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Tuesday, May 5, 2009

Down Economy Has Up Side

Now is the time to move forward with your remodeling plans! Remodeling is a wise investment to ensure longevity, usefulness and home value.

Here are four reasons why today's economy may mean good news for you.

1. Although banks have tightened their standards, they are still eager to write loans for homeowners who have a good credit rating, at least 20 percent equity left in their home and proof of a steady income.

2. Recent Federal Reserve cuts have lowered home equity rates, making them even more attractive. The national average for a $30,000 home-equity line of credit is 5.5 percent. The rate for a home-equity loan for the same amount is around 8.84 percent.

3. Most construction materials are readily available and many have come down in price. You may also get some items quicker due to less demand.

4. The stimulus package includes tax credits to encourage homeowners to invest in green work, such as installing energy efficient windows. Energy efficiency will make your house feel more comfortable and will save you money and reduce carbon footprint in the long run. The cost for choosing a higher efficiency furnace can now be recovered in half the time. Also, ENERGY STAR appliances incorporate advanced technologies that use 10-50 percent less energy and water than standard models. Visit energystar.gov/taxcredits

Are you ready to get started remodeling in Charleston, SC, whether it be kitchen remodeling in Charleston, SC, bathroom remodeling in Charleston, SC, a renovation, or the services of our Specialty Services Team for smaller projects, we look forward to hearing from you at 843-763-3297.

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