If you are one of the many of Homeowners who are not First Time Home Buyers, but you are seeking to save money in the future………..

President Obama signed the Economic Stimulus Bill on Tuesday, February 17, 2009. In this Bill he increased the 2008 First Time Home Buyer’s Credit from $7500 to $8,000.  He made the 2009 $8,000 tax credit refundable. You can familiarize yourself with my post on this REFUNDABLE CREDIT if you haven’t already!

Now, I know that as time passes, we need to make repairs and adjustments around our homes. Some of the homes that we buy aren’t purchased brand new and are still in need of some form of renovations or maybe you just want to change a few things up for a new look. Well, whether your home is in need of repair or you just want to modernize your home, you may want to keep these points in mind as they are included in the stimulus package (More than $42 Billion dollars was allocated in this bill for Energy-Related Investments):

• You can receive up to $1500 or a 30% tax credit when you purchase high efficiency residential
  • Heat Pumps
  • Air Conditioners
  • Furnaces
  • Add additional Insulation to your attic
  • Replace drafty windows

Now, I know you all may react like, “Is this incomplete?”, but this is all that I could find at the moment. I am continuing to research..If anyone else has any other factual information, please email it to me kj@diverseneeds.com. I also will note that some of these home improvements will cause a decrease in your utility bills monthly. So, you will receive a savings there as well!

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