No Foolin’! Your New Roof May Earn You Up to $500 in Tax Credits
It will soon be that time of year. I’m not sure which they thought of first, April Fool’s Day or Tax Day. But I guess we could use a little levity before the dreaded tax man’s favorite day arrives. While no one likes to think about paying taxes, preparing those tax forms does force all of us a look at our finances annually. That makes now a good time to think about ways of saving money and reducing your future tax bill. Maybe finding ways to save will offer you a little glimmer of sunshine in an otherwise gloomy season. I’ve done some research on this topic recently, and I’ve learned that you can install a new roof and save money. Now that’s something that should make you smile.
A New Roof Plus $500? Really.
It may seem hard to believe, but it’s true. If you install a new qualifying roof between now and December 31, 2016, you may be eligible for a tax credit of up to $500 from the federal government. If you meet all the necessary criteria and haven’t claimed this credit before, you can receive a rebate of up to 10% of the cost of your new roofing materials. The roofing materials you choose must be Energy Star approved and installed on your primary residence. Energy Star roofing materials are designed to reflect light and heat away from your home. Many of our modern and attractive metal roofing products are Energy Star rated. Several asphalt shingle options qualify for the program too.
You can visit the federal Energy Star website at EnergyStar.gov to get more information on exactly how to qualify for this rebate. Just make sure that you purchase and install your new roof this year as the Energy Star rebate program has not been renewed for 2017.
More New Roof Savings
Installing a new roof might not be at the top of your list of ways to save money, but you will be surprised at the benefits installing a new roof can bring. When you consider the annual financial savings, potential return on investment, and increased comfort and security a new energy efficient roof brings, investing in a new roof starts to look like a great way to save. Here are just a few of the benefits you’ll get from investing in a new roof for your home:
- Cool Energy Savings: Installing an Energy Star rated “cool” roof saves you money in two ways. First, a reflective roof decreases the demands made on your cooling system during peak usage periods. You’ll reduce wear and tear on your home’s air conditioner and avoid costly repairs. Plus, with more efficient cooling, your overall energy consumption cost for cooling your home will be lower as well.In addition, when you have your new roof installed, you can inspect and upgrade your ventilation system too. Proper attic ventilation is an often overlooked factor in managing heat and cooling in a home.Many regional power providers in Florida participate in rebate and loan programs to encourage homeowner’s to move toward greater energy efficiency. You can visit MyFloridaEnergyHome.com to find out more.
- Reduced Insurance Costs: Florida law requires insurers to offer discounts on hurricane-wind insurance coverage for homeowners who make wind mitigation improvements. Installing a new roof offers you the opportunity to repair and upgrade your existing roof structure and take advantage of these discounts at the same time.By making wind mitigation improvements, Floridians can reduce the hurricane-wind portion of their insurance premium by up to 88%. While you won’t receive the total discount for just installing a new roof, each step you take to reduce the chance of wind destroying your home qualifies you for additional discounts.Our team at Callaghan Roofing here in Tallahassee can conduct a full wind mitigation inspection and identify all the possible areas of improvement for you. Then, our experienced installers can get to work making sure your new roof and substructure are at their best to protect your home from wind damage.
- Improved Safety: Wind mitigation is about more than just reducing your insurance premiums. Years of research and testing have demonstrated that the better your home is prepared to weather Florida storms, the more likely you are to keep your home and your possession intact. Your roof is the first line of defense against wind and water damage to your home and belongings. At a cost that represents a small fraction of the total value of your home and possessions, you can install a new roof with all the latest wind mitigation features.You can find a detailed list of the steps to take to protect your home at FloridaDisaster.org.
- ROI: A new roof is one of the best investments you can make in your home. Not only will you enjoy the ongoing savings and security of your new roof as a homeowner but should you decide to sell your home, a new roof can generate a 60% return on investment.
Take a Look at the Numbers Then Give Us A Call
There are just a few more months until hurricane season arrives, and the days are getting warmer. With all these benefits plus a rebate of up to $500, there couldn’t be a better time to install a new roof on your home. If you are ready to learn more or want to schedule a wind mitigation inspection, give us a call. We serve all of the greater Tallahassee
area and we’ll be happy to help you secure your home and save money.