Posts: 21
Registered: ‎05-26-2011

First Home

I was wondering if this is a good time to buy a home? Are their new taxes in 2013 that will hurt home owners?






Thanks in advance

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007

Re: First Home

There are new taxes for homeowners in 2013 but it applies to selling your home and not to buying, and those who had short-saled or were foreclosed upon will see a higher tax burden as that forgiveness is seen as income and becomes taxable beginning January 1.


IMO, it's a good time. DW and I applied for our first home in early December a couple of years ago, signed a contract on a home on Christmas Eve,  and closed at the end of January. It was a better time because there were less buyers, more attention with the lender, and there were plenty of homes on the market at that time and we leisurely shopped until we found our home.

New Member
Posts: 16
Registered: ‎10-09-2013

Re: First Home

You should buy house as early as possible because with every passage of time property prices rise. 

So early buying is better. 

Super Contributor
Posts: 6,335
Registered: ‎07-03-2007

Re: First Home

godzooki wrote:

I was wondering if this is a good time to buy a home?  i think so....     Are their new taxes in 2013 that will hurt home owners?  not aware of anything about new taxes on home buyers.






Thanks in advance

rates are at an all time low.


* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
New Contributor
Posts: 72
Registered: ‎09-25-2013

Re: First Home

[ Edited ]

I am wondering the same thing.  But this time of year there is a lull in housing; well at least NJ.  Most people do not want to move, especially if they have kids since they started back to school.  Furthermore, most people are starting to concern themselves with the holidays, decorating, family dinners etc. SO at this time it is not so great to be a seller, but wonderful to be a buyer.  Best of all, rates are very low and the fed is not moving on its "quanitative easing" policy (I doubt) before the end of the year.  So it would be wise to get your credit to the best it can be and start looking.  Their loss is our gain!

Starting Score: 525
Current Score: FICO EQ 790, TU 696, EX 683
Goal Score:
700+ across the board

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+