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Posts Tagged ‘roofing’

Enjoy Tax Credits For Energy Conservation

February 15th, 2010 by Matthew C. Keegan | 2 Comments | Filed in Consumer Tips

Who knew that conserving energy in the home can be so very beneficial financially?

If you made a purchase in 2009 or are planning to make one in 2010 of an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. Related purchases made last year can be claimed on your 2009 federal tax return while related work completed this year can be claimed for 2010.

Stimulus Funds

Energy StarThe U.S. Department of Energy is behind many of the tax credits, some of which were put in place when that massive $787 billion stimulus package was passed in 2009.

The maximum tax credit you can receive is 30 percent or $1500 which can be realized by purchasing $5000 in eligible products through December 31, 2010. That is a cumulative amount too; you cannot claim $1500 in both years.

What sort of energy saving products qualify for the tax credit? Quite a few including:

Biomass Stoves: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

HVAC: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

Insulation: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

Roofing: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

Non-solar Water Heaters: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

Windows and Doors: 30% of cost, up to $1,500 For 2009 and 2010 only; and for primary residences and existing homes only.

There are several tax credits that have been put in place through 2016, some of which have no upper limit:

Geothermal Heat Pump: 30% of cost, with no upper limit. Must be “placed in service” by Dec. 31, 2016. For primary residences, however vacation homes eligible for partial credit; no rentals. For both new and existing homes

Solar Energy Systems: 30% of cost, with no upper limit. Must be “placed in service” by Dec. 31, 2016. For primary residences, however vacation homes eligible for partial credit; no rentals. For both new and existing homes

Wind Energy Systems: 30% of cost, with no upper limit. Must be “placed in service” by Dec. 31, 2016. For primary residences, however vacation homes eligible for partial credit; no rentals. For both new and existing homes.

Fuel Cells: 30% of cost, up to $500 per .5 kW of power capacity. Must be “placed in service” by Dec. 31, 2016. For primary residence; new and existing homes.

Lastly, there are certain tax credits for people who buy energy efficient passenger vehicles including battery electric, hybrid, and certain diesel models. Visit fueleconomy.gov for details.


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Leaky Roof? Check Around The Vent Pipe!

June 18th, 2009 by Matthew C. Keegan | 7 Comments | Filed in Home Improvement

Our home has a new roof so when my wife spotted a leak in the laundry room we were both shocked and worried. Hadn’t the roofers done a good job in removing the old roof and shingling on a new roof? Naturally, I was concerned and decided to climb up on top of the house to investigate. Fortunately, the roof was fine but the problem was found in the area of one of our vent pipes.

As it turns out, the boot surrounding one of our three vent pipes was split, probably breaking when an overhanging branch broke off, landed on it and cracked it open. I’ll not only be fixing the roof, but I’ll be trimming some branches too.

A Temporary Fix

Because the weather was so nasty, I performed a temporary fix before waiting for drier conditions to address the problem. It isn’t 100% leak proof, but what I did do was to take a plastic bag and placed it over the pipe, pulling it down to let the vent pipe push through. I tucked the bag underneath the flange until I could get to the store for a replacement part. Fortunately, the wind was relatively calm and the bag has stayed in place.

I have some of the tools which will allow me to get the job done, borrowing a hook blade knife from a neighbor to lift shingles up in order to remove the flange and broken boot. For a visual example of this work, the following YouTube video can be immensely helpful:

As you can see, the job doesn’t take a long time to complete, but you must have the right tools to successfully accomplish the task. I’ll visit my local Home Depot, Lowe’s, or Ace Hardware store for a new roof pipe boot, but if they don’t have what I want, I’ll go to my local roofing supplier.

Of course, if you hate to climb on top of your roof or aren’t sure that you’re doing the job right, then call in a professional roofer to get the job done.

Adv. — Are you planning to travel this summer? If so, you’ll want to make sure that you save money on car rental, lodging, airfare and all other travel expenses. Gas prices are on the rise which means you’ll need to save money elsewhere. Why not let SayFunTravel.Com help you find the best deals on all of your travel related expenses, your one stop travel portal to helpful information and savings!


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Condo Fees Are Up, Up, And Away!

June 23rd, 2008 by Matthew C. Keegan | 1 Comment | Filed in Home Buying, Home Tips

condo fees

The condominium market has imploded over the past year or two thanks to a downturn in the overall housing market and overbuilding in many local markets. Complete condo projects remain unfinished in Miami with some nearby completed units half empty due to foreclosure and/or a failure to sell.

Bad news for one person could be good news for another one, particularly for the investor who wants to snap a bargain while the market remains depressed. But, condo living isn’t for everyone and when condo fees are included, that bargain can quickly yield some nasty surprises.

Unlike most other residential housing options, condo costs are difficult to predict long term. Certainly, both the house owner and the condo dweller must pay property taxes, insurance, and similar expenses, but there are other costs which tend to go up much faster than the rate of inflation, expenses which are added to condo fees.

Let’s take a look at the charges which drive condo fees:

Age of Building — Newer projects don’t have quite the overhead of older buildings, namely the need to update or overhaul old equipment, repair fascia, replace flooring, paint walls, you name it. Your particular unit may have been updated, but the common areas may need a refreshing or, worse, a complete makeover. You’ll be responsible for a portion of these costs which are frequently added to monthly condo fees.

Utilities — Everyone is paying more for gas, electricity, and water. Condo owners are responsible for their share of the building’s utility usage and these rates have gone up dramatically over the past few years. Add in garbage removal, recycling, landscaping, sewer, and related expenses too.

Insurance — You have insurance on your own unit, but the association governing your building has to insure the entire property. Condos close to the ocean or in major cities have seen their rates skyrocket. These costs, of course, are passed on in the form of higher condo fees.

Of course, buying a condo may be the only option for people who have to live in a particular area. If you are planning to buy, examine the financial documents closely before you sign. Learn how much reserves the condo association has on hand to cover planned maintenance including a new roof, elevator, pool, etc.

If the funds are insufficient, you can expect your condo fees to increase dramatically even before maintenance is needed. That $225 monthly condo fee could suddenly jump up to $350 or $400 per month, a figure that must be added to your own mortgage costs, insurance, and property taxes.

Most defintely, if you are planning to buy a condominium, condo fees are going up and, in most cases, at a rate much faster than inflation. Think before you buy!

Resources

7-Step Home Buying Guide

Home Buying Map (download)

Lending Calculators


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Getting Your Home Ready To Sell

June 10th, 2008 by Matthew C. Keegan | 2 Comments | Filed in Home Improvement, Home Selling

Homeowners who are preparing to put their houses on the market are understandably nervous these days. Will a buyer be found? Will they be approved for a mortgage?

This sort of uncertainty has some owners thinking about spending extra money to make repairs in a bid to improve the marketability of their homes. While major repairs should be handled before the home is offered for sale, most sellers can make minor repairs and still sell their homes.

Before you sell, you need to assess how your home looks to potential buyers. A skilled real estate agent can suggest what repairs you should make before marketing your home; those tips are likely to include the following:

home paintingClean up your landscaping — your front lawn could make or break a sale; if your home doesn’t have curb appeal, then buyers may not be able to “look past” the front door. Trim bushes, put grass seed down to fill in patches, plant flowers, and lay down mulch. Trim trees which are obviously diseased too.

Refreshen your front door — does the entranceway to your home “wow” your visitors? If not, consider applying a new coat of stain to the front door, fix broken glass, clean the light fixture, lay down a new welcome mat, apply a fresh cost of paint around the frame of the door.

Interior walls — short of painting your home’s interior, touching up walls by removing smudges and repairing cracks could be all that is needed. If wallpaper has obviously aged and looks dated, remove same and repaint the walls with a soft color.

Too much furniture — remove extra furniture as too much furniture can make a room look smaller than it should. If a chair or sofa is worn, put a new slip cover over same or remove that piece.

Carpeting, flooring — ripped carpeting should be fixed. If old, replace it or if there are wood floors underneath, have the floors refinished — you’ll save money over buying a new carpet.

Bathrooms — replace that old toilet seat with a new one, fix dripping faucets, caulk the shower/tub, clean the tile, replace the shower curtain and rug.

Kitchen — keep all appliances even if they are old as long as they work. Your next buyer will probably replace these items anyway. Re-stain or repaint cabinetry and fix counters that are cracked, worn, or otherwise needing a makeover. Remove excess small appliances when showing the home to create a more spacious appearance.

Closets, nooks, and crannies — sticking everything in closets or other out of the way places is a no-no. Organize these areas to “show” exactly how they are to be used; avoid filling up your attic, basement, garage, and shed with stuff you really don’t need and won’t ever use again.

HVAC — an old furnace, air conditioning unit, or hot water heater could be a sale stopper. Replace these appliances before putting the home on the market.

Instead of spending tens of thousands of dollars readying your home for sale, you could spend just a few hundred to a couple of thousands of dollars and have a home that will sell quickly. The key, of course, is to do the minimum repairs in advance of marketing your home, to help you maximize your profit and move on with your life.

Resources

Doors and Windows

Garden Maintenance

Home Projects

Upstairs/Master Bathroom


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