If you remodel your bathrooms now you can save more than 10% on the cost of the project and continue to save for years to come. Bathroom remodeling now can save a bundle in four important ways:
  1. Take advantage of deep discounts on many materials and a number of bathroom contractors (due to the economic recession).
  2. Choose energy-efficient options and take advantage of Federal Income Tax Credits of 30% on qualifying items (up to a total credit of $1,500 per year).
  3. Check for State tax credits and power company rebates and credits.
  4. Reap the benefits of energy-efficiency for many years to come in greater comfort and lower electric bills. 
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This can all add up to some very big savings. For more on ways to save money when you remodel, visit SaveOnMyRemodel.com. Here are some of the details and ways to capitalize on the spring 2009 remodeling season.
 
  1. Take advantage of deep discounts on materials. Find a contractor who is offering discounts while maintaining quality work.   The current recession has affected almost RemodelOrMove.com: Bathroom Remodeling Workbook by Dan Fritschenevery business in some way. By remodeling now, you can take advantage of the discounts, help a few businesses, and get high quality materials and workmanship while saving big. Here are a few examples:
    1. Lumber and plywood prices are at a thirteen-year low. Prices declined steadily until October 2008 and then dropped even more between October 2008 and January 2009.
    2. Cabinetry manufacturers have experienced a huge loss of sales, and many are offering deep discounts. Between December 2007 and December 2008 sales dropped industry wide by 40%.This should help you when you buy new cabinets or a new vanity.
    3. Drywall prices have declined.
    4. Floor covering prices are being discounted by 10% or more.
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  1. Choose energy-efficient options and take advantage of Federal Income tax credits. The Economic Recovery Act of 2009 (“The “American Recovery and Reinvestment Act of 2009”) offers Federal Tax Credits of 30% of the cost of several remodeling projects that make a home more energy efficient. For new windows and exterior doors, insulation, roofing, HVAC and water heaters, you can claim a tax credit of up to $1,500 total credits in 2009 and 2010. Here’s how you can save on bathroom remodeling:
    1. Replace your bathroom window with a high-efficiency UV coated model.  The windows must have a U factor <=0.30 and SHGC <+0.30. You will be able to claim a tax credit for 30% of the cost of the window (up to total credits of $1,500).
    2. Install storm windows over the existing window. The storm window combined with the existing window must meet qualifying standards. You can claim a tax credit of 30% of the cost (up to total credits of $1,500)
    3. Add an energy-efficient skylight. Energy-efficient skylights and roof windows qualify for the same credit as windows.
    4. Use the right insulation. Insulation must meet the standards outlined by the International Energy Conservation Code or the 2004 Supplement to the 2003 code). You will be able to claim a credit for 30% of the cost (up to total credits if $1,500).
    5. Take advantage of the opportunity to claim the credits and upgrade your water heater to an energy-efficient model. Gal, Oil and Propane water heaters must meet an energy factor of >=0.82 or a thermal efficiency of at least 90%. They qualify for a tax credit of 30% (up to total credits of $1,500). Electric Heat Pump Water Heaters must meet the same criteria of Energy Factor >=2.0. They also qualify for the tax credit of 30%. However, if you choose a solar or geothermal water heating option that meets the qualifications outlined by the Solar Rating and Certification Corporation, you can claim a super credit of 30% of the cost of the solar or geothermal water heater with no limit on the amount of the credit you can claim.
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3.   Check for State tax credits and power company rebates and credits. Most states offer additional state tax credits for energy efficiency upgrades and remodeling. Many also offer low-interest financing for qualifying purchases. Many utility companies also offer rebates and/or lower rates for some upgrades. To learn what your state and your utility company offer, check this site: http://www.dsireusa.org.
 
  1. Reap the benefits of your remodel for many years in greater comfort and lower electric bills.  You will find that your bathrooms will be more comfortable and that your utility bills will be lower for as long as you remain in your home. 
 
For help with your bathroom remodeling, you might find our new book helpful: Bathroom Remodeling Workbook and our new Contractor Selection Workbook. For all of these reasons and opportunities to save, the time to remodel your bathrooms is now!