$10,000 California New Home Tax Credit
March 11th, 2009 categories: New Homes Roseville, Real Estate News
Everyday it seems like buying a home gets better and better. Now California is throwing in an extra $10,000 to buyers who purchase a new home after March 1st 2009. This is an incredible incentive to buyers in this market! Before the credits were tied to being a first time home-buyer, and meeting certain income requirements. Not now…this current credit applies to any new home buyer planning to use this new home as their principal residence for at least two years. There are minimal requirements to receive this credit. There are a few key things to know about the credit:
1) It does not have to be paid back.
2) It will be paid to the tax payer over three years. $3333.33 each year.
3) It must be your principal residence for at least two years.
4) The money is not unlimited. There is $100,000,000 allocated for this credit. It will run out. You can see how much money is left by visiting:
http://www2.ftb.ca.gov/individuals/New_Home_Credit.shtml#def2
If you are planning on purchasing a new home call us asap to take advantage of all the incentives out there for buyers. This state credit is in addition to the many unbelievable credits the builders are offering as well. We would love to share with you how to find the best deals on new homes.
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