If you’re a home owner, re-investing your refund in your home might be a good idea. Whether you want to do something fun with décor, or smart with repairs, your tax refund could be just what you needed to check a few home improvement items off your to do list.
1. Invest in energy efficiency which will continue to re-pay you. Not only will you save money by making these improvements, but these are items you can list as upgrades to the home when it’s time to sell.
a. Switch to LED lights.
b. Add insulation in the attic – almost every home inspection shows that areas of the attic have missing or misplaced insulation.
c. Upgrade your A/C system – before summer. If last summer you know your unit was on it’s last leg, it might be good to invest in a new unit now. If you wait until it completely breaks down, you might be stuck paying a higher (emergency induced) price. If you buy one before you A/C needs replacement you can investigate and get bids.
d. Programmable thermostats.
e. Windows – Perhaps you can’t do the whole house, but start by doing all the west or south facing windows to be dual paned/energy efficient.
2. Repairs – Keeping these items in good repair will add value by making buyers feel the home has been well maintained and it will look better. These are also items that if a buyer can tell visibly that these items need repair, they will offer less on your home and then after the home inspection they might ask for the repair, so you are essentially double paying for the issue.
a. Have your roof checked out. If you have missing flashing or exposed areas, get ahead of the problem and get your roof repaired. Is your roof more than 15-20 years old? Perhaps now would be a good time to start a replacement program. Some roofers will replace your roof one section at a time to help with budgeting. You could do one section or half now and another next year and then you have a new roof.
b. Paint the exterior. Paint on home exteriors in Arizona typically last 7-10 years. So, if you’re nearing that timeframe, this might be a good time to re-paint and maintain your stucco or whatever siding finish your home has. Paint helps to maintain your home by preventing moisture to get into the siding. Paint isn’t just to look pretty, but is integral to protecting wood overhangs, fascia and the entire exterior.
FULL STORY HERE