Ingrid Fisher © 2009
BobVilaContractors.com
You live in a house that you love, in a great neighborhood, and plan to remain there for a long time. Something to keep in mind is that as houses age there will be a need for repairs and updating. Before deciding that home remodeling is out of your budget you may want to consider that repairs and additions add to the value of your home. It can also encourage others to do the same with their homes and possibly revitalize an entire neighborhood. Renovation is a sensible thing to do when you consider these points: .
Contractor prices have dropped
Some home improvement stores have begun discounting their labor rates. Specials of 10-15% off can keep lots of money in your pocket. We recommend checking with your local stores to find more offers available to you. Should you choose an independent contractor please remember to do your research. Make sure they are licensed in your state/municipality and can provide you with several solid references. Bids or quotes for larger jobs should always be very detailed and received in writing.
Material prices have dropped
In stressful economic times not many people are starting home improvement projects. As a result the prices of materials have dropped as there is a lower demand. Framing lumber is down 5.6 percent, insulation 3.6 percent, and wallboard is down 22 percent. These materials and many more are readily available at your local home improvement store. Another cost-cutting idea is to use recycled materials where you can in your renovation. Several websites on the internet offer such items and it is a great way to save money on materials such as vanities, doors, windows & frames, lighting fixtures and much, much more. .
Slash your energy bills
Energy bills have doubled in the last several years. When choosing a renovation project find ways of making your home more energy efficient. Replacing the insulation or the furnace in your home can save money during the winter months. A new Energy Star air conditioning unit can slash costs on cooling your home during the summer. A simple but very effective project is to add weather stripping around all windows and doors. For an older home new windows and doors can make a house less drafty, making for a much more comfortable home and a heavier pocketbook. .
Receive tax credits
Beginning in 2009 and through 2010 there are several energy efficient home renovation projects that will earn you a tax credits. The IRS will allow up to $1500.00 for Energy Star windows & doors, water heaters, air conditioning units, and insulation. Also covered are solar energy systems that will earn you the tax credit and save you thousands of dollars in the long run on your utilities. Be sure to do your research. Check with the IRS to assure that the products you are purchasing are qualified Energy Star products.
Take it outside
Home remodeling ideas do not have to remain in the home. Adding a deck to your backyard will allow space to spend time with friends and family, new landscaping around your home will make your time outside much more pleasurable and relaxing. Taking a trip to your local nursery is a great way to let the kids get involved in picking out some of the flowers, shrubs and trees that will be added. New fencing will give your front or backyard a facelift and some privacy or security, and think how thrilled the kids would be with a swimming pool. All of these will give you years of pleasure and increase the value of your home.
Before beginning any type of home remodeling or renovation always research your local market and check references for contractors. Word of mouth is a great way to find reputable services and even your local home improvement store will have a list of qualified resources. The Better Business Bureau is another great source of information about the work history of local businesses and contractors.
