Tax season is officially open. For many of us, thats one step closer to receiving a refund check! Last year the average tax refund was $2,860, leaving many Americans with a substantial chunk of change in their pocket. While dreams of a lavish vacation or shopping spree are easy to give into, we recommend investing your hard earned money into something with a better return on your investment, your home. Here are four smart ways to spend your tax refund this season.
Energy efficient appliances
Consider upgrading some of your outdated appliances with ones that are more energy efficient. Many homeowners are deterred by the upfront cost of new appliances, but switching to energy efficient appliances can save a family a couple hundred dollars every year.
Lower utility bills easily offset the upfront cost in just a few years, and can lead to some major long-term savings. In addition, there are a lot of Energy Star rebatesand federal incentivesyou can take advantage of to help reduce the price of your new shiny appliances.
If your home doesn’t have an attached garage, consider building a steel garage to shelter your vehicle. Not only can this addition help keep your car clean and protected, but may actually provide you with a discount on your car insurance.
With customizable features like door styles, windows, and colors, a steel garagecan be built to match your home and fit your individual needs. No more parking on the street.
Tax refund time is the perfect opportunity to complete a few repairs around the house that you may have been putting off. From minor repairs like cracked tiles, to more major renovations like a leaky roof, fixing up your home not only improves your quality of life, but is essential for maintaining the resale value.
Consider replacing windows with more energy efficient models, or adding weatherstripping and caulk to existing windows, to reduce air leakage and further lower your utility bills. More cosmetic home improvement activities to think about are repainting rooms, refinishing hardwoods or upgrading your faucets.
Upping the curb appeal of your home through landscaping is a great investment and is sure to keep your neighbors happy. Don’t limit yourself to just a few new shrubs. Patios and pathways are a great way to ensure that you and your family get a lot of usage out of your yard. Add a nice trellis and an herb garden to go with your grill, and you have a wonderful place to spend your weekends. Check out websites like Home Advisorfor even more landscaping ideas, as well as the average cost for each project.