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Cohabitation: tax credit extension
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For those of you in a relationship who have decided to move in together recently, now is a great time to buy a house. Obama just signed the Homebuyer Tax Credit Extension, making the $8,000 tax credit available through April 30, 2010. As part of an economic stimulus package, the tax credit that's been available this year to first-time homebuyers will be extended, but a new addition to the package is now being offered to current homeowners. For those who have lived in their home for 5 or more years, a $6,500 tax credit is now available. Income limits have been raised as well, from $75,000 for a single homeowner to $125,000 and $125,000 for a couple to $225,000.Wednesday evening, the Senate passed this bill unanimously and Thursday evening, the House of Representatives voted 403 to 12 in favor of the stimulus plan.
I'm not saying that you should make a HUGE decision such as living together based on financial gain/convenience. Those of you who read my column regularly know the reasons that couples should and shouldn't move in together. For those who don't read regularly, shame on you. Just kidding! Here's the link. However, if you've decided to move in together and you're looking for apartments, maybe you should be looking for a house instead.
Helpful links if you’re looking:
http://mibor.com/
http://www.tenmanagement.com/listings/state.do?code=IN
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