I PLAN ON PURCHASING A HOME WITHIN A COUPLE OF MONTHS IN FLORIDA , CLEARWATER, LARGO AREA. I PLAN ON USING MY INCOME FROM THE STATE I LIVE IN NOW NEW YORK. ONCE I PURCHASE THE HOUSE I DO NOT PLAN ON MOVING RIGHT AWAY, MOST LIKELY WITHIN THE YEAR. THIS WILL BE THE FIRST HOUSE I EVER OWNED, WILL I BE INTITTLE TO THAT NEW CREDIT FOR FIRST TIME HOME BUYERS?
I was a tax preparer in my former career. If you are not working with a Realtor, I would be glad to meet you and discuss the tax ramifications of home ownership. I specialize in the Clearwater/Largo/Seminole area.
Martha Vasquez
Realty Resources
(727) 244-9404
Hi Kathy -- There's quite a bit of information on this website about the new tax credit: http://www.federalhousingtaxcredit.com/
Hope this helps. Good luck and Happy House Hunting!
Louise Warring
Coldwell Banker Residential Real Estate
The rules for the First Time Home Buyer Tax Credit states that it has to be for a Primary Residence. Here is some language from the bill.
"Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats."
Sincerely,
Jeff Launiere, P.A.
Keller Williams Realty
Real Estate Consultant
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813-469-3163 (Direct)
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