What’s the first step on the road to homeownership? Saving your money. And now, thanks to a new law in Alabama, building up your savings account just got easier. First-time homebuyers can now create a tax-free savings account to be used towards the purchase of their first home. That’s right, tax free! This new resource in Alabama is exclusively for first-time buyers or those reentering the housing market if you haven’t owned a home in the last 10 years.