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Top 10 Tips to Use Your Income Tax Refund for Home Improvement

Home improvement doesn’t have to be expensive.  If you’re getting a refund on your tax returns, one great way to spend that money might be to do some simple home repairs.  Most small projects that make a big impact are actually relatively cheap and easy to do.  And by spending a little money towards improving the look of your home – you can really increase your home’s perceived value when it comes time to sell!  If you’re among the millions of Americans who are getting money back on their tax returns, here are ten great ways you can use part of that towards improving your home.

F7AT18721 300x199 Top 10 Tips to Use Your Income Tax Refund for Home Improvement

  1. Paint. Yes, it’s that simple. Paint usually costs under $50, but can make a dramatic improvement to your home’s appeal. So, strip off the old wallpaper and sand off the walls for fresh coat of paint. Keep in mind though, that if you’re looking to sell your home soon, neutral colors are better for potential buyers.
  2. Yard work. Yes people are coming to see your house when you want to sell it, but curb appeal makes a huge difference on first impressions. Mowing, weeding, and growing some basic plants are all cheap but time consuming projects that will contribute to a better package deal for buyers.
  3. Replace bathroom fixtures. Bathroom and kitchen fixtures may work fine over a long period of time, but the finish will corrode and lose its shiny coat. So replacing these knobs will naturally give the bathroom or kitchen a more updated look.
  4. Refinish the kitchen cabinets. Replacing kitchen cabinets can be pricey, but striping the finish and painting or refinishing it can give a new look without the cost of new cabinetry.
  5. Powerwash the outside of your home. Keep the outside clean and add a coat of paint if needed.
  6. Build a deck. Decks are also relatively simple projects that don’t require outside help or immediate completion, so free up a few weekends to improve the outer look of your home.
  7. Don’t install a pool to increase the value of your home. Pools actually decrease the value of your home, so be sure you’re getting a lot of personal value out of it before putting one in.
  8. Replace laminate with tile. Compared to many other materials, tile is relatively cheap and easy to install yourself.
  9. Install decorative moulding. Have cracks and imperfections around corners and edges in each room? Get thick moulding to cover those spaces while adding a bit of character to the room.
  10. Install organizers. Messy basement? Maybe too much stuff piled into the garage? Build simple shelves and organizers for neat storage. This way, buyers will focus on how much space the home has, instead of how much stuff is in it.

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2 Responses to “Top 10 Tips to Use Your Income Tax Refund for Home Improvement”

  1. Home Improvement April 13, 2010 at 1:27 am #

    Home improvement is the process of renovating or making additions to one’s home. Often, a professional contractor is hired to perform the improvements as per the home requirement.

    Thanks for Sharing.

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  1. Can I claim home improvement expenses with my taxes? | Home Decor Bathroom - April 6, 2010

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