Federal Homebuyers' Tax Credit Extended and Expanded
You probably heard that the first-time homebuyers’ tax credit has been extended and now expanded to include existing homeowners.
Are You Qualified for the Homeowners' Tax Credit?
Congress recently passed an extension of the $8,000 credit for first-time homebuyers. The extension now includes a provision for current homeowners to receive a tax credit up to $6,500 for buying a new home. If you have been thinking about upsizing or downsizing, building or buying; this new tax credit might just have your name on it. Below is a summary of some details:
-Vintage Township is presently matching the expanded homeowners’ tax credit, dollar-for-dollar, up to $6,500 (call 806-771-1117 for details on their Match Made in Vintage program).
-You can qualify for the expanded tax credit if your family’s annual income is $225,000 or less ($125,000 per year if you’re single). Earners with larger annual incomes may qualify for a reduced credit.
-You qualify if you have lived in your current home for five consecutive years out of the last eight years.
-You qualify if the home you are buying costs $800,000 or less.
-You qualify if the home you’re buying will be your primary residence and not a second home or an investment property.
-The $6,500 tax credit for homeowners is available NOW. It became available on November 6, 2009; the day President Obama signed the bill. The extension will end April 30, 2010.
-If you buy a home between now and December 31st, you can claim the tax credit for your 2009 taxes, or you might be able to amend your 2008 tax return (homes purchased after December 31st may affect 2009 or 2010 taxes – talk to your tax advisor).
A Match Made in... Vintage
Vintage Township has announced a one-time opportunity for qualified homeowners who take advantage of the expanded federal tax credit for homebuyers. With their Match Made in Vintage program, Vintage will match the tax credit, up to $6,500, for homeowners who have been looking at homes for sale in Lubbock and are ready to become residents of Vintage Township. If you’ve been waiting for an opportunity make the move to Vintage, this could be the perfect time to do it. Please call and ask about available homes or available lots on which to build your new dream home. This is for a limited time.
Why Wait?
You can contact Vintage Township by calling 806-771-1117 and talk to Tana. Or you can email by writing to info@vintagetownship.com. If you want to see some available Vintage homes for sale in Lubbock, you can visit their web site, www.vintagetownship.com. The web site also offers a glimpse and a taste of Vintage Life.
