Invest Your Tax Return in Your Home

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Invest Your Tax Return in Your Home

February 7, 2018 Blog 1

Invest Your Tax Return in Your Home

Make a Plan for Your Tax Return

Are you anticipating a tax return this year?  If so, it can be exciting to get a chunk of cash, but do you have plans for it?  It’s best to have a plan in place before you receive it.

If you don’t have a plan, you’ll most likely begin impulse buying.

Before you  know it, POOF, the money is gone.

Consider using it to buy a big ticket item you need, vacation, something fun, or consider using it to improve your home.

Why You Should Invest In A New Roof With Your Tax Return

Many times home projects can be dreadfully expensive and they almost always cost more than anticipated.  Putting a tax return toward updating your home is a great way to put that money to good use.

What Projects Should I Use My Return On

Any project that takes a while to save up for would be a worthwhile project.  A project or maintenance that needs to happen in case you need to relocate should be on the top of that list.  For example, roofs need to be in decent shape in order to sell your home.

Perhaps this year is the year you use your return to update your roof!  Maybe your roof is getting toward the end of its lifetime, but there aren’t any glaring problems yet.

You want to make sure that you replace your roof before there are leaks, missing shingles and moss.

Ways You Can Invest in Your Home If Your Roof Is In Good Shape  has a wonderful article titled “10 Ways to Use Your Tax Return for Home Improvements.”

Do beware that a good portion of these projects cost a lot more than your tax return will cover.

Converting an attic into a living space, siding, windows, and making your basement livable are expensive projects.

The projects will however, give you a good return on your investment.

Bottom Line

Be smart with the money you get back from Uncle Sam.  Don’t just squander it away!  Invest it in your home and watch it’s value increase. Or simply avoid disaster by taking care of necessary home improvements!


One Response

  1. Ron Pickle says:

    Investing in long pending but expensive home projects is the best way to utilize this extra cash, this would help a home owner save a lot and stay stress free for a long period of time in future.

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