While we normally don’t get into financial advice in this blog, a number of factors are converging right now to create a great environment to take on a remodeling project in your home.  We think you should know about these factors.

Loans

Although there is some progress being made in the economy, the stock market continues to fluctuate.  This continues to steer investments toward bonds, which help lower interest rates.  The recent crisis in Europe brought a flood of money into our bond market which dropped many of our interest rates to historic lows.  With Europe starting to recover, that money could be on it’s way out and rates on their way up.  This may be the best time to get a low-interest home equity loan to fix up your house.

Tax credits

A $1,500 tax credit for installing energy-efficient windows, doors, roofs, water heaters and  more has been available for a while now as part of the President’s stimulus package.  But that may not be true for much longer.  To qualify, you must have these items installed by December 31.  In addition, some states and localities offer rebates and credits for purchasing energy-efficient appliances and systems.

Housing prices

No, we can’t tell you when they’re going to go back up or how fast.  But we can tell you that replacing your windows, roof, or siding will improve your home’s selling price no matter what.  If your plan is to ride it out in your current home, why not make improvements now so you’re ready when the market rebounds and enjoy your updated home in the meantime.

If you’d like to explore your remodeling options to figure out what’s best for your home, contact us and we’ll be happy to help you out and discuss how you can save money in the process.

Tags: Allied Remodeling, energy efficient, energy tax credits, home equity loans, home improvement, remodeling, remodeling project, replacement windows, roof replacement, siding replacement

This entry was posted on Friday, August 6th, 2010 at 12:21 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.