When tax season ends, and you get your return, it is always tempting to blow your cash on something fun. Who could blame you? However, you might want to think about upgrading your home instead. Doing so is an excellent way of improving your life for the long term in many small ways.
See What’s In Your Budget
Many tax refunds are made every year (around 119,853,012 in 2017 alone), each with varying values. As a result, you should wait until your return comes before you start any project. Too many homeowners create these unique renovation plans only to scale back heavily later.
So start by engaging with your budget to see what you can afford and begin making plans from there. Talk to your tax preparation experts to get an idea of how much money you’ll get back. These professionals are usually pretty accurate, so you shouldn’t have much difficulty getting an accurate understanding of your taxes.
Upgrade or Install a Deck
An attractive deck is a significant investment that will provide you with a good return on your investment. They offer a fun place where you and your family can hang out during the summer, make your house more appealing to a more significant number of people, and increase your resale value.
If you already have a deck, it is good to consider improving it in many ways. Repair random damaged spots, add new boards and support elements, restain the surface, and take other steps that help to ensure you are delighted with the result of your new upgrading process.
Add Wall Decor
Wall decorations are a significant investment with your tax return because they are often inexpensive, last for generations, and give you a high-quality look that may last for years. Buying new art is also a significant investment because it may increase in its value and make your house worth a little more money.
What is particularly interesting about this approach is that you can support American artists by buying these paintings. That’s because American artists are present in 40% of all art collections around the world. As a result, you should find a local artist who can help you out in this way.
Install Smart Devices
Did you know that nearly 20 percent of all homes throughout the nation have some kind of smart device? If not, it is worth understanding the nature of these items to get an idea of how they can help you. Smart home devices are items that synchronize the operation of your house to your smart devices.
For instance, you can control your security systems in this way, including locking your doors when you’re away from your house. You can also add lightbulb control, HVAC management, and much more. These options make sense for your tax return because they can be pretty costly.
Consider a Bathroom Renovation
There’s a good chance that your bathroom is in rough shape without you realizing it. This statement is not a judgment on our part but a simple recognition of a fact. Too many people let their bathroom get in pretty rough condition and need to renovate it when they get money from their tax return.
There are many reasons why you might want this type of renovation. Firstly, it helps to ensure that your guests are comfortable when going into this room. It also helps enhance the value of your house, as bathroom renovations typically have a return of investment rate of about 70% of your investment cost.
Spend Your Cash Wisely
As you can see, this type of home renovation is a critical step to make if you’re looking to make your house more livable. It is much better than taking a vacation or putting a downpayment on a new car. And it will last a lot longer than either of these investments, as well.