There has been a lot of focus on the $8000 home-buyer credit for people buying their first home or for someone who has not bought a home in 3 years. But there has been little fanfare for the other home buyer credit also available.
The $6500 home buyer credit is perfect for the move up or scale down buyer. The Baby Boomer will never find a better combination of events that allows for selling the big house where you raised your family and scaling down.
Maybe it is moving from a 2 story to a 1 story or getting a home without a pool or big yard. Possibly selling a single family home and moving to a townhome or zero-lot home.
Not only do you get to take advantage of the $6500 tax credit but interest rates are still at historic lows (but moving upwards) as well as home prices at historic lows.
As always, there are rules to this buyer credit, income limits and time frame April 30 (to be under contract and closed by June 30). Don’t let this wonderful once in a lifetime opportunity pass you by.
Written by Mary Beth Harrison
Related Articles:
The Tax Credit is Fueling the Dallas Area Pre-Owned Home Sales
2 Million Americans Expected to Take Advantage of Extended, Expanded Homebuyer Credit
First Time Home Buyer Tax Credit
Obama Signs Homebuyer Tax Credit Extension
{ 1 trackback }
{ 1 comment… read it below or add one }
The informal post assited me a lot! Bookmarked the site, extremely excellent topics everywhere that I see here! I appreciate the info, thank you.