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Jeff McIlhenny Beacon Brokers Realty Cell: 843-452-2953 jeffm@beaconsc.com www.ourfirstcharlestonhome.com

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12 Month Wedding Planning Checklist
Download Your Copy Of This Helpful Planning Checklist!

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Your ceremony was beautiful. The reception was a blast. Memories of a lifetime were created and shared.

All of your time, planning and hard work paid off and you're officially married. Congratulations! You can now start your new lives in a place you'll call HOME.

Maybe this will be the first house you have purchased. Maybe you have a house (or two) you need to sell. Whether or not this is your very first house, it will be your first house TOGETHER.

I built this website to help you live that dream. The dream of home ownership.
I am a Charleston SC Realtor that specializes in working with Newlywed Homebuyers, and I also specialize in working with first time homebuyers.

This site is loaded with tips, suggestions, and reports that will give you real information about buying your first home in the greater Charleston SC real estate market. Be sure to check back, as this site will be updated with more information and resources for Charleston SC area newlywed homebuyers!

IMPORTANT CONSIDERATIONS FOR CHARLESTON SC NEWLYWED HOMEBUYERS

Two big factors that should be taken into consideration for any Newlywed Homebuyers in 2009:

$8000 Tax Credit: Uncle Sam is offering an $8000 tax credit for first time homebuyers that purchase a house by December 1, 2009. Unlike the previous $7500 tax credit, this is not an interest free loan and does not need to be paid back. See more details below!

There is also a way that you can use this money as a down payment or to help pay for your wedding--ask me for more details!

$11,000 Tax Free Gift: By law, each parent can gift up to $11,000 to each child once a year without either parent or child having to pay taxes. Simply put, this could mean up to $44,000 for a newlywed couple to apply towards a down payment!

*I am not an accountant, nor did I stay at the Holiday Inn last night--be sure to discuss these items in greater detail with a CPA and mortgage consultant to see how they might apply

WHEN TO GET STARTED

It is probably best to not and try to take on too much at once--planning a wedding involves a lot of running around, planning, and stress. Trying to find the right home and close on it can also be hectic, time consuming, and stressful. No way should you attempt both at the same time, especially if you have a house or two to sell.

Whether you buy a home in Charleston SC first, or get married and then buy the home is up to you. I will be happy to discuss the process with you to help determine what might be the best plan of action.

Simply leave your contact info below, and I can get in touch to learn more about your situation. I can have listings from the Charleston SC MLS sent to your mailbox so that you can become familiar with homes for sale in the greater Charleston SC real estate market. I can also get you in touch with a mortgage loan officer to discuss mortgage pre approval.

No matter if this is your first home purchase, and no matter where in the process you are, I can help you with the entire process. My style is relaxed, and not high pressure--we will work at your own pace. I understand that before you are ready to buy a home in Charleston SC, you have to get ready first.

I will be in touch soon, and if you are a first time buyer I will sign you up for my FREE weekly first time homebuyer e-newsletter. For those relocating from out of town, be sure to ask for my online Relocation Package!

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^*Currently Working With A Realtor?	Yes No
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Download your free copy of my
"Newlywed Homebuyer Survival Guide"
full of helpful information
about the homebuying
process, credit, applying
for a mortgage, and
the pitfalls to avoid!

$8000 First Time TaxCredit Info For Married Couples
The American Recovery and Reinvestment Act of 2009 provides a tax credit for first time home buyers in 2009. The $8000 tax credit differs from the $7500 credit from last year because it does not have to be repayed. This is also a true tax credit, and not a tax deduction. That is, it is a dollar for dollar reduction in what a taxpayer owes. Here are the basics of the tax credit, as well as how it impacts and applies to newlyweds and couples getting married in Charleston SC. The credit applies to first time home buyers that purchase a home between January 1, 2009 and December 1, 2009. A first time homebuyer is not only someone that has never purchased a home before, but also anyone that has not had ownership in a home in the last 3 years. This credit is only applied to purchases of primary residences. Income limits: for individuals, $75,000/year and married couples $150,000/year jointly. There is a range where the credit will be proportionally less according to income. For individuals, this range is between $75,000 and $95,000. For married couples, this range is from $150,000 to $170,000. For individuals making over $95,000 a year and married couples making over $170,000 jointly, there is no tax credit. There is no reapayment on the credit if you stay in the home for a minimum of 3 years. The credit is 10% of the value of the home up to a maximum of $8000. Because this is a tax credit, it is possible to be refunded up to the full amount. If a tax payer owes $2000 in taxes, then they would instead see a refund of $6000! For married couples, the law looks at both parties individually but affects the couple as one. In other words, if you have not owned a home (primary residence) in the past 3 years but your spouse has, then neither of you qualify for the tax credit. It might be best for an engaged couple to buy a home in Charleston SC first, before getting married to take advantage of the tax credit. You could even use the money to help pay for the wedding! It is possible to use the credit as a down payment (by adjusting withholdings), but it is important that you speak with an Accountant to ensure that this is done properly. *5/15--FHA has now allowed this tax credit to be used at closing for Down Payment!!!!** If you have already filed your tax returns for 2008, you can go back and amend your taxes and still receive your tax credit, as opposed to having to wait until next years taxes! Be sure to contact me for any questions you have, and to ensure you plan your first home purchase as carefully as you do your wedding day!

$8000 First Time TaxCredit Info For Married Couples

The American Recovery and Reinvestment Act of 2009 provides a tax credit for first time home buyers in 2009. The $8000 tax credit differs from the $7500 credit from last year because it does not have to be repayed.

This is also a true tax credit, and not a tax deduction. That is, it is a dollar for dollar reduction in what a taxpayer owes.

Here are the basics of the tax credit, as well as how it impacts and applies to newlyweds and couples getting married in Charleston SC.

The credit applies to first time home buyers that purchase a home between January 1, 2009 and December 1, 2009. A first time homebuyer is not only someone that has never purchased a home before, but also anyone that has not had ownership in a home in the last 3 years.

This credit is only applied to purchases of primary residences.

Income limits: for individuals, $75,000/year and married couples $150,000/year jointly. There is a range where the credit will be proportionally less according to income. For individuals, this range is between $75,000 and $95,000. For married couples, this range is from $150,000 to $170,000. For individuals making over $95,000 a year and married couples making over $170,000 jointly, there is no tax credit.

There is no reapayment on the credit if you stay in the home for a minimum of 3 years.

The credit is 10% of the value of the home up to a maximum of $8000.

Because this is a tax credit, it is possible to be refunded up to the full amount. If a tax payer owes $2000 in taxes, then they would instead see a refund of $6000!

For married couples, the law looks at both parties individually but affects the couple as one. In other words, if you have not owned a home (primary residence) in the past 3 years but your spouse has, then neither of you qualify for the tax credit.

It might be best for an engaged couple to buy a home in Charleston SC first, before getting married to take advantage of the tax credit. You could even use the money to help pay for the wedding!

It is possible to use the credit as a down payment (by adjusting withholdings), but it is important that you speak with an Accountant to ensure that this is done properly.

***5/15--FHA has now allowed this tax credit to be used at closing for Down Payment!!!!****

If you have already filed your tax returns for 2008, you can go back and amend your taxes and still receive your tax credit, as opposed to having to wait until next years taxes!

Be sure to contact me for any questions you have, and to ensure you plan your first home purchase as carefully as you do your wedding day!