Well I don’t know about you, but I always enjoy a certain amount of football on New Years Day, and today was no different, a leisurely morning…coffee, breakfast and the Rose Parade is a tradition in our house, along with playing games and an occasional snack. This evening as I watched the Rose Bowl between Ohio State and Oregon, I noticed the National Association of Realtors had a couple of nice commercials on and during halftime, I checked out a website they mentioned……www.houselogic.com which includes some great tax credit info on both housing and energy saving improvements. Whether you are installing a geothermal heat pump, trading in clunker appliances, or installing solar panels, you may be surprised to find these improvements on the list of tax credits that you may qualify for. This tax credit is capped at $1,500 and includes items such as: Replacing aging windows, HVAC systems, and non-solar water heaters, installing efficient biomass stoves, adding insulation, or fixing a worn roof. To encourage greater energy efficiency, homeowners can recoup 30% of the cost, up to $1,500, for making any of these qualifying upgrades during 2009 or 2010. Claim the credit for the year in which you complete the project.
Refer to this website: www.houselogic.com for answers to most of your questions regarding these tax credits. (Thanks, NAR for another fine resource.)
As I’ve mentioned before, time is short if you want to take advantage of either the First time Home Buyer’s Tax Credit or the expansion that includes a $6,500 tax credit for those who sell their existing primary residence (if you lived there 5 consecutive years out of the last eight) and purchase a another home before April 30th 2010. I know, I sound like a broken record (I apologize if you’re too young to understand), but I don’t want anyone to say: “Why didn’t you tell me about this”, so I will continue to remind people and share information like this until they stop giving us these credits. So…in between all the great football games that will be on the next several days, either head out to your favorite home improvement store, or contact your Realtor, which ever the case may be, and come April 15th. maybe you’ll have a nice wad of money in your wallet and a few less cold drafts in your living room.
Make it a great 2010!