The Town of Southampton, NY is making it easier for first time home buyer's to purchase a full time residence in the Hamptons.
The town is now offering an exemption of the Peconic Bay Region Tax Community Preservation Fund for those who qualify.
Purchases must meet the following criteria;
Subject property must be primary residence
No prior ownership at anytime in previous three years
Buyer does not own a vaction or investment home anywhere
Buyer's household income must not exceed limits defined by SONYMA (currenty $122,160)for one and two person household for Suffolk county
Subject property must be within 120% of purchase price limits defined by SONYMA low interest rate mortgage program for one and two person household category for Suffolk County (currently $765,168) for improved property (home plus land)
For more information or to get applications go to www.southamptontownny.gov
Representing home buyers throughout The Hampton's. If you're looking to buy, invest, or rent in the Hamptons, please call or email us to find out more about the advantages of a "buyer's broker".
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