When you hear "new home rebate," what comes to mind? Building a home and getting a check for building a new home? Well, you are almost right. There are several different new home rebate programs, and most of them are based on where and how you build your new home. Here are three examples of rebates currently being offered to consumers.
1. Build in Canada, Get a Chunk of Canadian Change
Canada has miles and miles of untapped land development potential. That is why the Canadian government offers its citizens (and those who have dual citizenship with another country) a nice, fat tax rebate if they build their first new homes in certain areas of the country. Of course, you have to adhere to the rules, which includes the fact that you have to be building your very first new home ever and you cannot spend more than $350,000 Canadian dollars to get the full refund.
2. Build an Energy-Efficient Home in Alaska, Get a Tax Rebate
Alaska's state housing authorities offer up to $10,000 if you build a new home in Alaska that is as energy-efficient as you can make it. Given the many challenges of channeling energy into homes even within the largest Alaskan cities, the government wants to encourage further land development of the state by getting full-time residents to build where they like while making the homes eco-friendly and energy-conservative wise. If you are willing to move to Alaska and follow the requirements to get this rebate, it comes in the form of a tax break.
3. Real Estate Agents Who Give Their Commission Back to You If You Build in Florida
So, the story goes, if you build a new home in Florida, building contractors have to include a 1% real estate sales agent commish in your building contract. The contractors cannot take that off or give it back, even if you have no intentions of using a real estate agent for any purpose. However, there are some real estate agents and agencies that will give that 1% back to you if you do use their services to find and purchase a property on which to build your new home.
Although 1% might not seem like much, it becomes more than you realize once you start looking at Floridian property values. It is even more apparent when you hire a contractor and find out how much your home is actually going to cost to build it. To help you visualize things, let's say that the property and the home construction together will cost you $250,000. One percent of that amount is $2,500! It is worth looking into if you were going to build your first home in Florida anyway.Share