Not only for first time buyers, but for everyone, there's a series of great tax credits since November 08 for solar, wind, geothermal and others, which increased from $2,000 to $7,500 if you spend $25,000. Some power authorities are refunding up to 50% of the installation cost of renewable energy, check with your local provider. I got a check for $23,000 in my hands for Solar installation only last month, and I'm now looking into geothermal. It's something you ought to be thinking about doing as soon as possible - the green houses with low fuel bills are the most desirable ones. Specifically for first time home buyers, there's an $8,000 tax refund under the new stimulus package if you buy in 2009, which I'm sure could be spent on renovation. There may be more incentives in the pipeline from the housing stimulus.... I haven't read it all yet.