Home Buyer Tax Credit Benefits Buyers in the Luxury Real Estate Market

Posted by Elizabeth on March 18, 2010

Regardless of whether you’re just beginning your new life, or you’re ready to continue the next stage of your life in a beautiful home your grandchildren can visit- you want the best for your family.

Purchasing a home is a big decision and you may have reservations, which is normal.  Here are some honest answers on what to expect when buying a home.

How the Tax Credit Benefits You
Who is eligible to claim the $8,000 tax credit?
First-time home buyers purchasing a home are eligible for the tax credit.  The home must be in a binding sales contract on or before April 30, 2010.  After April 30^th you have until June 30^th to complete the purchase in full.
Your home simply needs to be under contract by April 30^th.  After the contact you still have time to relax and take time in choosing which luxury amenities you’d like in your home.

Not a first time home buyer?
A $6,500 tax credit for repeat homebuyers is also available to those eligible who buy a principal residence on or before April 30^th. The tax credit also applies to eligible purchases made by June 30 when a binding sales contract is signed by April 30.

Why Buy?
There is no better feeling than the pride of owning a custom home.

• Owning your own home allows you to enjoy a relaxing summer night with family and friends on your own patio, watch your children play on the swing set you built them, paint your walls any color you’d like, and decorate your home exquisitely.
  Home ownership gives you and your family a sense of stability and security. It’s making an investment in your future in more ways than one.   
• Mortgage Interest Deductions
  Tax rates favor homeowners.   Maintaining a mortgage balance less than the price of your home, makes your mortgage interest fully deductible on your tax return. Interest is the largest component of your mortgage payment. 
• Mortgage Reduction Builds Equity
  Each month, part of your monthly house payment is applied to the principal balance of your loan, which reduces your debt and builds your home’s equity. 

The St. Louis Luxury Real Estate Market
Not only does the tax credit allow home owners to purchase the home of their dreams, Fischer and Frichtel has lowered the prices of their custom, luxury homes.  Owning a custom home has never been easier, and never again, will a buyer benefit from so many opportunities.  This is truly a once in a lifetime opportunity.

Owning a home in St. Louis
St. Louis’ character and charm arises from its neighborhoods, which cultivate a connectedness among communities that is rare today among metropolitan areas.
St. Louisans develop an affinity to their close surroundings; be it their parish, timeless restaurants, beautiful scenery, or close-knit neighborhoods.  The city welcomes people with open arms and is an ideal place to raise a family.