Three is the Magic Number to Re-Realize Your Dreams of Baton Rouge Homeownership

Three is the magic number for homeowners who want to claim the $8,000 tax credit for buying their new home. That's the number of years it must have been since you owned your last home to qualify for the credit. If you owned a home in the past, as long as three years have passed, start shopping! The new credit will give you an $8,000 head start.

The first time homebuyer's credit sounds like it only applies to you if you are 25 and looking for your starter home. In reality, it can apply in any of these scenarios:

• When you retired a few years ago, you moved to an apartment. You want to be homeowner again. Go for it!
• You moved to Prairieville a few years ago from up North. You weren't sure where in the Baton Rouge area you wanted on locate, so you've been renting a place ever since. You know more about the area now and are prepared to buy. Go for it!
• After you'd owned a home for a while, you found that your income at the time wasn't enough to cover the extra maintenance costs sometimes involved in home ownership, so you went back to renting. Now, three years later, you are in a better position to face unexpected challenges, so you want to buy again. Go for it!
• Back in 2005 or 6, you mother was ill, so you sold your home and moved in with her. Now, she's passed on and you want a place that reflects your taste. You love those new condos over at the Quarters at Dutchtown and really want to buy. Go for it!
• When you were married, you owned a home. When you got divorced four years ago, you sold the home and moved back home. Now, you are ready to own again. Go for it!

It doesn't matter what got you out of homeownership three years ago. As long as you or your spouse have not owned a home for three years, you are considered eligible to get a 10% credit on your home up to a maximum of $8,000.. Of course, you must be creditworthy and not exceed income limits of $75,000 to $95,000 for singles and $150,000 to $170,000 for couples. The credit is a true credit that does not have to be repaid so long as you keep the home for three years.

Sandy Ogburn Sandlin and her team would like to help you realize your dreams of home ownership - or "re-realize" them if you are reentry homebuyer with that magic three years since you last owned a home. Contact Sandy's Team today for the best in East Baton Rouge, Ascension or Livingston parishes.