Tax credit for move up buyers? Will you be ready if congress passes it?

With the $8,000 first time home buyer ready to expire Congress is kicking around and extension. As part of that extension they are considering expanding the tax credit to also include "move up buyers". So what is a move up buyer?

According to early reports a move up buyer is going to be anyone who has lived in their home for 5 or more years. Now mind you the new bill is not final and many changes may occur. So why am I writing about this now?

I am writing this because now is the time that you should be preparing if you fit into the move up buyer category. We are still in a buyers market and this extension if it happens will probably only run until April, so if you are wanting to sell and buy another home your window will be be very short.

If you are a move up buyer here is a checklist of things to work on right now to help make your move up a reality

• Get pre-approved for new mortgage

• Interview Listing agents

• Get your home pre-inspected

• use that pre-inspection to get your home in top condition

• Research new neighborhoods

• research schools

• formulate plan with realtor to find the best homes

Propper planning now will help make your move up dream a reality. Opportunities like this do not come around often, Call The Russell Home Team now at 913-681-1383

Want to see what your move up home looks like? Click Here