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MOORESVILLE, N.C., April 25 /PRNewswire/ — Newfound money may be coming to a mailbox near you in the next several weeks, but before you wish it away on short-term fun, the experts at Lowe’s and money magazine are making it easier to invest that money in what is, for most people, their single largest asset — their homes.
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“Every month money magazine offers tips to its readers on how to best invest their money and make well-informed decisions while navigating the current housing market,” says money managing editor Eric Schurenberg. “Now, more than ever, it is important to understand how smart choices in home improvement can keep costs down and enhance your property’s value.”
“We always want to have our cake and eat it, too,” said Nick Canter, executive vice president for Lowe’s. “With the influx of funds from the economic stimulus package, homeowners can have it both ways: They can make a long-term investment that will protect or enhance the value of their home for the future, plus enjoy the improvements right away. Investing in your home can provide both immediate and long-term fulfillment.”
Whether it’s a simple, energy-saving project, or a full face-lift for the home, there are many inexpensive options for maintaining or upgrading a home. To help consumers make smart choices about home improvement projects that may add value to their homes, Lowe’s and money magazine have created Lowes.com/HomeWise, a web site with dozens of project ideas and handy tips for home improvements that can save money or increase curb appeal. For example:
Save Energy, Save Water, Save Money
— A clogged air filter can slow air flow and hurt efficiency. A new one
can save up to $100 a year.
— Blanket a water heater with insulation to save 5 to 10 percent on
energy bills. Reducing the temperature by 10 degrees saves another 3
to 5 percent.
— An ENERGY STAR(R) qualified appliance, including refrigerators,
freezers, washing machines and dishwashers, can save in energy costs.
— Low-flow showerheads can save about $65 a year in utility costs.

Smart Home Maintenance
— Check for leaks around dishwashers, refrigerators and washing machines
every year and replace worn hoses. Appliance wear and tear causes 30
percent of water-damage claims.
— Walk your house top to bottom every three months to look for loose
nails, holes, cracks, sags, soft spots and bulges in the walls. Also,
be sure to check for leaks around the doors and windows, which can be
easily repaired with caulk or weatherstripping.

Projects with Payback
— For one of the best returns on home investment, install vinyl windows,
which can recoup up to 81 percent of their costs in increased resale
value.
— Remodel a kitchen to return as much as 80 percent of the cost in added
house value. Kitchen facelifts under $10,000 can return 100 percent or
more of the cost.
— Renovate a bathroom to add up to 20 percent to home value.
— Upgrade landscaping to raise home value by 5 to 11 percent.

Best Investments when Selling Your Home
— Put fresh mulch on planting areas, trim shrubs and add colorful
annuals to planters on the front porch.
— A fresh coat of paint in neutral colors helps potential buyers imagine
themselves in the home.
— Do it yourself with projects that help a home say “buy me:”
- Tile the entryway floor
- Paint the kitchen cabinets
- Install a clear glass shower door
- Update the dining-room light fixture
- Install shelves in the living room

“Even in the current housing environment, there are endless possibilities of simple, affordable home improvement projects that can help reduce utility costs, maintain your house and grow its value. Using an unexpected windfall, like a tax refund or stimulus check, to improve your home can be a smart investment with lasting results,” added Canter.
Customers can cash their stimulus checks at any Lowe’s store to make it easier to put their money to work right away. For more information on home improvement projects that can add value to your home, visit .
About MONEY
MONEY is the nation’s largest personal finance magazine. With a circulation of nearly 2 million and 7.4 million total readers, it remains twice as large as its nearest competitors. MONEY’s mission is to help readers make better decisions about money, not just in their investment portfolio, but in all areas in which life and money intersect — family, home, health, finances, career, spending and their future. MONEY, along with FORTUNE, FSB: FORTUNE Small Business, and the website CNNMoney.com, is part of The Fortune/Money Group. Time Inc. is a division of Time Warner, a leading media and entertainment company.
About Lowe’s
With fiscal year 2007 sales of $48.3 billion, Lowe’s Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 14 million customers a week at more than 1,525 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe’s is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

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