checklist:

• Check all doors and windows – Verify that they have been recently caulked or re-painted. This will keep out drafts and also keep warm air or cold air from escaping your home during the summer or winter months.
• Replace all light bulbs – Always use energy efficient light bulbs over traditional bulbs. This step will save you at least 20% or more off your energy bill and also reduce your carbon footprint on the environment and do your part to save the earth.
• Inspect wood flooring – If you’re living in a home with one or more wood floors, you should inspect those floors and either re-seal them or replace them.
• Replace old two prong wall sockets – Older sockets are typically more than 30 years old and besides not being energy efficient, they are also hard to use because, they are not compatible with the average power cord in this day and age.

Filed under: Tax Tips