There are very few times you will have a small windfall of extra cash, and tax season is often one of those times for homeowners. The opportunity to take tax deductions on several expenses of being a homeowner can translate to a refund check from Uncle Sam. So what to do with this extra cash? I suggest reinvesting it back into your home, so you can reap the benefits of that cash for years to come 🙂
If your tax return is under $1,000, it may seem that there isn’t much you can do to make a big change, but that’s where you’re wrong. If you are lucky enough to get a tax return, you can use a return like that to make easy, but impactful, improvements to my home.
Lights, hardware, action
Many homeowners like to see consistency throughout the home when it comes to light fixtures and hardware. Sometimes the lighting and hardware in your home will date it and a very inexpensive fix is to install new kitchen cabinet hardware and light fixtures. Consider brushed nickel, black iron or even an oil rubbed bronze. These are all classy, updated color choices that freshen up your home, provide a clean consistency throughout. It shows you pay attention to detail!
Spruce up Entrances
Tax season is the perfect time of year to bring some color to your porch. Consider a new color for your front door, or maybe even a new front door! Changing the hardware on your door will freshen up the look of it and if you don’t have one, consider installing a nice glass and screen storm door with a lock. It will step up the quality of your front porch and that can be a nice feature to have in the summer when you are trying to get some fresh air into your home.
Other things to consider doing to spruce up your home’s entrance:
- Purchase a power washer to clean driveways, sidewalks, and siding throughout the year.
- Add new shutters to your home.
- Replace house numbers with something newer and more stylish.
- Replace exterior light fixtures.
- Replace your mailbox.
Refresh the Paint
With time, paint becomes scuffed, scraped and overall dingy. I am always amazed by how big an impact painting can do to a home. Decide on the feeling you want in your room – calming? energetic? Choose a color you love, test it out on sections of your walls. The lighting in your home will be different than the store lighting. Go outside your comfort zone … try your bold and exciting color choice on an accent wall or in a small space—like your powder room. Another possibility? Incorporate a decorative finish (like metal finishes or color glazes) or different paint finish. Personally, I love a Sherwin Williams Cashmere Low Luster finish for the interior of my home. It makes the room visually interesting and cohesive. For exterior paint, be sure to prepare the area properly and use high-quality paint. I recommend using Sherwin Williams Emerald Satin for exterior paint jobs.
I’d be remiss if I didn’t mention one super easy way to make a big impact for a small price— updating your curtains, pillows, and accent candles. Find bold patterns and textures that complement each other and your existing furniture. Check out Home Goods for affordable and stylish accent pieces.
If your tax return turns into several thousand dollars, you can make a really big impact in your home that you may not normally have the money to complete.
Renovate a Room
Transform a small space into something amazing! You could renovate your powder room with paint, tile and a new toilet and sink. Or maybe the laundry room or mudroom is in desperate need of attention…install cabinets and hooks or an organization systems. Try finding the perfectly sized bench or other furniture to organize your coats and shoes. For a simple but impactful change, try adding organization cubbies to your garage or back hallway.
Transform your backyard
Grass alone is easy to maintain, but with just a little creativity, your outdoor area can become a second living space for much of the year. I love a quality wood deck (which will probably run you $1900-$2600 for 250 square feet) but just think how enjoyable it will be to sit out on your deck on a spring evening with a drink and a book. Other options for areas of your yard could include pathways, pavers and plants. It’s a lovely way to customize your yard and your tax check will easily cover these upgrades. I recommend Divine Outdoor Services for any lawn and landscaping needs. Give Bryce a call and tell him David sent you!
Fencing things off
Many yards in the midwest don’t have a greenbelt or much shrubbery to separate your yard from the neighbors. Your tax return could be used for a quality fence. A fence can create boundaries for transforming your backyard, especially if your fence is a complementary backdrop for your yard transformation. Wood privacy fences will run you $10-$30 a foot for someone to install. You can expect a wooden rail fence to run you $3-$9 a foot for a do-it yourself installation. Wrought iron style fences, made from aluminum or steel run a wide range of anywhere from $20-$100 a linear foot. Vinyl fences are another viable option, ranging anywhere from $4-$12 a foot (for a short fence) to $15-$70 a foot (for a 6’ privacy fence). Whatever you decide, you will want to take into account how much of your yard you are fencing and what material you want your fence to be. It’s worth choosing quality material now, for fence longevity and higher resale value later. Before you install any fencing in your yard, be sure to review HOA rules if you live in one.
Organization (my favorite!)
Closets are a huge selling point in a home, so why not make the space as functional as possible? You’ll love the use of space now and in the future, your buyer will love your customized closets. Organization systems can range from a few hundred dollars to several thousand dollars. You can use a coated wire closet system or a wood system that hints at customized built-ins. Whatever you do, be sure that you are choosing a quality storage system that fits the purpose of the room it’s in.
I hope these ideas are getting you excited to revamp your home with your tax return! 🙂