Tax season is here and many people are already planning how they will use their refund money. Rather than spending your income tax return on a vacation or a new wardrobe, why not invest it in your home? When used wisely, money spent on home improvements can result in an even larger return down the road.
Dallas area home prices are increasing year-after-year, so investing your tax dollars into a remodeling project could increase the value of your home. Whether it’s a home repair project you’ve put on hold, or you want to make some improvements, here are a few ways to get more out of your tax return money:
- Curb appeal - If you’re considering selling your home in the near future, now is a good time to begin working on the curb appeal of your home. It can’t be denied -- the outside appearance of your home can be a major factor when trying to sell. New windows, updated front porch, fresh paint color or front door hardware and lighting – these changes can make a big difference down the line for potential buyers.
- Bathrooms - Maybe you don’t have the money for complete remodel of your bathroom, but there are a few affordable changes you can make that will update the look of the room. Start by replacing fixtures and knobs. Over time, these metal fixtures can lose their shine and rust. Replace the sink water fixtures and vanity hardware with an updated brushed nickel or bronze. An updated shower head can also significantly improve the appeal of your bathroom.
- Kitchen - There are many changes to improve the look of your kitchen. Replace cabinetry and update your appliances, change an outdated sink with a stainless steel one for durability. If your flooring is worn replace it with something more durable. Making one or all of these changes to your kitchen will definitely add value to your home.
- Outdoor space - An outdoor living space can increase the value of your home if done right. Adding a pool, for example, does not typically add value to your home. A deck or large covered patio, however, is a different story. Whether or not you’re looking to sell your home in the future, using your tax refund money to build an outdoor living space, or update your existing one, is sure to have a positive return on your investment. Consider an outdoor fireplace or fire pit, sitting area, grill, ceiling fans and even perhaps an outdoor sound system.
If you are considering using your refund dollars to invest in your home call CB Construction to get started on your spring project.
If you have any questions, please don't hesitate to call or email me.
5711 Mercedes Avenue
Dallas, Texas 75206