Are you expecting a tax return and want to improve the value of your home? Most people would say yes, but often times homeowners dread the idea of tackling a home renovation. If finances are a worry, it’s important to keep in mind that renovating just a few key spaces in your home can add significant value. Below you’ll find expert tips from Desert Schools Federal Credit Union on the top four spaces where that tax return will provide the most bang for your renovation buck.
This is the best place to renovate for the best return on your investment. Because it’s a place for gathering, it’s likely the place your family and guests spend the most time. Keeping your kitchen sleek, classic and clean in design is what will add the most value. Updating cabinets and lighting fixtures are good places to start.
Something as simple as power washing the outside of your home could be just what you need. According to the National Association of Realtors, this simple trick to clean up your home’s facade can add anywhere from $10,000-$15,000 to the potential sale price of your home. Of course, there’s always something to be said for a fresh coat of paint, as well.
Great landscaping can also boost curb appeal and increase your own enjoyment of your home. Consider working with a landscape professional to transform a boring or dull backyard into a gorgeous space that works with your home’s architecture and a becomes place where you want to spend your time.
When a complete bathroom remodel may feel overwhelming, it’s possible to upgrade just a few items to give your bathroom an entirely new look and feel. Consider adding a beautiful vessel sink, new tile floors or a fresh coat of quality paint for a space that feels updated and modern.
Got big renovation plans? Enter Desert Schools’ “Love My Home” sweepstakes for a chance to win $75,000 and a private, in-home distinctive design recommendation from HGTV’s “Love It Or List It” star Hilary Farr. For more information, visit www.desertschools.org/lovemyhome .
Trying to stay financially fit? Check out more money-saving stories in our Financial Fitness Zone .
The information listed may not reflect the capabilities or practices at Desert Schools Federal Credit Union, but is rather meant to serve as a unbiased advisement and support of the financial health of our community.