More details on savings on newly built homes for first time home buyers

The information is coming out quickly on this.  Here a couple of key points to know:

1. Of course, this only applies to newly built or substantially renovated homes.
2. This only applies to offers accepted on or after February 21, 2012.  If you already have an accepted offer, you do not qualify.
3. The savings is equivalent to 5% of the home price, up to a maximum savings of $10,000.
4. If the combined annual income of the couple of single purchaser exceeds $150,000, the savings starts to get smaller.
5. The savings are not at time of purchase, but will be in the form a tax refund when you file your annual taxes.

If you have more questions, please click here to read the details straight from the government.  As well, feel free to give us a call.

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