From Brittany on August 22nd, 2011 in General Remodel
Think of saving up to $7,000. While coming away with a nice home renovation. Yes, the two ideas can coincide, thanks to a new incentive program available to residents of San Francisco, California.
Called the San Francisco Home Improvement and Performance, or SF HIP, the program is another sign that the home improvement market has shifted from new, over-sized homes to renovations that benefit the homeowner and the environment.
Get Up to $7,000 Back for Your Renovation
The project was officially introduced in April, initiated by both San Francisco mayoral candidate Assessor-Recorder Phil Ting and the city’s Department of the Environment. Ting told the Bay Area Reporter that the incentive program “is particularly beneficial to those who own older homes, who have been living in them for 20 or 30 years, and may have a water heater that’s 50 years old.”
Fliers went out about the program to property owners this year, but many people still don’t know that money is available to them upon renovation.
To get pricing information about a project in your area, click here.
This program is meant to be an all-around win. Homeowners can save money on energy costs. Needed improvements are made with quality and attention. The value of a renovated property shoots up—a green home sells for around $20,000 more over a non-green one. Not to mention that green remodeling makes a home run more efficiently, reducing your energy bills immediately.
The rebate itself is instant. The amount returned is deducted upfront from the cost of improvements, rather than later on at tax time.
Who Qualifies for San Francisco Home Improvement Rebates?
Interested homeowners can schedule an energy audit, which will include a home safety check. Those who qualify include only single-family homeowners who are PG&E customers. Homeowners must achieve at least 15% of the energy efficiency improvements revealed in the audit. The maximum rebate amount is $7,000, which will drop by $1,000 after this coming August 31.
While you can go through this process on your own, it’s best to search for a contractor, preferably the pros who deal with home improvements and rebates all the time. The process will not only go smoother, but you’ll be sure that what you’re choosing and installing meets the qualifications.
The process of applying for funding, securing the remodeling rebates, and completing the home improvements correctly often turns a renovation from a hassle to a pleasant experience (resulting in a better home and an immediate financial return on your investment). More than that, the process often requires the help of a contractor.
You can get in touch with a contractor by clicking here.
For more on the San Francisco Program, see SFenvironment.org.