YOUR MONEY Financial Tips For Home Improvements (NAPSA)—There’s noplace like home, especially when it comes to making improvements. According to a survey by Wells Fargo & Company in early 2010, the length of time that U.S. homeowners plan to stay in their house is now up to 16 years. That length of time has been increasing by an additional year every year since 2007, which may explain why “upgrading and remodeling” is now the top priority for homeowners. This year, improvements to make hance the way your home looks may earn you a tax credit. Home improvements can en- and make it more comfortable, but this year, some improvements to increase energy efficiency may also earn you a tax credit. For example, you mayreceive a tax credit for insulation, replacement windows, certain high-efficiency heating and cooling equipment and low-water-usage landscaping. Here are a few improvements cited by GreenandSave.com that can help you lower energy costs: *Replacing windows can reduce your energy bill up to 15 percent. *Sealing ducts and adding insulation to prevent heat loss can make a big difference, since 50 percent of the energy a singlefamily house consumes goes toward heating and cooling. Exchanging an old furnace and thermostat for a high-efficiency one can save as much as $300 a year. Learn more about green remodeling—and other improvements that can add value to your home more energy efficient your home—at wellsfargo.com/ homeimprovement. Using Home Equity Many homeowners use their home equity to pay for large pro- jects and improvements. Home equity financing typically has lower interest rates than many other forms of unsecured credit and potentially includes benefits such as tax-deductible interest. (Check with your tax adviser.) Keep in mind that with this type of credit, your home serves as security for repayment. When you’re ready to apply for home equity financing, you can make the process faster and easier by collecting all the necessary information and documentation up front. Learn More For more information about homeequity, you can call (800) 7434326, or to learn about other financing options, visit wells fargo.com/smarter_credit.
