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$15,000 for You!
February 5th, 2009 |
asheville custom homes |
indygraphics |
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Well it took a bit longer to get here than I had thought ( what was i thinking? It’s DC speed!) but last night the Senate passed the Isakson amendment to the stimulus/spending bill ( http://www.bizjournals.com/atlanta/stories/2009/02/02/daily76.html) .
What’s the Isakson amendment, you ask? Just the first major step towards actually dealing with the housing situation. It offers 10% of the purchase price of a home, up to $15,000, as a tax credit for the purchase of a primary residence during the twelve months following passage of the bill.
What does that mean for you, building your new home? Well it may eliminate the bulk of your Federal tax burden. Not bad, you think. Couple that with extremely low mortgage interest rates, stable low material costs and quality labor availability and what do you get? Your Dream Home!
But like all good things there will be a small window of opportunity. As soon as building starts to recover costs will respond to the demand by increasing, good labor will get booked up and interest rates will head back to higher, more realistic numbers.