Great news for all the first time homebuyers and now, even the homeowners who wish to move on! The federal income tax credit for homebuyers has just been extended. But now, they have also lengthened it to take in homeowners who desire to "move on" after 5 years of living in the current property they reside. It’s an offer you really can’t ignore guys.
What benefits can you get from this home buyer tax credit? Well for the first time homebuyers or those who haven’t owned in the last three years, they can receive up to an $8,000 tax credit! That’s already a big amount to help you start a new productive life. And for the homeowners who have lived in a present home successively for 5 of the last 8 years, they can receive up to a $6,500 tax credit! They’ve also increased the income caps to $125,000 for singles and $225,000 for married couples with a $20,000 phase-out of the credit for both.
This move by the government will not only benefit the homebuyers but this is also a good thing for the economy. Why? Because according to statistics, every time a home is sold, it creates one job over the next 12 month period and approximately $60,000 goes in to the local economy. Housing is really vital to the economy. For more details about this excellent offer, you can watch the short video below. It’s time for home hunting guys!
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