| Buying a new home in California can be an exciting | | | | three years in a row of 3,333 dollars. It is best to |
| purchase especially if it is a first home because the | | | | apply early because the state only can give a |
| government will offer a homebuyer tax credit to help | | | | maximum of 100 million dollars. |
| out their residents. It is applied when income taxes | | | | Other requirements must be met such as the |
| are due. To better explain this, the rest of this article | | | | purchase must be a single unit like a detached home |
| will go into further detail. | | | | or condominium. The applicant must be eligible for the |
| For anyone interested in a new home, they know | | | | California homeowner property tax, and they have to |
| how expensive it all costs. It is exciting to know that | | | | live in the unit for two years. |
| California provides incentives to purchasing by giving | | | | Purchasing a first home in California is great for |
| tax credits and grant money. Grant money will be | | | | buyers because there are many opportunities to |
| given to help pay for closing costs and the down | | | | save money. There are these tax credits and grant |
| payment. | | | | money. Grant money can also be obtained from the |
| To know what one needs to apply, they need to | | | | federal government. There are many websites to |
| purchase a home between May of 2010 and January | | | | choose from with plenty of information. Speaking to |
| 2011. This means the escrow must be closed in this | | | | government agents can also be helpful to speed the |
| time frame. The amount they get credit for is the | | | | process if finding out the right information. Certain |
| lesser of five percent of the price of the house or | | | | requirements must be met so it is good to have |
| 10,000 in dollars. Therefore, the tax will need to filed | | | | someone advise on these topics. |