Jan 19, 2016
Tax refunds are right around the corner. All the sudden you have an influx of cash but what will you do with all that money? One of the best returns on your investment would be to put some or all of your return directly into your home. It will pay off short-term by beautifying your home and in the long run by placing more money into your wallet.
Painting: One of the fastest and cheapest ways to see a return in investment is to paint the walls and ceiling of your home. Don’t go too crazy, thought. Nothing will turn off potential buyers or even guests in your home like a hot-pink wall. Make sure that the colors that you use are muted, neutral and light.
Curb Appeal/Landscaping: We all know the old saying, “Don’t judge a book by it’s cover” right? Well, everyone is judging your home by it’s cover; the exterior. Spend some money putting in plants or shrubs. Adding minor details like mulch and flowers will make your house really stand out. Also, rip up any cement that is cracked or uneven. Think about putting in stones or bricks as a pathway to the house to add a little flavor.
Front door/Garage door: A new front door is going to cost around $2,000 but it will make your home stand out and look like new. Adding a new garage door to that will also pay out huge dividends but is relatively cheap, costing anywhere from $400 to $1,000.
Solar Panels: Talk about saving by spending. Solar panels will definitely help to keep that hard-earned money in your pocket. It may seem like installing solar panels is going to cost a lot and be a hard process but there are many companies that can install the panels quickly at a price that will help you save money on your monthly power bills. Additionally, solar is green and will help to decrease your carbon footprint. Save money AND the earth, Win-Win!
Light Fixtures: Do you have rooms that are dark or maybe have old lighting? Update them immediately! When you walk into a room, if you can barely see the other side you should probably think about adding more light. Changing up the fixtures, adding hanging pendant lights or even a chandelier can totally change the outlook of a room.
Kitchen Appliances: This is something that will cost a little more than the other options. The kitchen is probably the best area to make your home stand out. By adding top-of-the-line appliances, your kitchen can add huge value to your home. Stainless-steel appliances are also very easy to clean, last forever and look amazing. It will accent the wood and counters and create a very modern look.
Add Storage: A complaint that everyone has when looking at a house is that there is not enough storage. You can never have enough. If possible, add more cabinets in the kitchen or bathroom. You can also buy portable storage that you can move around the house. Take a look at different Pinterest or DIY ideas for cheap and easy storage solutions. Remember, every inch counts.
Hot Tub: We have talked about various ways to increase your home’s value but when you get your tax refund, you want to spend it on something fun: A hot tub is just what the doctor ordered. Just imagine coming home from a long day at work and unwinding by immersing yourself in warm water while getting a water-jet massage. It will set you back anywhere from $3,000 to $7,000 to get a new hot tub but it will definitely be worth it.