Do's & don'ts of home renovations.

Position:Money - Brief article
 
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DO take advantage of tax incentives. With the purchase of certain energy-efficient products for homes that are owner-occupied, you may be eligible for special local, state, and federal tax credits. The federal Residential Renewable Energy Tax Credit offers purchasers a 30% rebate. The Residential Energy Efficiency Tax Credit provides up to a total $500 credit for 2011, 2012, and 2013 collectively. Go to www.energy.gov for details. "This includes certain appliances, windows, doors, low now toilets, insulations, and even heating and air conditioning," says Brinkley. "Also, there are tax credits on solar panels, solar water pumps, solar water heaters, and small wind-energy systems."

DON'T just accept the lowest bid you're offered. Get at least three bids from certified contractors; also, verify credentials with your state's licensing board. The Contractor's License Reference Site (www.contractorsIicense.org) provides links to licensing boards in every state. Make sure the contractor has vehicle coverage as well as liability insurance, which covers damage to you...

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