If you are one of the many people expecting a tax return check from the IRS, consider using this money on home improvement projects.
Many home improvement projects can increase the value of your home. This means you will be able to sell your home at a higher price when you’re ready to move, but if you’re not planning on moving shortly, these upgrades can still be made today. Before you start renovating, it is important to understand which upgrades will add more value to your home. Here are our top three recommendations:
3 HOME UPGRADES YOUR TAX RETURN CAN GO TOWARDS
Curb Appeal Landscaping and hardscaping are two of the home improvement projects with the highest returns. According to the, the average homeowner spends about $3,500 on landscaping. This money will be spent on improving your home’s curb appeal, which can draw more buyers in and make the home easier to sell in the future. But don’t just focus on plants and mulch; improving your walkways can help as well. Is your concrete driveway, patio, or sidewalk cracked or sinking? You can probably repair it instead of replacing it. Projects that increase curb appeal will also increase the home’s overall value, so homeowners can quickly recoup the money they invest.
New Flooring Flooring can also increase the value of your home. Real estate brokers estimate that homeowners who spend between $600-900 on new flooring can get an additional $2,000 when it’s time to sell their home. If you can afford to spend more, it’s best to upgrade to hardwood floors or refinish the ones in your home. Why? The National Wood Flooring Association reports that 90% of real estate agents believe homes with hardwood flooring sell for more money than homes without it. Therefore, replacing your flooring is a very wise investment. Don’t want to tackle this project yourself? We will give you a free estimate on your flooring project.
Energy Efficiency Upgrades Making various energy-efficient upgrades can also add significant value to your home. For example, replacing old kitchen appliances with Energy Star models is a great way to update the kitchen and improve its energy efficiency. Other energy-efficient projects include sealing air leaks, adding insulation, and replacing drafty windows. If you’re a BGE customer, there are some great programs to help you cover significant portions of these costs – sometimes up to 75%! In addition, today’s home buyers are becoming more interested in purchasing energy-efficient homes. By making these changes now, you can appeal to this growing group of eco-conscious buyers when you’re ready to sell your home in the future. In the meantime, you save money on monthly utility bills since these projects will lower the amount of energy you use to heat and cool your home.
TRUST C.A.R.E. PROPERTY SERVICES WITH YOUR REMODELING PROJECTS
It can be tempting to use your tax refund to reward yourself with a vacation or a gift. But this year, invest this money into the place you have likely spent the most time – your home. It may not be as exciting as going on a glamorous vacation, but it is much smarter. Call C.A.R.E. Property Services today to learn how we can help you manage your home improvement projects.