Comments on: Buy a House for the $8,000 Tax Credit? http://www.greenpandatreehouse.com/2009/09/buy-a-house-for-the-8000-tax-credit/ Personal Finance for College Students and New Graduates Thu, 02 Feb 2012 14:14:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: SPENDonLIFE http://www.greenpandatreehouse.com/2009/09/buy-a-house-for-the-8000-tax-credit/comment-page-1/#comment-38114 SPENDonLIFE Fri, 11 Sep 2009 16:00:37 +0000 http://www.greenpandatreehouse.com/?p=5459#comment-38114 <strong>Friday Grab Bag - 9/11/2009...</strong> It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! Here we share some of the week's more interesting tidbits from the world of credit, debt, and identity theft. Enjoy!... Friday Grab Bag – 9/11/2009…

It’s Friday again, and that means it’s time for the weekly SpendOnLife grab bag! Here we share some of the week’s more interesting tidbits from the world of credit, debt, and identity theft. Enjoy!…

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]]> By: Stephanie http://www.greenpandatreehouse.com/2009/09/buy-a-house-for-the-8000-tax-credit/comment-page-1/#comment-38040 Stephanie Sun, 06 Sep 2009 15:02:40 +0000 http://www.greenpandatreehouse.com/?p=5459#comment-38040 I am not a homeowner, but I've got a few thoughts on this as well. When I heard about the tax credit, it got me thinking about buying a house. But then I realized, I'm not ready for a house! I still am in "paying off student loans mode", and, even though I have some savings and a decent credit score, I don't feel financially ready to get a place. Personal situation aside, the money you get is sort of free money, but it only constitutes a tiny drop in the bucket when you look at the long term money impact. $8k for a $250k house is approximately a 3% discount on the house. But that's not considering the full amount you'll pay over the life of the loan. It makes me think of people getting the store credit card to get 10% off their purchase...except it's even less of an impact. If you were planning on buying a house anyway, then the $8k is pretty awesome. But if you're nowhere near buying a place (emotionally/personally or financially), it's just a temptation that you need to ignore. Yep, that whole "free money" thing really gets us...thanks behavioral economics! I am not a homeowner, but I’ve got a few thoughts on this as well. When I heard about the tax credit, it got me thinking about buying a house. But then I realized, I’m not ready for a house! I still am in “paying off student loans mode”, and, even though I have some savings and a decent credit score, I don’t feel financially ready to get a place. Personal situation aside, the money you get is sort of free money, but it only constitutes a tiny drop in the bucket when you look at the long term money impact. $8k for a $250k house is approximately a 3% discount on the house. But that’s not considering the full amount you’ll pay over the life of the loan. It makes me think of people getting the store credit card to get 10% off their purchase…except it’s even less of an impact.

If you were planning on buying a house anyway, then the $8k is pretty awesome. But if you’re nowhere near buying a place (emotionally/personally or financially), it’s just a temptation that you need to ignore. Yep, that whole “free money” thing really gets us…thanks behavioral economics!

]]> By: Green Panda http://www.greenpandatreehouse.com/2009/09/buy-a-house-for-the-8000-tax-credit/comment-page-1/#comment-38014 Green Panda Fri, 04 Sep 2009 21:45:12 +0000 http://www.greenpandatreehouse.com/?p=5459#comment-38014 Yes, thanks for the eagle eye Jim! It's ready now. Yes, thanks for the eagle eye Jim! It’s ready now.

]]> By: jim http://www.greenpandatreehouse.com/2009/09/buy-a-house-for-the-8000-tax-credit/comment-page-1/#comment-37888 jim Mon, 31 Aug 2009 16:43:09 +0000 http://www.greenpandatreehouse.com/?p=5459#comment-37888 Did this post get prematurely cut off? Did this post get prematurely cut off?

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