Tax season is coming up fast, and we’ve got a great incentive for doing our taxes early this year. The winter doldrums have us looking forward to spring cleaning and home updates for a new season. So what better way to spend our tax refund than on home improvement? Even if you’re not expecting a huge refund this year, you can still make one or two small improvements on a budget. Here are a few ideas for putting your money to good use and maybe even getting a little return on investment (ROI) in the future.
Kitchen reno doesn’t have to mean budget buster. We’re talking baby steps here. For example, maybe your kitchen is being brought down by dated cabinetry and hardware. If the cabinet boxes are still in good shape, simply replace the doors and drawer fronts with an updated style and color. This can have a huge impact on an otherwise ho-hum kitchen.
Installing new windows can help you cut back on your heating and cooling bills, sure, but did you know they can also bring a pretty good return on investment at about 79 percent? Extra bonus: Purchasing energy-efficient models can snag you a tax credit for next year!
Painting is one of the simplest things you can do to a home, yet it can make a room feel instantly brighter and revitalized. We love the dove grays that are so popular on walls right now, but if you’re craving spring colors, check out Pantone’s Color of the Year for 2016: a blend of Rose Quartz and Serenity. These colors are perfect for injecting a little spring into your accent pieces and trim work.
Another subtle way to make a big impact in any room is to change the lighting. Fixtures from pendant lights to chandeliers come in a wide variety as far as style and price tag, so just about any refund can cover the cost of a lighting upgrade.
The exterior is obviously the first impression people get of your home. Unless you’ve kept up with exterior maintenance throughout the winter (which most people don’t), chances are it’s in need of a refresh as well. Put your refund to good use by pressure washing the siding, porch, driveway, and walkways; tidying the lawn; planting a few spring flowers or shrubs; and touching up the paint. If you’re expecting a larger refund this year, think about replacing the front door and/or garage door as well.