Please consult your tax adviser about your specific situation. Here is an answer in the Q&A about the first-time homebuyer credit to consider from the IRS web-site:
"S8. A qualifying taxpayer bought a home in August 2008 that
needed a lot of work before occupying. They finished the renovations
and moved in the home in January 2009. Can they claim the $8,000, since
they did not occupy the home until 2009?"
"A. No. Taxpayers who purchase an existing home and renovate the
property before moving in are eligible for the first-time homebuyer
credit based on the date of purchase, not the date of occupancy."
If you look closely to this answer you see that you must be eligible for the credit on the date you purchase the property. It also says that "taxpayers who purchase an existing home and renovate the property before moving in are eligible for the first-time homebuyer
credit . . . ." Note that this Q&A is meant to show whether a taxpayer was eligible for the $8000 tax credit for 2009 purchases as opposed to $7500 tax credit for 2008 purchases.