How Your Tax Rebate Check Can Increase Home Value
Whether you are planning to put your house on the market within six months or a year or are interested in refinancing your current mortgage loan, increasing the value of your home is always a smart idea. Although the goal of the economic stimulus package is to stimulate the economy with tax rebate check recipients running out and purchasing retail items they normally wouldn’t spend the money on, increasing the value of your home is a much wiser move. This article will offer suggestions on how you can use your tax rebate check to do just that.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Replace Your Roof. My husband and I were able to purchase our home for five thousand dollars less than the asking price, due to the condition of the roof. The original roof that was on our almost thirty year old home had come to the end of it’s life expectancy. The sellers were aware that the roof would need to be replaced in a year or two and so were willing to accept our offer. If your home is need of a new roof, replacing it now will put you in a much better financial place when it comes time to sell. Although contractors charge an average of $2500.00 to $5000.00 to put a new roof on, it is possible to do it for much cheaper.
My husband had no roofing experience, but was confident that he could handle the job. He took several books out of the library, did some Internet research and had the help of two of his friends to replace our roof. By buying pallets of shingles at the home improvement store and doing the work himself, we were able to put a new roof on our two story colonial home for $800.00. If doing the work yourself is not an option, put the tax rebate check towards your new roof fund and wait until you have the funds you need to hire a contractor.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Rent A Storage Space. If you are actively selling your home, the first rule to be adhered to is to remove any unnecessary clutter. Prospective home owners need to see as much of a blank slate as possible to be able to mentally decorate the home to their liking. By removing and storing any unused and unneeded items for daily life, you will have a much better chance at securing the sale. Use your tax rebate check to rent a storage space to store any unneeded furniture and personal items to make your home appear as uncluttered as possible.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Update Your Bathroom. Prospective homeowners are always interested in the number and condition of the bathrooms before placing a bid. Use your tax rebate check to purchase a new bathtub, sink or vanity. Updating your bathroom with energy efficient fixtures will help to ensure you get close to your asking price when selling your home. Do some research and then spend your tax rebate check on newer, energy officiant fixtures for your main and extra bathrooms.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Think Curb Appeal. Real estate studies have shown that prospective home buyers get an immediate and lasting impression from the homes they consider upon pulling up to the curb. Use your tax rebate check to purchase a new mailbox, spruce up your landscaping and paint your front door. All of these options are relatively inexpensive and will only take a small bite out of your tax rebate check. In comparison, the money you spend will translate into a bigger profit when you sell your home.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Carpeting. Replacing old and worn carpeting is a small investment that pays off when selling your home. Buyers today do not have the excess cash flow to make costly updates after moving in. Knowing that they can just move right in and begin making their new house a home will increase the appeal and desire to buy your house for the full asking price. By spending your tax rebate check on
installing new carpeting in your home, you are making a very positive step in increasing the value of your home.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Spackle And Repaint. Head to the home improvement store with your tax rebate check and purchase all the items you need to repair any holes, dents or dings in the walls and then freshen the rooms with a new coat of paint. Prospective homeowners will not want to put out a small fortune to make repairs and paint after sinking every penny they have into a new home. By making the rooms of your home look ready for your buyers to move right in and start decorating, you will get closer to your asking price.
How To Use Your Tax Rebate Check To Increase The Value Of Your Home: Replace And Update Your Home’s Hardware And Fixtures. Much of the home buying process is instinctual and psychological. When entering a home for sale, prospective home buyers need to be able to picture themselves living in the home. By replacing the doorknobs, switch plates and hardware of your home with bright and shiny replacements instead of the dated and well worn fixtures you have had for years, you will create a fresh and clean atmosphere and be that much closer to selling your home for the asking price.
It may be very enticing to spend your tax rebate check on a weekend getaway or a new summer wardrobe, but spending your tax rebate check on increasing the value of your home is a much wiser move and will pay off in the long run.
