Every year, millions of Americans eagerly await their tax refunds, which averaged just over $3,000 in 2022. While many envision vacations, shopping sprees, or tech upgrades, others opt for more thoughtful uses like savings, emergency funds, or investments in home improvement.
If you’re wondering how to make the most of your refund, consider investing in your most valuable asset—your home. Home improvement projects not only enhance your living experience but can also provide significant long-term financial benefits. Here are a few rewarding ways to put your tax refund to work:
INVEST IN A NEW ROOF
Your roof is one of your home’s most critical components, providing protection and adding curb appeal. Using your refund to upgrade your roof is a practical and aesthetically pleasing choice.
For maximum value, consider Class 4 impact-resistant shingles, such as Atlas Roofing’s Pinnacle® Impact or Pinnacle Sun® shingles, which feature 3M™ Cool Roof Technology. These advanced shingles are not only durable but also resist unsightly algae with the help of Scotchgard™ Protector by 3M.
“Not only do these shingles look fantastic, but their color stays vibrant without black streaks caused by algae,” says Sherry Holmes, professional contractor and TV co-host.
TRANSFORM YOUR OUTDOOR SPACE
With more time spent at home, why not extend your living space into the great outdoors? Enhancing your backyard can boost both your enjoyment and property value.
- Add group seating for family or neighborhood gatherings.
- Create a play area for kids or pets.
- Hang a hammock for relaxing afternoons.
- Plant an edible garden for fresh, homegrown produce.
Whatever you choose, soaking up some sunshine and Vitamin D is always a good idea.
REFRESH YOUR HOME’S EXTERIOR
New siding can completely transform the look of your home, giving it a fresh, modern appearance while boosting curb appeal. It also provides an opportunity to update to more durable, low-maintenance materials that protect your home from the elements. Additionally, new siding improves energy efficiency by enhancing insulation, potentially lowering heating and cooling costs. Get more information on Veenkamp siding options here.
MAKE YOUR HOME SMARTER
Turning your home into a connected, “smart” home is another practical use for your tax refund. From WiFi-enabled doorbells to ovens, smart technology adds convenience, efficiency, and even energy savings.
“An easy way to start is by installing a smart thermostat,” Holmes suggests. These devices let you adjust your home’s temperature remotely, helping you cut energy bills.
For a comprehensive solution, consider whole-home systems that integrate air quality, security, water management, and energy controls in one convenient interface.
A WISE INVESTMENT
While it might be tempting to splurge on non-essentials, using your tax refund to improve your home can deliver lasting benefits. From a new roof to a smart home system, these upgrades enhance your lifestyle while boosting your property’s value.