Home Buying Tax Credit and the Plumbing Professional

Plumbers can profit from taking a look at how government intervention helps change the home market, and what effect this can have on their particular industry.

You might have already known about this year’s tax credit for first time property purchasers. It is a definite advantage for those purchasing their first house. In the down market, the government has tried to present effective incentives to balance out the equation, and first-time homebuyers can expect 8,000$ in tax relief when they are purchasing a home under the right conditions.

Now, on the face of it, this may have absolutely nothing to do with plumbing. But here’s the thing: one of the first tasks for these first-time homebuyers, if they are buying foreclosed, or buying any home that needs fixing up, is to get comprehensive price estimates for home systems that need to be upgraded or repaired.

This is where professional plumbers can make amends by offering their services in conjunction with specific first-time hom ebuying situations – it’s all about offering “estimates” that first-time home buyers can plug into their equation to be more knowledgeable about the total cost of what they may be buying, in order to more accurately plan to purchase and have a greater effect on the market.

As a professional plumber, you can work as hard as possible to build the best estimates that first-time homebuyers can understand, and that will help them to contemplate all of what they can put into a house that will get them a good resale value later on, and investment they can bank on, and something that will be livable, even for a conservative down payment and investment.

You might find that as you offer this service and word of mouth spreads, you’ll have carved out a profitable niche for yourself. Clients will appreciate detailed estimates that can show them how to handle their own investments by knowing what they will need to pay to get them up to the right standards for running water and more.

This kind of strategy can prove very beneficial to a shop that is able to adapt to the changing conditions of today’s market. Instead of just completing a set of residential tasks, think of your shop as a consulting center for young home buyers you need a lot of input on just what is needed to generally fix up a home and keep it in good shape for possible resale. Extend information to clients on the relationship between tax credits and purchasing a new home, so that those who look poised to buy may use your services if they do.

Strategies like this differentiate contractors who flourish, even in tough times, and those that have to close their doors. But by using a little creative thinking about how to provide that outreach and is best estimates, you may be positioning yourself for a bright future in the plumbing industry.

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