Tax Refund? Use it to Invest in Your Home

Tax Refund? Use it to Invest in Your Home

There are many ways you can spend your tax refund, including using it to take a trip, go on a shopping spree or make a “frivolous” purchase you ordinarily wouldn’t. You also can bank it, or you can use it to add value to your home, an especially wise investment if it’s getting a little long in the tooth.

You may be perfectly happy with your old homestead, but it’s a good idea to take a look around to see what may need updating. Even if you don’t plan to sell in the foreseeable future, using your tax refund to make some simple renovations to modernize your home is a smart play.

Authentic Designs & Remodeling can work with you to identify updates that will provide value now and in the future. Consider the following:

Wall Updates

If you have brightly painted walls or chintzy patterned wallpaper, you may want to swap bold and busy for a more neutral, modern wall treatment. Also nix wood paneling, which was all the rage in the ‘70s. Replace this dark and dreary wall treatment with something lighter and more modern or just slap a few coats of white paint on it to instantly brighten a room.

Floor Updates

Adios linoleum, which often looks cheap and weathered after years of use. There are plenty of options to modernize floors with tile that looks like stone, hardwoods and laminates.

Is your bathroom carpeted? It was probably built in the ‘90s, when that was considered a good alternative to cold tile. After years of use, the carpet pad underneath is likely moldy. It’s best to rip it out and replace it with a ceramic or natural stone tile— and use a bathmat to protect your tootsies from the cold.

Kitchen Updates

A number of things can make a kitchen look outdated, but the top three are probably white appliances, glass mosaic tile backsplashes and tile countertops. It’s a good investment to replace dated appliances with those that are black or stainless steel; replace an old backsplash with one made of glazed porcelain, natural stone or white subway tile; and replace hard-to-clean, passé countertops with sleek, modern quartz or granite.

Whole Home Updates

Got popcorn ceilings? You’ll definitely want to get rid of them before you sell, so why not now, when you have some extra cash?

One final simple modernizing fix is eliminating old-fashioned gold fixtures and hardware from your home. Better, more modern alternatives are silver, bronze or brushed nickel.

As you can see, whether you got a huge refund or one that’s more modest, you can put it to use to bring your home into the 21st century — an investment that will always pay off.

by Dean Jones in Home Remodeling | 0 comments

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