I construct my own home...Do I still qualify for first home buyers' tax credit?

let's say instead of buyering a new home from a home builder, you have hired a contractor to construct a home on a lot that you already own. Do you qualify for this tax credit?

Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or before April 9, 2008 and before July 1, 2009.

In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.