Have you been mulling over the possibility of undertaking a home remodeling project? Maybe a nice basement renovation, for example?
Remodeling a part of your home can be a great way to make your home a happier, roomier place for your family. It adds value to your home at resale time, and it’s much less expensive than buying a new home. And you avoid all the trauma and trouble of uprooting your family and moving them to a new neighborhood.
But there’s one other benefit you stand to gain from a home remodeling project – you might be able to get someone else to pick up part of the tab.
The Government Wants You to Go Green
The U.S. Government considers energy conservation to be in the national interest. They believe that “going green” is important enough that they offer financial incentives to encourage citizens to become more energy efficient.
Those incentives are offered in a number of forms by both the federal and state governments, including:
- corporate tax credits and exemptions
- personal tax credits and exemptions
- property tax and sales tax incentives
- rebates loan guarantees and grants.
If your home remodeling project qualifies, you might be eligible for some financial assistance from Uncle Sam.
Your Local Utility Company Might Be Willing to Chip In, Too
Utility companies are also involved in the “going green” push. Many utility companies offer incentives for improving a home’s energy efficiency. Those incentives are offered primarily in the form of rebates.
Baltimore Gas and Electric (BGE), for example, offers a wide array of rebate programs. Some of the rebate programs apply to new construction, but many apply to renovation projects that lead to greater energy efficiency. And BGE offers rebate programs that apply specifically to residential projects, along with programs that specifically target commercial businesses.
All across the nation, many utility companies offer a range of rebate programs similar to those offered by BGE.
Who’s Willing to Help Pay for Your Renovation Project?
Want to find out who might be willing to help pay for your home renovation project? If your renovation will help to make your home more energy efficient in any way, it’s likely that somebody is willing to contribute.
How do you find them? It’ll take some research.
But the U.S. Department of Energy and N.C. State University have teamed to offer a great tool to aid you in your research: dsireusa.org. Just go to this website, click on your state, and you’ll be presented with a list of the incentives offered by the government and utility companies.
A Deal Sweetener…
While many of the programs offered by governments and utilities are generous, they won’t do more than chip away a bit at the total cost of your renovation project.
But that’s a pretty good deal.
After all, your family will enjoy all the benefits of your home renovation project. And someone else will be willing – even eager – to help pay for it.