From Beth on March 3rd, 2009 in Green Remodeling
Take advantage of the $1500 tax credit by requesting free estimates for window replacement now!
President Obama’s stimulus package will make it easier on the pocket book to remodel your home this year. So, if you’ve been putting off your dream remodeling plans, now’s the time to kick start that project and reap the tax incentives and sizeable rebates.
Obama’s support for greener living shows in his new plan; he allocated $300 million in funding for the Energy Star program, which offers tax credits to consumers purchasing new, efficient appliances.
By adding a highly efficient residential air conditioner, heat pump, furnace, or windows, you’ll receive a tax credit to cover 30% of the costs up to a total of $1,500. Same goes for adding more insulation in your attic and replacing leaky windows.
Lower income families will benefit from the Weatherization Assistance Program. If your income is less than 50% above poverty level, you can take advantage of this program and update your home with energy efficiency improvements such as weather-stripping and adding insulation. In the past this program has been underfunded, but because Obama is pro green, he’s allocated $5 billion to this year’s budget.
This program not only teaches low income families how to weatherize their homes, it also saves them hundreds of dollars in energy bills each year. On average, weatherization reduces heating bills by 32% and overall energy bills by $358 per year. This is truly a win-win program.
The $8,000 tax credit for first time home buyers should also help in the remodeling sector next year.
Between the tax credits and rebates homeowners will have more incentive this year to improve their homes and, in the long run, they’ll be helping the environment and saving on energy bills – a win-win plan.
Photo features the work of Integrity Windows, Siding, Roofing and Doors