Are you getting back a big tax refund this year? About 80 percent of Americans get some amount of money back each year at tax time, and it’s exciting! What will you do with it? While you might be considering taking a vacation or making a fun purchase, we have another suggestion. This year, why not take that tax refund and invest it back into your property?
Assuming you’ve got your debt under control, investing in your home is a good idea because taking care of your property can nudge its value upwards. The kind of investment you decide to make depends on how much money you’ll have to spend, but you should also think about whether you’re planning to sell your home or continue to live in it. Another consideration, of course, is whether your home has a problem that needs to be fixed or could use a superficial boost. Focus on what’s broken before you look to the aesthetics, but consider these options as a good place to spend your tax refund.
Invest in Your HVAC
Your heating and cooling season might benefit from a service call or having the ducts cleaned. If your refund is hefty, you might even consider upgrading to a more efficient or eco-friendly model. Improving your HVAC means more comfort while you live there, and value-added if you should decide to sell.
Spruce Up Your Kitchen
Kitchen upgrades have a high return on investment when it comes time to sell your home, and they make the kitchen more enjoyable while you are still living there. Since most families spend a lot of time in the kitchen, it’s a great place to invest a little bit of extra cash. If you only have a little bit to spend, try a minor update like changing out the cabinet hardware or applying a fresh coat of paint. If your budget’s a little more expansive, consider a tile backsplash or some new countertops.
Work on the Curb Appeal
Put in some pavers, improve your exterior lighting, install some flower boxes, plant some shrubs, or repaint your front door and the trim around your windows. Little improvements can make a big difference to the appearance of the outside of your home. You might also consider replacing the front door entirely, or sealing your driveway to prevent cracks and deterioration.
Upgrade Your Flooring
Rip out the rugs and buy into some beautiful new hardwoods. Quality hardwood flooring is an investment, to be sure, especially if you decide to use professional installers. It’s well worth the cost though because putting in wood floors is a big hit with home buyers. In fact, you can expect a return of 1.5 to two times the cost of the flooring when it’s time to sell. What’s more, as long as you live in the house you’ll enjoy the aesthetic and practical appeal of the new floors.
Improve Your Home’s Energy Efficiency
If you’re planning to sell, an energy-efficient home will appeal to buyers. If you’re staying in the home, boosting its efficiency will make it more comfortable and save on utility bills. Either way, it’s a win! Some improvements to consider include installing new insulation in the attic, replacing old appliances like the refrigerator or dishwasher, or upgrading your water heater in favor of a tankless model.
Improve Your Outdoor Living Space
Update your fence, buy some new outdoor furniture, or install a fire pit. Want to splurge? Build a new deck or install a simple outdoor kitchen. An outdoor kitchen is a great way to enhance your entertaining capabilities, and a deck can bring you an 80 to 120 percent return on your investment when it’s time to sell your home.
Protect Against Termites
Having a professional termite exterminator out to inspect and treat your home for termites is an expense that pays off immensely in the long run. Termites cost US homeowners billions of dollars every year, but if you catch them before they’ve done too much damage, the right treatment can get them under control and protect your home from future invasions.
At MightyMite Termite Services, we can help you keep your home safe from termites, using treatments that are naturally derived and have a low impact on the environment. We diagnose and treat infestations with the most effective methods and unmatched warranties, solving your termite problems the first time, with an industry-best “no call-back rate.” That, combined with our experience, technology, and highly trained professional staff, makes us the leading extermination company in the Bay Area. We understand that your home is your most important investment, so we work hard to provide excellent service, utilizing industry best practices to solve our customers’ termite problems in Northern California. For more information, call us today at 408-377-3761, email Info@mightymitetermite.com, or contact us through our website.