Home Buying in Massachusetts>Question Details

Rob Landry, Home Buyer in Massachusetts

If you purchase a investment property I.E rental property in 2009, do you qaulify for the 8,000 tax credit or

Asked by Rob Landry, Massachusetts Tue Mar 10, 2009

does the residence have to be your primary residence?

Help the community by answering this question:



the tax credit applies only to the first time home buyers ( people who buy for the first time or did not own a home for 3 years) if they buy a property which is going to be their pirncipal residence. If you stay in the home for at least 3 years, you don't have to repay it.

Thank you.
0 votes Thank Flag Link Tue Mar 10, 2009
Hi Rob

Dana is correct, the tax credit is for any single family residence (including condos, co-ops, and townhouses) that will be used as a principal residence. I do have a PDF file with the Modified American Recovery and Reinvestment Act that gives all the details and changes from last years credit package vs. the new one. Please feel free to contact me if you would like that sent out.

Best Regards,

Joshua Lioce, Broker/Owner
Realty Executives Lioce Properties
Team Leader - The Lioce Team

(508) 422-9750
Web Reference: http://www.lioceteam.com
0 votes Thank Flag Link Tue Mar 10, 2009
The tax credit only applies to first time homebuyers purchasing their primary residence. if you live in the house for 3 years it does not have to be paid back.
0 votes Thank Flag Link Tue Mar 10, 2009
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