UPDATE (NOV. 5, 2009): Read this for information about the newly extended and expanded $8,000 home buyer tax credit which is is open to more than first time homebuyers and extended to May 1, 2010.

 

With more positive signs in the economy and the Boston real estate market being reported in the news lately, you may now be giving more serious thought to buying a new home or condo in Boston this year.  Since you may be eligible for the $8,000 first timehome buyer tax credit, I just wanted to make sure you had all the facts about it with a quick post (there's been some confusion lately specifically with the expiration date).  To clarify:

In order to take advantage of the $8,000 first time home buyer tax credit, you must CLOSE and take ownership of your new home by November 30, 2009 (not December 31st as many people think).

Since it typically takes 45-60 days to close on a new Boston condo or home from the point when you identify a property to buy, I suggest getting started in your search soon to give you adequate time to search for the right home.  Unless you're a last minute type like me who really likes to rush things, of course!

For full details of the tax credit (including eligibility requirements), please see How the First Time Home Buyer Credit Works

You can contact me directly with any questions by email or by commenting below.