Now’s the Time to Consider Making Home Improvements

With so many programs available to homeowners these days it is a great time to consider making household improvements.

Most people are aware of the federal tax credit which gives homeowners a tax rebate of up to $1500 when they purchase energy efficient products including windows, doors, roofing, HVAC, insulation and water heaters.  For the uber-green homeowner you can even qualify for the rebate when you purchase solar panels, geothermal heat pumps and residential wind turbines.  It is a simple program-homeowners report the material cost on IRS form 5695 and retain a copy of the manufacturer’s certification statement for their records.*

Many homeowners have also caught on to state and local funding programs that offer home improvement loans at low interest rates often below current market rates.  These “fix-up” funds help improve the home’s energy efficiency while giving homeowners the opportunity to increase the value of their home.

More information on these loan programs can be found at the Center for Energy and Environment at www.mncee.org.

*Homeowners should consult a tax professional when applying for the energy credit.