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Your Refund: Invest That Refund In Your House!

BOSTON (CBS) – A survey done by Capitol One found that 65% of taxpayers believe that the best way to approach spending the refund is to be “practical.” With 40% wanting to chip away at debt or make needed purchases.

Often those needed purchases are repairs or updating your home. For most of us our homes are our largest asset! So consider using your refund to add value to your home and take care of any of the minor repairs that are needed.

Winter is almost over so look around the house. What repairs did you put off because of the winter weather or what happened because of the winter weather?

Did the snowplow dig up the lawn or clip the side of the garage? Weather stripping needing replacement?  Is the paint peeling in places like the garage where the snow piled up? Take care of the small things that happen before they become the big things.

With a $3,000 refund, you are not going to get your whole house painted, but you can buy the paint and do it yourself. We have a friend that paints a side of his house every year for four years. Takes off 5 years and starts the process again. It is never an overwhelming project.

Paint protects your investment so don’t skimp here. Buy the best paint, take your time and do it right. Scrape, sand and prime before the first gallon of paint is opened.

Did your home feel dark and dreary during the winter months? Bright colors lift your spirits. Paint walls, woodwork, doors and even cabinets for a fresh new look.

You can update a bathroom for $3,000. You can get a new sink and toilet and have them installed. Install a new vanity or get a new counter top. Learn to tile and you can have a new floor as well. Home Depot and Lowes both have classes to learn about installing floors. Put up a shower door or take down an old one.

An easy DIY project is a closet makeover. First empty out the closet and decide what to keep. This immediately frees up space. Head back to the hardware store and check out the various closet organizers for ideas. You can get lots of help online as well.

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You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

Subscribe to Dee’s Money Matters newsletter here.

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