New Delaware HomeBuyer Tax Credit Equals Terrific Savings for First-Time Buyers
Owning a home isn’t just about building solid equity – it’s about setting down roots and becoming part of a community. A place where you can be proud to raise a family, enjoy get-togethers with neighbors and grow into over the years. For many who’ve struggled in this downturned economy, home ownership has been just out of reach – until now. Delaware livingjust got that much better and more affordable with the new tax credit for first-time homebuyers that gives huge breaks on your federal income taxes. In celebration of Delaware Homeownership Month, the Delaware State Housing Authority (DSHA) announced this groundbreaking program that will enable many people to realize their dream of a owning a luxurious new townhome at Darley Green.
In regards to the new Delaware Homebuyer Tax Credit for first-time homebuyers, Governor Jack Markell said, “To ensure Delaware can compete and win on the global stage we need our state to be as attractive and as affordable a place to live as possible. This tax credit will help more families obtain affordable housing, stabilize communities and boost our states’ economy.”
Who is eligible for the Delaware Homebuyer Tax Credit?
First-time buyers who purchase a home in Delaware can claim a federal income tax credit of up to $2,000 each and every year thereafter. Because the credit reduces income tax liabilities and boosts your take home earnings over the long run, this new program makes homeownership much more attainable.
In order to qualify for the Delaware Homebuyer Tax Credit, you must:
- Be a first-time homebuyer (may not have owned a home within the past 3 years)
- Purchase the Delaware home as your primary residence
- Purchase with a mortgaged loan through a participating lender
- Meet certain income requirements that will vary by location, county and family size
- Not exceed maximum purchase prices (The highest purchase price for a home in New Castle County is $387,692; $347,307 in Kent County and $346,153 in Sussex County)
And if saving up to $24,000 in federal income tax a year wasn’t enough, there’s even more great news! The Delaware State Housing Authority also offers qualified applicants reduced mortgage rates in addition to assistance with closing costs and downpayments through its Homeownership Loan Program. Hefty downpayments have been deal breakers for a lot of potential homebuyers who were short on cash, but that’s no longer the case.
Imagine having a beautiful two-story townhome with high-end finishes in an upscale neighborhood to call home. With the new Delaware Homebuyer Tax Credit, you can turn your fantasies into reality and enjoy the wonderful, old-fashioned charm of one of the most sought after addresses in Delaware – the master-planned community of Darley Green!
Enjoy new townhomes in Delaware at prices you can afford!
Trending data shows the real estate market is on the rebound, with housing prices steadily climbing throughout the nation. If there were ever a time to purchase new townhomes in Delaware– this is it! Low mortgage rates, federal income tax savings and financial help with your closing costs and downpayment are all available for first-time buyers. This is your opportunity to seize the day and begin the next chapter of your life as a proud homeowner.
At Darley Green, located in the Claymont Renaissance District, our residents live life to the fullest with conveniences like onsite jogging trails, shops within walking distance, and a brand new, state-of-the-art library. Each of our condominiums and townhomes feature classic exterior styling with gourmet kitchens, stainless appliances and the availability of custom add-ons. Wouldn’t you like to call this home?
Swing by anytime from 11AM to 6PM to walk through our model homes. For more information on the Delaware Homebuyer Tax Credit and Darley Green, please contact Amy Maluski, Community Sales Manager at 302.655.2600.