There are many reasons why right now is a great time to purchase a home, especially with the homebuyer tax credit being extended until June 30, 2010. So if you are in the market to buy a home, you may want to consider the benefits of living near the University as a way to lower your carbon footprint as well as your gas bill.
Did you know that the University sponsors the University Home Ownership Incentive Program for new homeowners in Sector 4 & 6 of the city, which includes the 19th Ward and the South Wedge? By teaming up with the City of Rochester, Advantage Federal Credit Union and Canandaigua National Bank & Trust, the University of Rochester hopes to encourage its employees to live in the neighborhoods surrounding its main campus.
If you’re looking to purchase a house, you can receive up to $9,000 through this program towards the purchase of a home in Sectors 4 and 6 of the city. In addition to the tax credit that could be a total of up to $17,000 in your pocket! This means that not only will your new home be more affordable, you’ll also cut down on your commute. On nice days, you may even be able to walk to work!
The program does require a 5-year employment and occupancy, and is only available fto regular full-time and part-time faculty and staff of the University.
If you’re interested in learning more about this program, please visit www.rochester.edu/benefits/housing.