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Thread: Obama is paying for home upgrades

  1. #1

    Default Obama is paying for home upgrades

    http://finance.yahoo.com/family-home...-Home-Upgrades

    Ian, I thought of you with the windows...

    Purchasing New Windows and Doors
    Before, tax credits for windows and doors were capped at $200. Now you can get up to $1,500. But that's only if those doors and windows meet certain criteria.
    Windows, doors and skylights need a label from the National Fenestration Rating Council (NFRC) that says their U-factor -- a measure of how well they'll insulate the home from heat -- is no more than 0.30. The label also needs to list a Solar Heat Gain Coefficient (SHGC), which measures how much of the sun's heat penetrates into the home, of no more than 0.30.
    Still, qualifying windows are expensive, with most ranging from $270 to $1,100, says Susan Roeder, spokeswoman for Andersen Windows and Doors, a window and door manufacturer based in Bayport, Minn. Doors can start at around $840 and go as high as $2,500.
    Storm windows and doors can also qualify. The storm window's manufacturer certification statement lists the type of exterior windows, including single pane or clear glass, which it can be combined with to be eligible for the credit. Storm doors need to accompany a tax-credit-eligible wooden door without exceeding a combined U-factor of 0.30.

  2. #2
    Plumber jimbo's Avatar
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    Be careful about purchasing....or if you are a contractor, selling , this stuff based on anticipated rebates. These rebates are arranged through local agencies, and because of increased demand, the funding is lagging way behind the applications. When an agency pays out all the money they have for the quarter, or the fiscal year, no more applications are accepted until they get more. A lot of people have been burned.

  3. #3
    Extreme DIY Homeowner Scuba_Dave's Avatar
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    Actually this is a tax credit directly on your income tax return
    It's a 30% credit based on the purchase price
    I don't think it includes installation costs
    Last time they did this we received a $500 Tax credit (that was the cap)
    This time around we will receive $1500 - the cap
    This also includes insulation
    DIY Handyman (not 4 hire)
    I have enough to do to my own house

  4. #4
    Electrical Engineer Andrew P.'s Avatar
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    Obama isn't paying for anything. It's We The People who pay for everything through taxes and funds silently stolen from our savings through currency inflation. Unlike corporations, We The People can't even pass the taxes on to anyone. There is no such thing as a free lunch. Always keep that in mind.

  5. #5
    Extreme DIY Homeowner Scuba_Dave's Avatar
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    Well, I'm getting some of my $$ back
    DIY Handyman (not 4 hire)
    I have enough to do to my own house

  6. #6
    Senior Robin Hood Guy Ian Gills's Avatar
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    Thanks Cookie but due to some long and complex reasons we are not eligible for the tax credits you guys are, so this is another one that would not be of use to me.

    My wife and I are "non-resident" for income tax purposes. My visa is linked to my job. Lose the job and I - sorry we - have to go (we are given 90 days). Being "non-resident" has its disadvantages. For one, we did not get a stimulus check. And, as already mentioned, we do not get these energy perks. The big hit is not being able to claim mortgage interest back on our tax return.

    But it's not all bad though. For ten years, there are some financial benefits my employer gives me to compensate as long as I remain a non-resident for income tax purposes...an allowance every 3 months to maintain my other home in the UK. So mustn't grumble. When the ten years is up, I'll think about getting a Green Card. Then, I'll be classed as resident.

    Phew.

    Two of the four remaining basement windows I still need to fit will arrive on Monday. I cannot wait until next weekend to fit them. Fitting windows is even more exciting than plumbing. I am having trouble sleeping, I am that excited.
    Last edited by Ian Gills; 05-29-2009 at 02:34 PM.

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