No one, with the small exception of maybe tax preparers, get excited about tax season. Especially for homeowners, with all the deductions and credits you have to get through, filing taxes might just be one of the most dreaded tasks of the year. But there is one positive - if nothing else, now’s the time to start dreaming about what you’ll do when that refund hits your bank account. Whether you’re expecting a lot or a little, tax refunds are easy chunks of money to reinvest into your home - sort of like a bonus, you can allocate some or all of it to your next big project, and the options are endless when it comes to remodeling and decor, especially with warm weather on the way. It might just make finishing your taxes something to look forward to (no guarantees on this one)!
Tax Refund Project 1: Interior Makeover
The spring season isn’t just the season of taxes - it’s also the season of spring cleaning, and with the fresh new (clean) space often comes a desire for a fresh new look. Rather than using your refund in only one space, you might want to think about using it to give your home a makeover with a new style, brighter paint colors (color is in right now!), and updated interior decor. An interior designer can help you find great pieces or you can take on this project on your own, looking to DIY projects and unique home decor to get inspiration. Your return can go a long way if you spend it wisely, which gives you even more options to be creative and customize the home of your dreams!
Tax Refund Project 2: Yard
Maybe you daydream about lounging by the pool this summer; maybe you’ve wanted a backyard garden full of exotic plants. No matter what’s through the back door in your dreams, a landscaper can help you make it a reality. Now’s the time to contact one, too - not only will you be ahead of the rush, but they can help you figure out what to begin tackling now (like buying the outdoor planters and decorative structures) and when you should start the bigger projects together, like planting that exotic garden or installing any pathways or outdoor seating. With a landscaper’s help, you can create a backyard you won’t want to leave (in enough time to enjoy it)!
Tax Refund Project 3: Outdoor Kitchen
One of the coolest homeowner trends to invest your refund in is an outdoor kitchen. Much more than just a barbecue grill, outdoor kitchens have become decked out living areas , complete with sinks, cooking ranges, refrigerators and ample seating for the whole family, either table- or bar-style. It might feel early to start thinking about grilling outdoors, but some outdoor kitchens include fireplaces or patio heaters, and many are even partially or totally covered, meaning you can enjoy the extra living space and great outdoors year-round. Plus, there are tons of customization options, and these days outdoor kitchens are a huge draw for home buyers if you’re thinking of selling anytime soon.
Tax Refund Project 4: Kitchen Remodel
If you don’t have room for an outdoor kitchen, using your tax refund for an indoor kitchen remodel can be just as worthwhile. Kitchen remodels are well known for their return on investment (making it a good choice for your tax return) and, well, you know just how much time you spend in the kitchen, especially if you have small kids. Popular projects include cabinet refacing, installing a kitchen island, or upgrading kitchen appliances, especially if you have a particular interest or speciality in the kitchen. Think about a fancy new dishwasher or a luxury double wall oven, or maybe even a built-in wine and beer fridge and/or dispenser if drinks are your thing. Don’t be afraid to dream big - some of those projects might be more affordable (and worthwhile) than you think!