10 Ways to Use Your Tax Refund to Improve Your Home

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10 Ways to Use Your Tax Refund on Home Improvements

10 Ways to Use Your Tax Refund on Home Improvements

By: Jenny Zhang

Home improvement doesn’t have to be expensive. If you received a tax refund this year, one great way to spend that cash is to do simple home repairs. A small investment in your home can have a big impact on your home’s perceived value when it comes time to sell – and until then, can make your home more pleasant and livable for you and your family.

If you’re thinking about selling your home, get in the know now about your home’s value and your home buying potential. You can snag all the tools and information you need online and for free – like a home value estimatecredit report and score, and home loan recommendations – at sites like theimk.com.

For the millions of Americans who are getting money back from Uncle Sam, here are ten great ways you can use that extra cash to improve your home:

1. Paint. Yes, it’s that simple! Paint typically costs under $50 and can make a dramatic improvement to your home’s appeal. So, strip off the old wallpaper and sand off the walls for a fresh coat. Keep in mind – If you’re looking to sell your home soon, neutral colors are better for potential buyers.

2. Yard work. Make a solid first impression by improving your home’s curb appeal. Mowing, weeding and growing basic plants are all inexpensive projects; they take only a little bit of your time and energy.

3. Replace bathroom fixtures. Bathroom and kitchen fixtures may work fine for a long time, but the finish will corrode and lose its shiny coat. Replace knobs and other fixtures to give the bathroom or kitchen an updated look.

4. Refinish kitchen cabinets. Replacing kitchen cabinets can be pricey, but stripping the finish and painting or refinishing them can give the look of new without the cost of new.

5. Power-wash the outside of your home. Keep the outside of your house looking its best and add a coat of paint if needed.

6. Build a deck. Decks are relatively simple projects that don’t necessarily require outside help or immediate completion, so free up a few weekends to improve the outer look of your home.

7. Research your housing market before installing a pool. Pools don’t always increase the value of your home. In fact, in some parts of the country, a pool may actually decrease your home’s value. Like any home improvements, make sure to weigh your personal use and enjoyment with the effect on your house value.

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 in the corners and edges of your house? Get thick moulding to cover those spaces while adding a bit of character to the room.

10. Install organizers. Messy basement? Cluttered garage? Build simple shelves and organizers for neat storage. If you’re selling your home, a few simple organizers will help buyers focus on how much space the home has, instead of how much stuff is in it.

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This article was originally featured on Quicken Loans Mortgage News, where personal finance writer, Jenny Zhang, specializes in writing about home buyingrefinancing and money saving tips.