House on MoneyOne Week Left for the $1500 Energy Tax Credit 

If you have any last minute energy efficient upgrades to make to your home, now would be the time to have them done. 

For the past couple of years there has been a home improvement tax credit in effect.  That credit is set to expire on December 31, 2010, which is at the end of this week. 

Until Saturday night, you can qualify for a credit of 30% of the cost of any energy saving upgrade, up to $1,500. 

Which upgrades are eligible for the tax credit? 

  • HVAC components, including air conditioning units, boilers, gas furnaces and heat pumps.
  • Insulation, whether fiberglass or blown-in cellulose.
  • A new energy efficient roof - asphalt or metal.
  • Water heaters - keep in mind a water heater general lasts 8 - 10 years.
  • Energy efficient windows and doors. 

The home must be your principal place of residence.  Tax credits do not apply to new construction. 

Really, these types of programs effect home ownership and should stay around for as long as possible, particularly considering the state of the housing market.  Perhaps Congress will work on another initiative to reinstate them at some point.

But, for now - we only have until the end of the week.

 

 "One Week Left for the $1500 Energy Tax Credit"

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

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5 Comments on One Week Left for the $1500 Energy Tax Credit

DEC
26
2010
151,515 Points

What better time to get it done and save on taxes at the same time
10:41pm • #1
606,726 Points 71 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Timely reminder Claudette !

I had windows replaced last year and got the credit, and upgraded my homes insulation which will qualify for this credit again this year !

Cheers !
10:42pm • #2
1 Featured Post

Great reminder! There is most definitely still time to get something done before the tax credits expire.
10:53pm • #3
DEC
27
2010
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Rose Mary:

Yes it is but you will have to hurry.

Sheldon:

I am glad to hear that someone benefited from this credit. That's great.  I made upgrades to my house this year, but nothing to qualify for energy credits.

Bradley:

It will have to be set up soon to get in under the wire.
11:34am • #4
368,208 Points 18 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Caludette, i was just reading in a Kiwosaki book about Real Estate that the tax benefits of owning a home are a way to offset so many taxes. Thank you for sharing this very important and timely one.
3:18pm • #5


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