First time home buyer tax credit: Driving some market share
Posted by DreamsandFacts.com in InterestingWhen our housing market is strong our nation’s economy will become strong right behind it. The government realizing this has taken steps to boost the housing market out of it’s standing still pattern. The government is offering tax incentives in the form of tax credits to home buyers. You may be surprised at who all can qualify for this incentive program. If you have not owned a home for the past 3 years or if you are a first time home buyer you may qualify for a first time home buyer tax credit. If you have lived in your current home for the past 8 years consecutively then you may also qualify for a $6,500 tax credit. This group will include a lot of family homes. When our families grow we find ourselves looking for a larger home and as our kids move out we find ourselves wanting to downsize our homes. That makes this a really big market of potential home buyers. This tax credit program ends in April so you have to have a written contract on the home you have chosen before the deadline to be able to take advantage of the tax credit incentive program.
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