February signals the start of tax season, a time when many Americans gain nearly $3,000 on average in the form of a tax refund, according to the IRS.
Splurging on a vacation or iPhone X is tempting, but as a homeowner, sinking refund cash into your house may be smarter, especially if debts are already under control, says Lisa Greene-Lewis, a certified public accountant and tax expert at TurboTax.
Even smallhome improvementscan nudge home value — and your quality of life — in a positive direction. But how do you decide what to do?
The first question to ask, says Craig Webb, editor in chief of Remodeling magazine, is “How long do I plan to stay in the home?” The answer dictates how much you should spend on home improvements and which projects to prioritize.
If you’re staying put, focus on changes that make your life better and improve value, Webb says. Fix what’s broken before thinking about curb appeal.
Here are some home improvement ideas in several price ranges so you can put that tax refund to work.
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