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Article: Savings level, not tax incentive, should drive decision to buy home
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- September 27, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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This spring, Emily Judd, 31, made an offer on a fixer-upper in
Quincy, hoping to take advantage of the soon-to-expire $8,000
federal tax break for first-time home buyers.
The seller accepted her offer, but the deal later fell apart.
Rather than plunge back into the market, Judd, who does marketing
for a Brookline assisted-living facility, decided she could use some
professional advice. So she applied for a Boston Globe Money
Makeover.
"I feel a home is the way to plan for my financial and familial
future," she said. And with the federal tax credit set to expire
Nov. 30 and home prices yet to recover from the recent market rout,
she figured she couldn't afford to dawdle.
But when she sat down ...