It's that time of year again! If you didn't procrastinate on filing your taxes, you may already have gotten a refund. The average family gets about a $3,000 tax refund, clearly enough to reinvest into an IRA, college savings account, or future mortgage payments. However, you can make this "extra money" also work for you by spending it wisely to improve your own home. With the housing market on the rebound, the more you invest in your home, the more it will be worth on the open market.
So today we have 5 great ideas on how to spend your tax return to make your home more comfortable and ultimately profitable in the long term.
Stop Those Drafts: Replace Old Windows & Doors
This is a blog for a window replacement company, so obviously the 1 thing on our list is replacing your old windows and doors! Many people were calling us this winter desperately needing their old windows replaced because they could feel the bone chilling cold air seeping through their windows and doors. Upgrading to energy efficient windows saves you money and makes your home more beautiful inside and out. If your windows don't need upgrading, consider a new entry door or sliding patio doors. A gorgeous custom front door drastically improves the curb appeal of the home and can be more affordable than replacing a dozen windows. If you choose energy efficient windows and doors you also may be eligible for some energy tax credits for next year!
Need Ideas:Check out our window and door options
Bring on the Curb Appeal: Upgrade the Landscaping
Didn't get as much as you wanted in your tax return? Upgrading the landscaping in your front yard can be an inexpensive fix that enhances curb appeal and will allow you to enjoy your yard all summer! Hire a professional landscaper who will work with you on your plan or buy plants from your local gardening center and plant them yourself. You could even create a small herb or vegetable garden with the kids — everyone loves outdoor family bonding activities!
Need Ideas: Check out 15 easy landscaping ideas
Modernize: Buy New Energy-Efficient Appliances
Need a new washer/dryer, refrigerator, or dishwasher? Your tax return is the perfect time to do it. These big ticket items can take a chunk out of your bank account, but they can be worth it. If you update to a newer, energy-efficient appliance, you will improve the look of your home and save money year-round on energy bills. A new refrigerator instantly modernizes your kitchen and can make your life a lot easier with more effective storage space. And a new washer or dryer can reduce energy costs and valuable time spent on tiny loads of laundry. Again, certain appliances may even qualify for an energy efficiency tax credit!
Need Ideas: Check out the most energy efficient appliances
When There's Smoke . . . Clean Your Chimney, or Buy a Fireplace!
Did you always dream of cozying up next to a fireplace, but your home doesn’t have one? I have your solution! A ventless fireplace offers the mood setting ambiance of a fireplace without the need to vent the smoke outdoors. They have both gas-run, electric-run, and gel-run units that vary in price to fit your budget/needs. Or, if you have a fireplace, when is the last time you had your chimney cleaned? It is inexpensive but vital. Not cleaning your chimney can cause disastrous fires that could bankrupt you financially. So use that return to hire a professional chimney sweeper!
Need Ideas:Check out ventless fireplace designs
Discover Your Inner Picasso: Repaint Your Home
Many people underestimate how important the paint color of each room is to the overall feel of your home. A new coat of paint can revitalize a room and instantly make your home look more modern. Updating the color can not only make your home look better, but it could transform the function of the room and spur a whole home redesign. Want to convert your family room into a formal living room? Start with the paint. Ready to turn a nursery into a home office? Changing the baby pink, blue or canary yellow walls is definitely needed to create an effective work environment. However, if you are thinking about selling your home in the near future be sure to select neutral colors. Extreme colors could distract potential buyers.
