AÂ “tax credit” is a dollar for dollar reduction in your taxes which puts real money right back in your pocketÂ – and if you qualify you could save up toÂ $8,000!
To qualify you must meet certain requirements and must close on your new home before April 30th 2010.
What’s new this year,Â is that repeat buyers can also take advantage of this new tax break. Last year the credit was only for first time buyers. (New buyers can qualify for up to $6,500.)
We have a National Association of Realtors PDF brochure that explains how this works – if you’d like us to email you a copy just email us here at Condo Metropolis.