Clark L asked:
I am planning to buy a vacation home in out state. Now will I be consider as first time home buyer if I never own a house in my state?
Will I qualify for first time home buyer credit even though I am buying out state home?
Edward
I am planning to buy a vacation home in out state. Now will I be consider as first time home buyer if I never own a house in my state?
Will I qualify for first time home buyer credit even though I am buying out state home?
Edward
Larry
No it doesn’t count. Only a primary residence is eligible.
Comment by Professional Peon — August 9, 2009 @ 11:39 pm
Don
No.
In order to receive the credit, you must live in the home that you purchase for at least 3 years. Vacation (2nd homes), do not count.
Comment by Wayne Z — August 12, 2009 @ 11:15 am
Calvin
I do not believe that vacation homes qualify for the credits unless you are currently living in an apartment or rental property and the vacation home is considered your first home purchase.
Comment by Mrs Moose — August 13, 2009 @ 12:45 am