A Like-New Home May Be Just a Tax Refund Away

A Like-New Home May Be Just a Tax Refund Away

If you’ve been waiting for a windfall to remodel your home, spring can offer the perfect opportunity. Whether your tax refund is for $300 or $3,000, you can certainly put that money toward a number of home remodeling projects that can improve the look, value, and function of your home. Indeed, if you choose to combine tax time and spring cleaning into full-blown remodeling, you can also make your refund go a little further. Around tax time, many hardware, furniture, and home stores offer discounts or additional bonuses for those who choose to spend their tax money there. In fact, if you bring your government check  straight to the store, some home improvement or interiors stores will load it onto a gift card with no fee and then tack on a certain amount or percentage of extra funds. Some stores will go up to 10% for this reward, which can really give you some spending power of your tax refund is over $1,000.

How to Get the Most Reward for Your Refund

Holding a tax refund, especially a large one, in your hand and looking at all the projects you have to do around the house can be an interesting experience. On the one hand, you might feel a rush of excitement as you look around and envision the changes you would like to make around the home. On the other hand, you may feel overwhelmed as you wonder where you should start, worry about getting quality materials, and try to put together a complete vision for your newly remodeled home. If decide to use your tax refund for remodeling and home improvement, there are some steps you should follow.

1. Determine whether there are any necessary projects that you must complete to ensure your home’s safety and durability. Although you can begin with a self home inspection , it’s important to get a professional home inspection done before you complete any home improvement job. Why? Because there may be hidden problems within your home, problems that threaten the safety of your family or the longevity of your home. If you spend your tax refund on making superficial changes, you’ll just end up having to complete structural repairs later.

2. Address the biggest problems first. If your home inspection reveals some serious issues, repair them first to make sure your home is stable. Though there are some serious issues that you can repair on your own, for the most crucial tasks, like writing and electrical problems, you should consult a professional.

3. Choose to only undertake projects that you can finish. Call or visit home improvement or interiors stores, talk with professional contractors, and read how-to articles to determine the length and money required for the projects you want to complete. If you can’t reasonably do it in that amount of time or with the refund money you’ve allotted, do something smaller. Otherwise, you’ll have a half finished project on your hands that could stick around for months or even years.

Hiring a Professional With Your Refund

Before you take on a home improvement job funded by your tax refund, consider the pros and cons behind hiring a professional to do that same job. Though you will definitely want to go with a professional if your job requires electrical or plumbing work, or if it is dangerous or requires an expert skill, like carpentry, some so-called do-it-yourself jobs are done much better by a professional. And in many cases, hiring a professional ends up being just a bit more than it would cost you to do the project on your own, once you figure in time, fuel spent buying materials, equipment rental, etc. Plus, as the spring weather gets better and better, you might look less favorably on spending a lot of time indoors.