As the economy continues to clunk and sputter along like a car with its “check engine” light glaring in the night, Lincoln, Nebraska homeowners wonder: do we invest in a home remodeling project or do we start fresh and investigate home building financing and contractors?

The good news for consumers: it is truly a buyer’s market.  The rates for both home building and home remodeling are at near historic lows.  The bad news: money is tight – particularly for new home construction.  Banks continue to take hits as home defaults are expected to reach an all-time high in 2011.  The good news: if you have equity in your existing home and a good credit history, you can get a lot of bang for relatively little buck by remodeling your home.  In tough economic times, remodeling usually makes the most sense.

In addition, there are federal and state programs available designed to encourage consumers to upgrade their homes to make them “greener” and more friendly to the environment.  Tax deductions and other incentives from utilities are available in Lincoln to assist with the conversion to high-efficiency heaters and air conditioners.

Talk to your financial adviser, friends who have remodeled their home or had additions put on. Seek their advice and counsel on the best rates, and the best general contractors. Get a recommendation from folks who have been in the construction supply business for years like the professionals at earlcarterlumber.com.  Talk to several home builder/remodelers and get ideas on how to improve your living space.  Chances are investing in your home now while rates are low will insulate you from costs that will likely rise later as the economy rebounds.