How to Apply for the California New Construction Tax Credit

Posted on June 18, 2009 | by Denny Oh

If you’re thinking about buying a new home, you may want to hurry up!  California is giving a $10,000 tax credit to those who purchase a newly constructed home that has never been lived in, between March 1st 2009 and March 1st of 2010.  There are no restrictions on how much money you make, but you do have to live in the home upon closing escrow for a minimum of two years.

California set aside $100 million towards this credit, but hurry up.  As of June 12th 2009, only $69,534,047 of the $100 million is left and there have been 9,145 applications submitted which would account for $88,252,190 of the fund.  If you’d like a list of homes that qualify for this tax credit, email me at [email protected] or call me at 858–243–2092. 

Additionally, if you qualify, you can still receive the $8000 first time home buyer tax credit

Please let me know if you have any questions.  Click here to see some great downtown San Diego condo deals.

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