The IRS Favors Green Over Every Other Color (And We're Not Just Talking 'Money')
Many Indianapolis home sellers prepare their home for listing with cosmetic changes such as paint and reflooring, but 'green' thinking can give an additional boost to value and grab a federal subsidy.
Homeowners who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in their home can receive a tax credit of up to $500 from the IRS.
In addition, 30% of the purchase cost for qualified solar cells and for solar water heating (used exclusively for purposes other than heating swimming pools and hot tubs) can be refunded, too -- up to $2,000 per household .
There are more energy-saving credits available, too. The U.S. Department of Energy lists all of the credits available to homeowners and those credits come right off of your tax bill come April 15.
A home on the market that features energy-saving upgrades carries a unique appeal to buyers and proves that not all home improvements are not equal -- especially in the eyes of the IRS.