One of the questions that I was recently asked by a Macomb County caller was if the 1st time home buyer tax credit could be used with the purchase of a condo and not a single family home.
The answer is a resounding yes. A condo is a home. Just because there are common areas within a condominium complex does not make it less of a home for the owners.
One of the areas of Macomb County that is showing some real affordability for first time home owners is Shelby Township. There are currently 21 condos on the market in this northern Macomb County township priced under $80,000. Many of these condos also would qualify for FHA financing.
**Please remember the (up to) $8000 first time home buyer tax credit has an expiration date. You must close on the purchase of your new home by November 30th of this year. Plan ahead please - we are now experiencing approximately 45 days from contract to closing. I expect that time frame to increase as we head into fall.**
~Kris Wales~ A partner for your real estate needs in Macomb County MI
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