According to a study from GoBankingRate.com, many Americans plan to spend their tax refund paying down debt or saving for a vacation. But what if you could invest your refund to not only make your home more comfortable and beautiful now but recoup the amount spent when you go to sell? That sounds like a win-win to us. To help you decide which home improvement project will add the most appeal and the highest return on investment, we’ve compiled this list of home improvement projects to get the most bang for your tax return buck.
Installing insulation in your attic helps prevent air leakage in the home, keeping in the conditioned air (hot and cold) throughout the year. It typically costs $1,343 for a professional remodeler to install fiberglass loose fill insulation in an attic and the cost recouped when the home is sold is $1,446. That’s 107% of the cost recouped and you get a comfortable home with lower annual air conditioning costs.
Replacing your existing windows with insulated, low-E vinyl windows not only recoups nearly 74% of the investment when the home is being sold, but it also earns you energy tax credits while you still live in the home.
New front door
Never underestimate the power of curb appeal and a gorgeous, strong front door. A new front door can improve a home’s insulation, help tighten up home security, and add a vast amount of beauty to the entry of your house, resulting in an ROI of 91% according to the cost vs value home report from Remodeling.hw.net.
Minor kitchen remodel
A minor kitchen remodel giving a higher return on investment may sound impossible but with the right small adjustments, you can experience an updated kitchen at an 80% investment recoup. Consider updating cabinet faces and hardware, repainting your trim, and replacing laminate countertops.
The craftsman style of manufactured stone on the bottom third of a home’s exterior can recoup approx 89.4% of your investment. This project adds major curb appeal and beauty to the exterior of your home.
What are you spending your refund on? Are you considered any of these projects for your home? Share your thoughts with us on Facebook, Twitter, or Instagram.