First-Time Home Savings

The first-time home savings account can be used for the purchase or construction of a real-property, primary residence in the state of Kansas, when qualifying as a first-time home buyer

There are maximum annual contributions of $3,000/individual or $6,000/married filing jointly
The maximum account balance in $50,000 (be sure to allow for interest)
You must allow 1 year to pass before the funds can be used
The account holder is responsible for ensuring all requirements are met
There can only be 1 beneficiary per account