10 Ways to Invest Your Tax Return So It Keeps On Giving
It’s hard to believe it’s tax season already. If you’re lucky enough to get a tax return, there are (obviously) many ways one can use the extra stash of cash – vacations, furniture, shopping spree, paying off bills, invest it, and/or put it in one’s savings account.
However, if you look at it this way, your tax return CAN keep on giving…and giving…and giving (you get the picture) if you choose to invest it in your home! Plus, if you invest it in your home in an energy-savings-type project, you could even qualify for a break on your 2016 taxes.
With that in mind, we’ve come up with a list of “10 Ways to Invest Your Tax Return So It Keeps On Giving” for years to come:
1.) Cabinetry
Face it. That bathroom vanity with the door hanging off and ridiculously ornate drawer pulls isn’t going to replace itself.
And, that 1976 kitchen? Yeah…it’s time for some updated cabinets that’ll last another three (…or four) decades.
If you’re planning to put your northern Minnesota home on the real estate market, this is one of the best ways to make your home more “sellable.”
2.) Windows
Installing new windows in your home (when Mother Nature allows) can save you money on your heating and cooling bills for years!
3.) Doors
Are you constantly reminding your kids (or husband) to “shut the front door,” even if it doesn’t necessarily close properly? Replacing screen doors and storm doors is another smart way to create energy savings in your home for years to come.
4.) Roofing
Our northern Minnesota seasons certainly generate interesting weather predicaments, often wreaking havoc on the roofs over our heads. Whether your home/garage requires an entirely new roof (sheeting, underlayment, shingles) or just new fiberglass shingles/metal roofing, this is an investment sure to last for decades. We’ll even help you find a northern Minnesota contractor, if this is a project you’d rather not tackle on your own.
5.) Siding
Again, our northern Minnesota homes take a beating in nearly every season. Replacing worn and often-faded siding is a great way to keep your home tightly sealed, making it even more energy efficient. Again, another great way to prep your home to sell now or in the future!
6.) Screen Porch
Most of us like to enjoy the outdoors here in northern Minnesota! What better way to kick back and relax in spring, summer and fall than within a screen porch! And, if you’d prefer to enjoy it year-round, make it a four-season porch!
7.) Paint & Stain
There’s really no better (or quicker) way to freshen up your home (inside or out) than with a coat of Valspar paint (or Cabot stain). Exterior paint and stain help protect your home from the elements, adds curb appeal, and more….while interior paint protects your drywall from spills, mold, etc.
8.) Countertops
So….back to that dated 1976 kitchen that needs a facelift…replacing countertops in your kitchen adds value and usability. Installing natural stone-surfaced countertops, like quartz from Cambria, (a Minnesota-based company), provides a durable countertop surface that’s more resistant to surface damage compared to other stone.
9.) Outdoor Living
Start planning and budgeting to build/revamp/landscape an outdoor living space that you can enjoy during spring/summer/fall (heck, maybe even winter) months here in northern Minnesota. Rebuild an existing deck (or revamp it for your needs). Construct a pergola. Layout a patio, complete with stone and outdoor fireplace. The options are endless!
10.) Grill
We Minnesotans are a hearty bunch. While most of the country is bundled up when the temperature reaches 40 degrees (above zero), we’re still grilling! Heck, many of us use our grills outdoors all year long! That’s why it makes sense to invest in a grill that’ll stand the test of time. Traeger Grills (and Fryin’ Saucers) are some of the best!
While this post isn’t meant to discourage you from saving your tax return dollars or planning that long-awaited vacation, investing in your home is a wise decision no matter the time of year.