Primary Residence

• The purchased home must be your primary residence. Secondary residences, such as a summer home, will not qualify. You cannot have owned a primary residence previously to qualify, unless it was for five consecutive years, ending with the purchase of the new home.
  
  

Motor Homes

• The primary residence eligible for the tax credit does not have to be a conventional home, it can also be a mobile home or trailer home, as long as this is your primary residence.
  
  

House Boat

• The tax credit does not exclude the sea enthusiasts either. The tax credit can be applied to a house boat as long as this will be your primary residence. If you do not own a home on dry land, you are still eligible.
  
  

Condominium

• Condominiums cab be included in the tax credit as well. As long as the condo meets the stipulations and details of the tax credit requirements, this can also be considered a primary residence and likewise be eligible for the tax reduction.
  
  

Value Cap

• Eligible residences for the tax credit cannot exceed a purchase price of $800,000. As long as the home is under this amount, you will qualify for the full amount of the tax credit.