Housing Tax Credit Now Open to More Home Buyers
By: David Werschay, Werschay Homes, Inc.President, Central Minnesota Builders Association
If you’ve been thinking about buying a home, and weren’t eligible for the first-time home buyer tax credit, here’s some good news: the housing tax credit has been expanded and extended.
President Obama signed into law the Worker, Homeownership, and Business Assistance Act of 2009, which enables many more Americans to take advantage of new government incentives to buy a home. In fact, the National Association of Home Builders (NAHB) estimates that close to 70 percent of all potential home buyers should now qualify for some form of the housing tax credit.
Congress has extended the time limit for the first-time home buyer tax credit, added repeat buyers and increased the income limits! Home buyers that didn’t qualify before may be eligible now, providing a great opportunity to market to higher-income or move-up buyers. Use these print ads, flyers, Web banners and other resources to let consumers know that buying a new home right now is the opportunity of a lifetime. NAHB’s consumer Web site will answer detailed questions: www.federalhousingtaxcredit.com.
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Hopefully this tax credit extension will encourage a lot more people to buy and even build new homes. Building new homes would also create more jobs (plumbers, carpenters, ect.)