Latest Posts


25
July
2017

3 Tax Credits Homebuyers Should Know

With the housing economy in Florida on the upswing since 2008, now’s a good time to take advantage of the tax incentives and credits available to homebuyers.

Finding the tax credits that are right for you can be a bit of a struggle, so below is a list of the three most commonly used U.S. tax credits that homebuyers like you should get better acquainted with.

Home Energy Incentives

In certain states, like Florida, Texas and New Mexico, where the sun shines a little more often than not, home energy tax credits are fast becoming a popular option. The Residential Energy Efficiency Property Credit, gives homeowners who use energy saving tools, like solar panels, wind turbines, geothermal heaters, and more up to a 30% cost reduction for things like cost of labor and installation.

In order to be eligible for the credit, you much provide receipts for all labor costs and installation services for the year the energy efficient items were put into place.

Mortgage Credit Certification 

The Florida Housing Mortgage Credit Certificate program gives first-time homebuyers the opportunity to get a noticeable tax break on their mortgage interest. Originally, it was designed by the IRS to give everyone, regardless of income, a fair shake when it came to owning a home. The program works to lower the total amount you owe on your mortgage, as opposed to reducing your taxable income, like a deduction would.

Depending on the final purchase price of your home, you can earn up to 50% of yearly interest back as a tax credit.

Private Mortgage Insurance Deductions

If you purchase any private mortgage, its premiums are usually added to your existing mortgage payments if the loan’s value is more than 80% of your home’s value. Renewable through Congress, these deductions give those who needed to take out far more substantial loans a financial reprieve that comes with having increased monthly mortgage payments. 

With Avex Homes at the helm, we can ensure you and your family gets settled into the home of your dreams with an easy process that’s fast, efficient, and stress-free. If you’re in the market for a new home in Longwood, Orlando, Kissimmee, Davenport, Fruitland Park, Grand Island, Wesley Chapel or Tampa, Florida call us at (407) 590-3501, or email our Online Concierge, Todd Simon, at todd@avexhomes.com.

Chelsea Park

Overall experience with your Avex Homes Construction Supervisor Excellent
Clear communication regarding the construction of your new home Excellent
Timeliness and completeness of construction (was your home ready when promised and complete to your satisfaction) Excellent

Chelsea Park

Clear and honest communication with you about your new home Excellent
Knowledge of the product and home buying experience Excellent
Overall experience with your Avex Homes Sales Associate Excellent

Windy Ridge

Overall experience with Avex Title Excellent
Clear communication regarding the closing of your new home Excellent
Timeliness of your closing and accuracy of the closing documents Excellent

Mirror Lake Village

Overall experience with your Avex Homes Construction Supervisor Excellent
Clear communication regarding the construction of your new home Excellent
Timeliness and completeness of construction (was your home ready when promised and complete to your satisfaction) Excellent

Greenville Commons

Overall experience with your Avex Homes Construction Supervisor Excellent
Clear communication regarding the construction of your new home Excellent
Timeliness and completeness of construction (was your home ready when promised and complete to your satisfaction) Excellent