Homebuyer's Credit

Barack Obama has loaned us $7,500 for our first house to be repaid interest free over the next 15 years so we decided to take the money since we owe the government this year. So we have some cash and since interest rates are 2% and this money really isnt enough to (a) buy another house or (b) generate enough interest, we are going to spend it on renovating the kitchen.

Well it isnt really the kitchen renovation 'cos that would need much more money, we just want to take our wall between the kitchen and the living room down. That entails moving the breaker box and installing a support since this is a load bearing wall. If we have any money left, we can look into finishing the kitchen - tiles, cabinets etc.

I called a trusted contractor to come out and take a look and give me quotes for the entire house reno including the bathroom and see what we're up against