4 Ways to Save Money On Home Improvement Projects
Projects That Save in the Long Run
While home improvement renovation projects can initially be expensive, there are methods that can help save you money in the long run. Through this article, we’ll walk you through potential examples that could actually save you money.
1) Federal Tax Credits and Rebates Eligibility
Federal tax credits and rebates are a great option but will require some work as they generally need information such as proof of purchase and model number.
Below are two examples of rebate programs. Eligibility will vary from state to state and each manufacturer, so be sure to research if your project will qualify.
- State Rebates: Many states offer rebates for replacing old, drafty windows. In Oregon, homeowners who install new, energy-efficient windows can receive a cash incentive up to $4 per square feet from Energy Trust of Oregon with 3 simple steps.
- Manufacturer Rebates: GAF Roof offers the “Roofs for Troops” rebates where active military, veterans and retirees receive a $250 rebate when you install a GAF roofing system on your home.
2) Energy-Efficient Products
With the rising cost of home ownership, manufacturers are designing their products with energy efficiency in mind. Energy Star, a program run by the U.S. Department of Energy and has set the standards for more than 20 years, says that installing certified windows could lower household energy bills by an average of 12% nationwide. Many homeowners don’t realize that ⅓ of your home’s heat can be lost because of inefficient windows.
3) Shopping Smarter
When it comes to home improvement, the biggest mistake that you could make is not doing your research on finding the right contractor and product.
Here are two things to consider while doing your research:
- Third-Party Recognition: Utilize trusted third party reviews sources such as GuildQuality and Angie’s List to hear from other homeowners on their experience.
- Warranty: Mother nature can strike at any time and this is why getting industry-leading warranty matters! By working with a contractor that partners with the best manufacturers, you can get warranties such as GAF Roof’s Golden Pledge warranty that covers both the product for 50 years and labor for 20-years.
4) Lower Insurance
Depending on the features of your product, you may qualify for reduced home insurance premiums. For example, by working with a recognized siding contractor that offers James Hardie siding, you could lower your insurance premium because the siding is non-combustible and hail damage resistant.
Home improvement projects don’t need to be expensive and difficult – it just requires some research. The key to having a successful remodel is to talk to a local contractor to help determine what cost-saving methods best fit your needs.