If you’re looking to buy your first home, you’ll be happy to know that the First Time Home Buyer Tax Credit has been approved to run until April 30 2010. This means that the credit has been extended and that  many first time buyers will be able to use it in order to save a significant amount of money. The credit is actually applicable to both first time buyers as well as anyone who hasn’t owned a home in the past three years.

The credit is worth up to $8,000 and so it’s a major incentive for people to enter the market, which of course stimulates the economy. Those that may be weary about entering the market should be aware that prices are going to rise as the economy recovers, and so now is the time to enter the real estate market. This is especially true given the savings available through the tax credit that is being offered.

There is a very in depth video on this topic that explains more details concerning the tax credit. It also goes over the benefits to the economy, and how real estate has played a major role in the recovery from past recessions. It’s quite an interesting video, so feel free to enjoy it below: