Indianapolis Condos

The popular $8,000 first time buyer housing tax credit (passed by House and Senate and on its way to President Obama) proved a powerful motivator in the housing market.

However, the expansion of this housing tax credit currently on its way to approval to include a credit of $6,500 for repeat buyers provides even greater opportunity for the Indianapolis real estate market.

While the original $8,000 housing credit provided its primary benefit to first time buyers, it offered generous auxiliary benefits for repeat buyers. Second-time home buyers benefited from the incentive of the tax credit as an influencer for the purchase of their first home. The $6,500 tax credit provides that primary benefit of a home buyer tax credit, as well as the opportunity for all repeat home buyers, not only those currently in a home appealing to first time buyers. This expansion is likely to be a much greater catalyst for the real estate industry and ultimately more beneficial for new home builders, real estate professionals and homeowners.