Tax Credit Extended for First-Time Homebuyers and Repeat Buyers

New Hampshire is great place to call home and with the tax credit incentives extended and enlarged by the government now is the time to take advatage.  The good news is that the $8000 Tax Credit has been extended for First-Time Homebuyers until April 30, 2010.   To clarify, a first time homebuyer is someone who has not owned in a home in the past 3 years.  Originally the deadline was November 30, 2009 and has been extended to buyers signing a Purchase & Sales Agreement by April 30, 2010 and closing by June 30, 2010 who are buying a primary residence.  Military working outside the US may have even longer to sign a Purchase & Sales.   In addition to $8000 credit for First-Time Homebuyers, they have also extended a similar invitation to repeat buyers.  As a repeat buyer, if you have lived in your current home for more than 5 out of the last 8 years, you will be eligible to receive a $6500 tax credit if you buy another home as a primary residence. However, there are restrictions based on age, income, price of the home, number of years you have owned or not, and the house being used as a primary residence.  You must be 18 years of age to qualify and the house must be under$800,000. There is an income limitation of $125,000 for a single person and $250,000 for a couple. Higher incomes may also qualify for a partial credit.

With house prices down and a great tax credit as incentive why wait another day? If you are looking to buy or sell in the Southern NH area give me a call or stop by and we can discuss your otpions.

Virginia Kazlouskas (Gregory), REALTOR®

Harmony Real Estate, Inc.
2 Winnhaven Drive
Hudson, NH 03051
(Office) 603-883-8840 X12
(Cell) 603-620-3428

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