4 Home Projects Worthy of Your Tax Return

4 Home Projects Worthy of Your Tax Return

‘Tis the season to start compiling your W-2’s, charity donation records, mortgage interest statements&helip;the list of tax documents could go on and on. It’s tax season. What are you planning to do with your tax return? A family vacation or new car? A home project? If you’re planning the latter, be strategic with your project; choose a home project that adds value to your home—and to your life.

Kitchen remodel

If you’ve been living with cabinets that don’t close, outdated countertops, or a dysfunctional space that makes preparing even the easiest dish a challenge, put your tax return money to good use: for new cabinets, updated countertops, and a pantry. Because a full kitchen remodel leaves you without use of your kitchen, hire a contractor to minimize the time you’re grilling in the garage. In addition to having a more functional, and more beautiful, kitchen, you’ll also add value to your home. For a more budget-friendly update, contact a contractor about replacing your countertops and adding a backsplash. These two inexpensive projects make your kitchen look beautiful without spending your entire tax return.

Finished basement

Need a getaway during our long Wisconsin winters? Look down. Not at the floor, but at your unfinished basement. An unfinished basement can be a game room, man cave, theatre room, bar for entertaining—whatever you want it to be. The bonus? A finished basement adds value to your home, while giving you a fun space to cure your cabin fever. If you want your basement finished before the spring flowers bloom so you can take full advantage of it, hire a contractor to get the job done. One word of caution though: be sure to take care of any recurring flooding or water leaks in your basement, so your new finished space doesn’t end up unfinished because of several feet of water.

Bathroom remodel

There are a lot of reasons to remodel your bathroom: you could be sick of the outdated pink tiles, want to make your master bath look, well, masterful, or you might need a safer bathroom so you can stay in your home. Whatever the motivation for your new bathroom remodel, it’s a safe investment from an equity standpoint—and an even better personal investment if it’s for your health. For a safer bathroom project, choose a contractor with experience in retrofitting a bathroom with grab bars, accessible showers, and other features that make your life easier.

Mud room

Give your winter gear a home, and organize all your other seasonal items in your new mudroom. If done properly, you can organize your coats, hats, mittens, mail, work items, and everything else in a well-thought out, and built, mudroom. Use our tips to plan out your new mudroom and leverage each inch for storage and organization. For more ideas, don’t be afraid to ask your contractor. A mud room won’t give you a huge return on your investment in the value of your home, but an organized mudroom adds value to your daily routine—making you feel like you put your tax return to good use.

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