It’s always nice to receive a tax return once you file. How to invest or use that tax return depends on each taxpayer. Homeownership, we hope to gain on our investment when it’s time to sell right? Did you know that “the average tax return this year is $3,120, according to the IRS? This is based on refunds sent out as of the end of February. Average tax refunds vary by state, according to data compiled by Business Insider, from an average refund of $2,254 in Vermont to a high of $3,126 in Texas.” So where are some good places to invest that money from Uncle Sam once you get it?
Kerry Curry of Self Storage wrote a great blog on 10 Ways to Use Your Tax Return which Design Solutions KGP was quoted in! Of course, we suggested using your return to stage your home if you are planning on selling. If you are not selling, taking advantage of our Dwell to Sell service can be very beneficial. You could be thinking of selling in the next five years, doing some of the updates a Professional Stager suggests gives you the opportunity to enjoy those improvements now. Those improvements now will be ones that will build your equity when the time comes to sell. Enjoy your investments before you sell.
Other suggestions are to invest in your kitchen, bathrooms, add crown molding, a new front door to name a few. Read the article to get other great ideas. Investing the money you receive from your tax return into your house does make sense because if done wisely it will increase the value of your home.
Let me know if you have any other great suggestions!