Use a Tax Refund on home improvements to boost your homes resale value
February signals the start of tax season, a time when many Americans gain nearly $3,000 on average in the form of a tax refund, according to the IRS.
Splurging on a vacation or iPhone X is tempting, but as a homeowner, sinking refund cash into your house may be smarter, especially if debts are already under control.
Even small home improvements can nudge home value — and your quality of life — in a positive direction. But how do you decide what to do?
Well, how long do I plan to stay in the home? The answer will dictate how much you should spend on home improvements and which projects to prioritize.
If you’re staying put, focus on changes that make your life better and improve value, and fix what’s broken before thinking about curb appeal.
Here are some home improvement ideas in several price ranges so you can put that tax refund to work.
Replace cabinet hardware. Changing knobs or handles is fairly simple, but can give the whole room a new look.
Seal the driveway. You’ll reduce unsightly cracks and slow deterioration of the concrete or asphalt.
Get the HVAC system serviced. Regular cleaning can add 10 years to the life of your system.
Add a tile backsplash. Backsplashes provide an instant transformation at a fraction of what a full kitchen remodel costs.