Home Owners Would Spend Tax Credit Wisely

Home Owners Would Spend Tax Credit Wisely

A survey of homeowners by Coldwell Banker Real Estate found that 20 percent said they were more likely to consider purchasing a new home after learning about the $6,500 tax credit than they were six months ago.

Of the more than 1,000 homeowners surveyed, 83 percent said that if they were to purchase a home and qualify for the tax credit, they would pay off debts, make home improvements, add it to savings or use the money for household expenses.

Only 6 percent said they would spend the money on a luxury item like a vacation or a shopping spree.

Source: Coldwell Banker Real Estate (12/16/2009)