Believe it or not, tax season is here again!
Yes, this probably means a much-dreaded appointment with your accountant. However, it also means you will most likely be receiving a tax refund in the next few weeks.
You may be tempted to spend this money on a vacation, a new television, or other exciting purchases. However, have you considered using your tax refund to improve your home value with projects like exterior painting, pressure washing, interior painting, and other home improvements? Believe it or not, investing in small upgrades like these with your tax refund can have a major pay off when it comes to your home’s value in the long run.
Below we discuss how home improvements can improve your home value as well as some of the best ways you can use your tax refund to invest in your property.
How home improvements can improve the value of your home
If you are like 70 percent of homeowners in America, you probably consider your home to be your greatest asset. This means that keeping your home in excellent condition should be a top priority for you.
When it comes to your home’s value, certain factors such as the real estate market and your location are out of your control. However, the good news is that taking care of your home and spending money on home improvements are things you can do something about. And fortunately, these improvements — both big and small — have been proven to increase the market value of homes over time.
Five top ways to use your tax refund to increase your home’s value
1. Exterior painting
According to NerdWallet, the number one thing you can do to improve the value of your home is to make the exterior more attractive. In our experience as professional painters, one of the quickest and easiest ways to do this is with exterior painting. This is because curb appeal is extremely important to homebuyers. Think about it. Do you want to buy the shabby home with chipped paint and bad landscaping? OR do you want to buy the neat and tidy home with a fresh paint job and a beautiful lawn? The decision is easy!
Now that brings us to our next tip.
In addition to exterior painting, landscaping is one of the most affordable ways to increase a home’s value. Forbes suggests investing your money in budget-friendly landscaping projects such as planting native trees, purchasing perennial foliage that won’t need to be replaced each year, and strategically planting young shrubbery with room to grow.
3. Pressure washing
If you’ve ever put a home on the market before, you probably know that one of the first things your real estate agent will want you to do is pressure wash the exterior of your home. This is because getting off the grit and grime of time with pressure washing is a quick and affordable way to spruce up your home’s curb appeal. Even if you aren’t considering putting your home on the market any time soon, regular pressure washing will improve your home’s value, by maintaining the integrity of your exterior and preventing damage from mold and other build up. This is especially important if you live in a harsh climate.
4. Interior painting
Although it is important to invest in the exterior of your home, you don’t want to forget about the interior in the process! The home design experts at HGTV state that “One of the simplest, most cost-effective improvements of all is paint,” and we couldn’t agree more. A simple coat of interior paint can make a world of difference, taking a neglected, dreary room to a bright and welcoming oasis! As you choose paint for your interior painting, we suggest sticking to neutral colors, as they will appeal to the widest range of potential buyers. One of the best things about investing in interior painting is that it is something you can enjoy now that will also improve your home’s long-term value.
When it comes to the interior of your home, replacing or updating your flooring is another guaranteed way to improve your home’s resale value. If you have stained, worn carpet, consider either investing in new carpet or installing wood or vinyl flooring. If you have hardwoods that are scuffed and scratched, it may be time to get them refinished. Fresh, new flooring will both improved your home’s appearance while also increase its resale value.
If you’ve decided to spend your tax refund to fix up your home, both interior painting and exterior painting are fast ways to improve the appearance and value of your home. Looking for a free estimate from an experienced team of professional painters? Contact our team today for a free, firm painting estimate. We’re ready to get to work and get your house looking like a million bucks!