What a great opportunity for Home Buyers. And yes, this credit is for building a new home as well as buying an existing home. Check out this information at: www.federalhousingtaxcredit.com and start planning your new TrussMark Home. This is the perfect time and a great incentive. Below is a “Frequently Asked Question” taken from the website.
Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
Yes, For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been “purchased” on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and before December 1, 2009.
In contrast, for newly constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.
Filed under: Packaged Homes & Plans | Tagged: Credit, Home, Tax
