Buy it in 2010, Claim it for 2009

There's great news for anyone buying a home in 2010 and utilizing the home buyer tax credit.

You can buy a home in 2010 and still claim it on your 2009 taxes so you get the tax credit early. According to the IRS website: “For all qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns”.

With this option, you can now count on an extra $8,000 that comes with your new home if you're a first time home buyer, or $6,500 if you're an existing homeowner who has lived in your home for more than 5 year.

So don’t hesitate too long, as this tax credit won’t be extended again, so start looking today.