Getting a tax refund? Use it on home improvements to boost resale value

February signals the start of tax season, a time when many Americans gain nearly $3,000 on average in the form of a tax refund, according to the IRS.

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  • Splurging on a vacation or iPhone X is tempting, but as a homeowner, sinking refund cash into your house may be smarter, especially if debts are already under control, says Lisa Greene-Lewis, a certified public accountant and tax expert at TurboTax.
  • Even small home improvements can nudge home value — and your quality of life — in a positive direction. But how do you decide what to do?
  • The first question to ask, says Craig Webb, editor in chief of Remodeling magazine, is “How long do I plan to stay in the home?” The answer dictates how much you should spend on home improvements and which projects to prioritize.
  • If you’re staying put, focus on changes that make your life better and improve value, Webb says. Fix what’s broken before thinking about curb appeal.
  • Here are some home improvement ideas in several price ranges so
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The Advantages of Remodeling a Bathroom

If you’re like many homeowners, your bathroom is the first place you think of when considering a home remodeling project. Outdated fixtures, dirty grout, and broken tiles can all impact your bathroom’s appearance, making it one of the least appealing rooms in your home. There are a number of benefits a bathroom remodel can offer.

 

 

Increase the Overall Value of Your Home

Remodeling your bathroom can be a great way to increase the overall resale value of your property. Depending on the size of your space, a bathroom remodeling project can cost anywhere between $8,000-$16,000. This may seem pricey, but many homeowners recoup 50{3e88c3bdb9e6742c8ba6f5397f349270fc3382f60d85eafc51803ebce5f58b90}-60{3e88c3bdb9e6742c8ba6f5397f349270fc3382f60d85eafc51803ebce5f58b90} of their investment when they decide to sell. Plus, potential home buyers will find an attractive, up-to-date bathroom to be an appealing feature, so remodeling your bathroom may help you find a buyer more quickly.

Increase Space and Storage

If your bathroom feels cramped and cluttered, remodeling might be the answer for you. Remodeling gives you the chance to rearrange things so that the space is being used more efficiently. You can swap out ugly, outdated cabinets for new ones that provide you with extra storage space. A bathroom remodeling company can advise you … Read More