People buying newly built homes in California may be eligible for a substantial (at least to me) tax credit over the next few years. According to Lauren Beale in the Los Angeles Times, the CA state government is considering giving residents who purchase previously unoccupied houses up to $10,000 over three years.
For those of you out there shopping for newly built homes, that state tax credit of up to $10,000 for buyers starts Sunday.
The credit applies to purchases that close by March 1, 2010, or until the $100 million runs out, according to details released today by the California Building Industry Assn. The amount of the credit is based on the purchase price — 5% of the sales price or $10,000, whichever is less.
The US federal credit would be nice (we’re not eligible, I fear), but up to $10K more would be even nicer. Sigh. Regardless, I’m still very happy about the plans to move into our brand-spanking-new place in the next couple of months. (By the way, following local trails along the neighborhood creeks, I ran from The Rental to the new site this morning. It was a light 30-min outing, with a long pause in the middle as I visited with the crew at the site.)
Link to the story.