Will the Home Buying Tax Credit Be Extended?

Will the Home Buying Tax Credit Be Extended?

Friday, November 06, 2009

If you were one of the many people trying to purchase Miami Beach homes and take advantage of the buying credit, chances are the looming deadline this month was making things considerably more difficult and stressful.  You’ll be happy to know that you can now take it a little easier; the $8000 home buying tax credit is very close to being extended if the president signs off on it.

Under the revised guidelines, the credit will no longer be restricted to first time buyers of Miami Beach homes.  Existing homeowners who’ve lived in their residence for at least five years can receive a credit of up to $6,500 dollars if and when they purchase a new home.  Additionally, military personnel will also see an extension of another year, until June of 2011.

Everything now rests on that final signature from President Obama.  If you’ve been waiting it out due to the time constraints, it may be time to start looking for Miami Beach homes again.

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