We are all guilty of splurging and spending our tax returns on things that we really don’t need. Although a new TV may feel gratifying at first, you could regret it in the long term. Make decisions this year that will benefit you financially and then use the money you receive in ways that will actually earn you even more money.
If you are not already a home owner, then this is without a doubt, one of the best uses of your tax return. Years of renting can leave you weary due to soaring rental prices and malfunctioning appliances. You are also missing out on the advantages of building equity and the freedom that owning your own home brings. Your tax refund can be the perfect source for a down payment on your home ownership dreams.
If you are already a home owner, here is a list of great renovations that can add value to your home using the money you receive back from your tax refund.
- Bathroom Remodel
A brand new bathroom is a relatively simple way to add value to your home. Not only are bathroom remodels beneficial for reselling, but they can create an even more peaceful atmosphere and look great!
- Kitchen Remodel
The kitchen is one of the first rooms a potential buyer looks at. If you ever have plans of selling your home, a kitchen upgrade is a great investment.
Landscaping is a good way to add curb appeal and help you enjoy relaxing outside your home.
- Exterior & Interior Paint
Give your walls an improvement. Whether it’s inside or out, brand new paint will give life to your home.
- Deck, Patio or Porch Addition
Although they are on the costlier side of renovations, a new deck, patio, or porch addition can add significant value to your home and make your summers much more enjoyable.
If you or someone you know are interested in buying or refinancing, click here to get started.