If you've been thinking about moving (like we have)... perhaps to a home with a more cake decorating friendly kitchen, now is the time my friend! Did you know about the tax credits currently available to certain Americans looking to purchase a new home? I've known about the first time home owner's tax credit for some time now, but didn't realize until very recently that current home owners who've lived in their home for at least 5 of the last 8 years may also be eligible for a credit. As much as $6,500 in fact!
Here's the catch though... you really need to act fast to benefit from this as the current deadline for qualification for this tax credit requires you have a written binding contract by the end of April and that you close by June 30th. If you're looking to move, try to have that contract signed within the next few weeks so you can qualify! Then, be sure you can close on that house before the June 30th deadline.
Naturally there are certain restrictions based on income for this real estate tax benefit, but so long as you earn no more than $125 k as an individual or $225k as a married couple you'll likely qualify. Take a few minutes to learn more about this, then sit down and do the math. Decide if perhaps this is the month you'll find that new house to build your nest in!
If you're a first time home buyer or haven't lived in a home for 3 years or more, you may qualify for as much as $8,000 in tax credit. That's just like being given free money!
Ok... that's all for now. Feel free to pick up your cake again and enjoy every last bite. Then go bake another one and give your Realtor a call!
Put Down the Cake and Learn About the Real Estate Tax Benefit!
