How would you like to make your house more energy efficient AND have the government pay for some of the project costs through tax credits? If this interest you, pay attention. Right now the government has extended/implemented many tax credit programs that last through December 31, 2010. Today, I will touch on a few areas that will make substantial changes in your energy bill as well as being very wise decisions for the future of your home.
Insulation: Adding insulation is one of the easiest and most cost effective ways to reduce energy consumed in a home. Most insulation and products that reduce or eliminate air leaks qualify, just make sure they come with a manufactures certification statement usually found in the packaging. Be aware, however, that the insulation tax credit does not include labor costs.
Heating, Ventilating and Air Conditioning: Furnaces, boilers, heat pumps and central air conditions that meet the minimum requirements installed in 2009/2010 may qualify. You will be happy to know that labor costs for HVAC and Water Heaters are included.
Water Heaters: Water heaters account for 14% to 25% of the energy consumed in your home, so a new water heater is a great investment, especially if the government is willing to pay for it! Water heaters have an average life of 10-15 years. If yours is approaching the end of it life you should consider a tankless water heater or a newer version that qualifies for the tax credit program. Qualifying water heaters include gas, oil and propane water heaters (including tankless), electric heat pump water heaters and solar water heaters.
Windows and Doors: Whether it be one window or your whole house this is a very practical project to undertake. With the wide array of window options not only will this add efficiency to your home but could also add an aesthetic boost. If you can’t afford to do your entire house, start with the front and then work your way around. The tax credit does not include installation.
For all of the tax credits that I mentioned the government is willing to contribute 30% up to $1500 if installed in 2009/2010. The property will also need to be your primary residence, rental properties do not apply.
In order to claim these tax credits complete and file Form 5695 with your regular tax return. Although you will not have to submit certificates verifying the material you installed meets the energy requirements you will need to keep them on file.
A tax credit can be a great benefit, it reduces the amount owed to the IRS on a dollar for dollar basis. If your liability is reduced to zero with some tax credits being unused, the balance may be carried to the next years taxes. Please check with your tax advisor to see if these are feasible options for you.
To learn more about tax credits and materials that qualify please visit www.energystar.com.
Detail brings out character in your home!
There are many fine touches that can bring out the character in your home. Adding molding is something people often overlook, but it is a great way to bring out your home’s charm. For example, most people take a lot of time choosing cabinets, paint and tile but don’t put the same amount of time or thought into moldings. With the plethora of different materials available at the local lumber yard adding molding can be an quick and inexpensive weekend project.
Selecting the correct molding for your house is a simple process. First you need to know whether you want a painted or stained product. If you are looking for a product you can stain sticking with solid pine or poplar is a good idea. If your intention is to paint the molding, finger jointed material or MDF (medium density fiberboard, a less expensive product) are you best choices.
Next step, location, location, location!!! Usually all rooms have base and casing, crown and chair rail should be well thought out before installation. It is very usual to see crown molding, chair rail and wainscoting installed in a dining room or family room because these might be the only places you can get away with it. All of the material might be to much for the average living room or kitchen and give off a cluttered feel. As a general rule of thumb keep crown molding in the living room and chair rail in the dining room/hallway. Here’s an idea – for your bathroom think about a chair rail with a wainscoting but do it out of tile. Check out this example http://www.hgtv.com/home-improvement/covering-bathroom-tile-with-wainscoting/index.html. You will need to take a little time to experiment with molding locations throughout your home.
Installing molding can be a do it yourself job if you have some extra time, tools and a good eye. Chair rail, base and casing are definitely all do-it-yourselfers. Crown molding can be a little tricky especially in older homes where right angles and straight walls are rare. Installing any molding takes a lot of patience and remember measure it twice and cut it once!
Understand the types of molding
Crown Molding : Trim that runs along the top of a wall. Usually where the wall meets the ceiling.
Chair Rail : Trim that is mounted on the wall between 36” and 48” off the ground. Wainscoting : Paneling applied to the lower portion of a wall. Usually underneath the chair rail.
Base Molding : Trim that is mounted at the bottom of a wall.Casing : Trim that surround windows and doors.
Selecting the correct molding for your house is a simple process. First you need to know whether you want a painted or stained product. If you are looking for a product you can stain sticking with solid pine or poplar is a good idea. If your intention is to paint the molding, finger jointed material or MDF (medium density fiberboard, a less expensive product) are you best choices.
Next step, location, location, location!!! Usually all rooms have base and casing, crown and chair rail should be well thought out before installation. It is very usual to see crown molding, chair rail and wainscoting installed in a dining room or family room because these might be the only places you can get away with it. All of the material might be to much for the average living room or kitchen and give off a cluttered feel. As a general rule of thumb keep crown molding in the living room and chair rail in the dining room/hallway. Here’s an idea – for your bathroom think about a chair rail with a wainscoting but do it out of tile. Check out this example http://www.hgtv.com/home-improvement/covering-bathroom-tile-with-wainscoting/index.html. You will need to take a little time to experiment with molding locations throughout your home.
Installing molding can be a do it yourself job if you have some extra time, tools and a good eye. Chair rail, base and casing are definitely all do-it-yourselfers. Crown molding can be a little tricky especially in older homes where right angles and straight walls are rare. Installing any molding takes a lot of patience and remember measure it twice and cut it once!
Understand the types of molding
Crown Molding : Trim that runs along the top of a wall. Usually where the wall meets the ceiling.
Chair Rail : Trim that is mounted on the wall between 36” and 48” off the ground. Wainscoting : Paneling applied to the lower portion of a wall. Usually underneath the chair rail.
Base Molding : Trim that is mounted at the bottom of a wall.Casing : Trim that surround windows and doors.
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