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 you can put that tax refund to work.
- Replace cabinet hardware. Changing knobs or handles is fairly simple, but gives the whole room a new look, says Colin Shaw, owner of Shaw Remodeling in Niantic, Connecticut.
- Seal the driveway. You’ll reduce unsightly cracks and slow deterioration of