Cary NC - Real Estate Blog.  We've seen a lot of remodeling and updating being done over the last few years in Homes for Sale in Cary NC.  If you responded to generous home-related tax incentives offered in 2009 and 2010, make sure you file the necessary forms and supporting documentation to collect your credit.

Home Buyer Tax Credit:  First-time buyers of Cary NC Real Estate, or others who have not owned a home in the previous three years, may collect up to $8,000 if they signed a contract by April 30 and closed by September 30, 2010.  Move-up buyers who have owned their existing home for at least 5 years and purchased another property after November 6, 2009 can receive up to $6,500.  In both cases, eligible homes must be purchased for $800,000 or less and as principle residences (not rental properties).

Energy-Saving Home Improvements:  You can receive a credit of 30% of the cost, up to $1,500 max, if you made certain energy-efficient upgrades to your existing primary residence.  Eligible improvements include appliances, water heaters, heating and cooling systems, windows and doors, insulation and roofing projects, amonth others.

Tax credits reduce your tax liability dollar for dollar and can really add to your bottom line.  Be sure to consult your CPA for more information!