It’s the time of year when many of us are eagerly looking forward to those tax refund checks and entertaining ourselves with ideas of how we want to spend them. It’s money we’ve worked hard to earn, and now we want to treat ourselves.
Nobody disagrees with that notion, but financial experts advise proceeding cautiously. And just about everyone agrees that putting some of that money into home repairs and upgrades is not just a sound economic move, but it will boost our spirits, besides!
There are several ways to invest some of that cash on low-cost improvements that greatly increase your home’s value while giving your living space a great facelift.
Give a room in your home a new look with a fresh coat of paint. It’s a project that can be accomplished in a single weekend, from covering the floors to sanding the walls to final coat, all for just about $150.
Replace old carpeting or other flooring with something more modern and appealing. Real estate brokers estimate that investing $800 or so for new flooring offers up a return of up to $2000 in your home’s resale value, according to This Old House.
There are a number of ways to increase a home’s curb appeal without spending a fortune. Rent a pressure washer to clean accumulated dirt and mildew from your house’s exterior. The cost is about $100 to do it yourself, or slightly more if you decide to use a professional.
Paint or replace your front door. Primer and paint will run you less than $100. For about $1000, you can replace the door entirely. Remodeling Magazine says this is one of the best returns on investment a homeowner can make. Generally replacing a front door will recoup you more than 90% of the cost.
Painting your home’s exterior can run you into the thousands, but consider painting just the fascia boards (the trim along your roof). It protects the wood from rot as well as giving your home a sharp new look for around $600.
Experts concur that updating lighting fixtures is another great way to boost your house’s value while giving rooms an entirely new look. Consider installing a lighted ceiling fan which serves the dual purpose of illumination and circulating air, keeping a room cooler in summer and warmer in winter. It can generally be connected to the existing cable from the old light. New fixtures will run you anywhere from $100 to $200 apiece, and the average overhead fan will run you just slightly more than that.
So before you take your refund check and spend it all on a tropical vacation or a new car, take a few moments to contemplate allocating some of that money toward home improvements projects that will give you new pride in your house and boost its value at the same time.
If you don’t feel you’ve got the time or skills to implement any of the above ideas yourself, keep in mind that an expert and reliable craftsman from your local Handyman Matters office can step in and do the job for you without too much added expense. The odds are, you’ll still have funds left over to enjoy a fancy dinner out and maybe even a weekend getaway!