“If your home needs sprucing up, there’s a catch-all $500 Harvard University’s Leading Indicator
of Remodeling Acti
vity. The index shows double digit annual growth since fourth quarter 2012.
Why not get a little help from Uncle Sam, and you can feel good about it at the same time? The Alliance To Save Energy touts energy-efficient remodels as a way to help lower your home energy bills, provide a more comfortable living space and reduce air pollution.
“You have people all the time in the market for new Home Depot and Lowe’s to advertise based on the tax credit, reaching out to people who haven’t used it before. “There’s quite a big market for people to use this,” Callahan says, adding that tens of millions of homes are under-insulated.
The credit is 10% of the cost of the building materials (labor excluded) for insulation, exterior windows and doors that meet Energy Star requirements, and roofs (metal roofs with pigmented coating, or asphalt roofs with cooling granules). So if the cost is $5,000, you get the full $500 credit, except for windows, which have a sublimit of $200. Also eligible towards the $500 maximum credit are: central air conditioners ($300), heat pumps ($300), online casinoene