Wednesday, March 31, 2010

Homeowners Plan to Live in Homes Longer & Turn To Remodel Projects

Energy Efficient Home Remodeling Projects are Hot Projects This Year

By Mark J. Donovan

A recent Wells Fargo and Company survey suggests the average homeowner has increased their expected time to live in their home to 16 years. This fact is in no doubt due to the housing market collapse and the resultant high percentage of homes that are worth less than their mortgages.

Though homeowners are planning to increase their stay in their homes, this doesn’t mean they are letting their number one investments rot on the vine. As a matter of fact, more and more homeowners are turning to home remodeling projects, and in many cases do it yourself home remodeling projects.

Though kitchen and bathroom remodeling projects have traditionally been high on homeowners’ lists for remodeling projects, homeowners may be smarter to take advantage of current energy efficiency government tax incentives.

Case in point, homeowners may be eligible today for tax credits for energy efficient appliances and heating/cooling systems, replacement windows, insulation, and low water usage landscaping.

So before deciding on a home upgrade or remodeling project see what tax savings the government maybe offering. This might be the year to hold off on the bathroom remodel, and instead opt for the window replacements.

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