When the economy is getting hammered, it’s a good time to hammer. Contractors are less busy and therefore more willing to bargain. (The Harvard Joint Center for Housing Studies puts out a nationwide remodeling statistic known as LIRA — the Leading Indicator of Remodeling Activity — and it looks to be dropping.) Maximize your chances of getting money back when you sell by focusing on the kind of projects that usually improve property values: installing more energy-efficient windows, adding a bath and updating a kitchen, for instance. In fact, eligible windows installed before the end of this year can earn you a $200 tax credit. And certain alternative-energy products, such as solar power systems, wind energy systems and geothermal heat pumps, are eligible for tax credits through 2016. (The regulations are written pretty specifically, so consult the tax code.)
15 Financial Moves to Make Right Now
Renovate Wisely
Full List
Financial Moves to Make Now
- Refinance Your 30-Year Mortgage into a 15-Year Loan
- Buy Stock in Companies with More Cash than Debt
- Get Comfortable with Your Portfolio
- Buy Stocks with the Highest Credit Rating
- Open an Online Bank Account
- Apply for a New Credit Card (if You Have Great Credit)
- Buy Top Consumer Brand Stocks
- Transfer Outstanding Balances to a Credit Card with a Better Rate
- Buy Telecoms That Have Exclusive Deals with Apple
- Renovate Wisely
- Buy Oil Stocks
- Sign Up for Alerts
- Buy Residential Real Estate
- Sell (at Least Some of) Your Gold
- Buy Natural Gas Pipeline Stocks