For most people, tax season is a source of nightmares—not a reason to rejoice. However, for those who are expecting a refund in the mail, the tedious paperwork and mile high pile of receipts might not seem to daunting after all. While April 15th is fast approaching, there are already plenty of people who are thinking two steps ahead of themselves as they try to determine the best way to spend the extra cash that comes courtesy of the IRS.
True, not everyone receives a tax refund, but for those of us who pay a bit extra all year to experience that yearly bonus early in the spring, tax season can mean a world of exciting opportunity. Before you start thinking too far ahead of yourself (am I going to pay down a credit card, or book a vacation…?) put a little bit of thought into the ways that your tax refund can spell out home improvements, and maybe even boost the value of your future property sale in Jacksonville.
Whether you recently purchased an investment property to start rental property management in Jacksonville and are hoping to make a couple of crucial repairs, or are moving into a Florida foreclosure and need to start fixing up everything from the floors to the ceilings, your tax refund can get to work for you.
Here are a few home projects that have a budget of under $1,000 that you can get started on with your tax refund:
- Upgrade appliances: Switching out old appliances for new energy efficient models can actually cut down your monthly expense by saving you money on your electric bill. Plus, new washing machines and dish washers actually use less water than the old models, which means added savings year round.
- Add a fireplace: Sound like too big of a feat for a small budget? Think again! Electric fireplaces are simple to install, and best of all for Florida can give the look and atmosphere of a real fire without adding any more heat to the room!
- Replace the doors: Switching out your front or back doors can reduce draft into the house, helping to reduce the amount of pressure on your heat or air conditioners. Plus, a new door can really spruce up the appearance of your home.
Other home investments that will boost your property value include making changes to your kitchen cabinets and counter tops, putting fresh coats of paint on the wall by replacing the old flooring in your home with new laminate wood with the help of the best grout sealer and tile or carpet.
Are you planning on designating your tax refund to any home improvements? Share your plans in the comments below!