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Real Estate Blog & Resources

Building on Your Own Land? There's a Tax Credit for That!

Home Buyers to Get Additional $6500 Tax Credit

As we have talked about before, first time home buyers have been getting tax credits of up to $8,000 when they buy a new home. That program, as part of the economic stimulus package, was set to expire at the end of this month, the end of November 2009. The United States Senate voted on Wednesday November 4, 2009 to expand and extend the tax credits for home buyers. The United States House of Representatives voted on the bill on November 5, 2009, and the President Obama is expected to sign it into law today, November 6, 2009.