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There *is* an expiration date to the 1st time home buyers tax credit

March 22nd, 2009 · No Comments · Tax credit for first time home buyers in Macomb County MI

I’ve talked to three people this past week who are semi-interested in purchasing a home and for various reasons (job security, apartment leases, wedding dates, etc) are concerned that they may miss out on the $8000 first time home buyers Federal tax credit.

Yes, there is an expiration date. When this tax credit was created within the stimulus package it was not something that was intended to be on the Federal books forever.

We have until November 30th of this year to take advantage of it.

Please remember that a first time home buyer by definition is a home buyer who hasn’t owned a home during the past 3 years.

Also remember that this credit does not have to be paid back (unlike last years credit) unless you sell the home within the first 3 years.

~Kris Wales~  A partner for your real estate needs in Macomb County MI

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