Posts Tagged home tax incentives

Tax Incentives For Buying A Home: What They Are!

Thursday, August 6th, 2009

Tax incentivesLooking for a new home for the price that you want is a hard task.  However, it is not impossible and one of the main reasons is that there are a ton of different tax incentives going on right now.  The housing market is in deep trouble, with no one purchasing homes and so many homes going into foreclosure, it makes it extremely difficult for real estate agents to really make a living.  However, with all of the tax incentives that are being offered up now – home owners are more opt to purchase.

However, if you are a home buyer that is looking to purchase a new home, you need to know about all of the tax incentives out there so you can take advantage of them right?  The firs tone is going to be a tax break on select properties of about $8,000.  This is a tax incentive that you do not have to pay back to the government, which makes it that much better.

Another tax credit in the state of California is that the government is adding on – in addition to the $8,000 they are offering up another 5% tax credit to some home buyers, that means you can get a tax credit of about $18,000 – which is a lot of money!