6 Best Ways to Invest Your Tax Refund in Your Home
Jan. 15, 2018 at midnight
Ah, tax refund season cometh. With all the things that come to mind, it may be difficult for you to decide what to do with it. Spend or save? Or both?
One way you can accomplish both is home improvement. You could consider your home an investment, like a savings account. With home improvements, you can spend, enjoy, and you still have real dividends. If you invest your tax refund on improvements that modernize your home, you increase its value. On the quality-of- life side of the equation, you likely to love your home more than ever.
Here are the six best ways to invest your tax refund on home renovations that will increase both its attractiveness and piggy bank value:
1. Something as simple as a new backsplash with a catchy design can make a kitchen “pop.” If you are more into matching, then you can have the new backsplash compliment and better blend with the rest of your kitchen. This is an inexpensive fix, and your visitors will notice.
2. Perhaps your carpeting has seen its day, or you would like to replace the tiles in the kitchen or bathroom. These improvements quickly add value and beauty to your home and are not very expensive.
3. Have you always wanted to replace those kitchen cabinets? Treat yourself with your tax refund and get it done. Kitchen cabinetry comes in three basic types: stock, semi-custom and custom cabinets. Try to use high-quality stock cabinets that will fit the space you already have. Your investment/payback ratio will be better.
4. If there is anything that instantly shows the age of your home, it is the bathroom. If you were to browse through pictures of homes for sale online, the bathrooms are a sure sign that the home has not been updated. If it looks old, it is a big clue regarding the rest of the house. By the way, choosing a professional is important in all of these guidelines, but when it comes to plumbing, you want a pro.
5. Another great way to increase the value of your home is to have some landscaping done. Landscaping increases the curb appeal and value of a property. Remember that maintenance is key to keeping it looking beautiful.
6. Countertops: Where to start? The types, styles, colors, and finishes are seemingly endless. One thing to consider is that these days granite countertops are more affordable than ever, and greatly add to your home’s value and appeal.
So, there you have it. Happy investing in your home!