Are you one of the lucky ones getting back some much-needed money from the IRS? It can sometimes be hard to decide what to do with that refund—after all, a vacation, unpaid debt or investments may all be calling your name. However, if you’re also planning on selling your home this year, you may be overlooking one potential use for your tax refund that could actually end up netting you even more money—and that is investing in the sale of your home.
Easy Ways to Increase the Value of Your Home
There are few key areas where you can strategically invest money in updating or renovating your home and expect to recoup your investment. Whether you have only a few hundred dollars or have several thousand, consider the following ways to use your tax dollars to ensure you sell your home for far more than your renovation investment.
Freshen Paint and Neutralize Rooms
If your walls or moldings are dingy and in need of attention, a small investment in paint and tools can return far more in the sale price. Freshly painted, neutral colors make buyers feel the home is clean and allow them to envision themselves in it. Even if your tax refund is minimal, you can likely afford to invest in painting all the rooms of your house. Stick to a neutral palette to ensure you attract the most buyers.
Update Features In Key Rooms
You may not have the money to redo your entire kitchen but if this space is in need of updating, you can focus on key features to update the room for less. You may be surprised how inexpensively you can replace a backsplash or update cabinet hardware. Even stainless steel appliances can be purchased with deep discounts from clearance sections and sales at major warehouses. You don’t have to choose top of the line appliances—just simply replacing old white, stained appliances with clean stainless steel can instantly improve the appearance of your kitchen by thousands of dollars.
Some quick fixes to consider implementing in the kitchen or bathroom:
- New tiles or backsplashes
- Fix broken or cracked tiles with replacements (as long as they match)
- Update towel holders, cabinet hardware and window décor
- Remove dated décor, such as old wallpaper or outlet covers and replace with new versions
- Replace vanities with prefabricated models that are inexpensive but updated
- Update faucets and showerheads
Improve Curb Appeal
As we approach warmer months, curb appeal begins to offer plenty of opportunities to attract buyers. Bright plants and well manicured lawns welcome home buyers and make them instantly feel as if they are entering a home that is well taken care of. Consider power washing decks and patios, repainting the front door and even replacing a dingy mailbox. A small investment in your exterior can pay off big simply by beckoning the right buyers inside.
Of course, once you’re done with all of this and sell your home for top dollar, make sure to hire quality movers like Shleppers Moving & Storage, who will offer competitive moving quotes and take extra special care of your belongings to ensure all your investments survive moving season! Happy Tax Day!