New flooring doesn’t just look impressive, it turns your tax dollars into priceless home equity for years to come. While the average tax return is usually not enough to fund a major home improvement project like a kitchen renovation, it can often provide enough cash to accomplish a wide range of home up-fits and improvements. Here are our top five ideas to turn your tax return into priceless home equity:

1. Treat Your Home to Hardwood Floors


Some say this favorite home upgrade can return 1.5 to two times its cost when you sell, so it's a worthy investment! Timeless, versatile and durable—like all organic materials, different hardwood species have their own unique character and quirks (which is why we stock five different species) and give your home the x-factor it’s been looking for.

2. Make Home Feel More Like Home


You simply can’t go past installing brand new, plush carpet to make your home feel even more homely and inviting. It’s where parents play with their kids, where people kick off their shoes and relax, and it sends a subtle message that this place is a home, not just a house.

3. Install a Hardwood Look-Alike


Don’t worry if the dollars don’t stretch as far as real hardwood, there are other durable, quality flooring options that will also stand the test of time. Vinyl, laminate, and waterproof flooring will fool all of your friends into thinking it’s the real deal, but without the price tag. Plus, you are future-proofing your flooring from unexpected flooding events that will ruin anything with wood content inside it.

4. Update Your Outdoor Space & Boost Curb Appeal


Freshen up your curb appeal by investing in external areas like your porch, enclosed patio, sunroom, or exposed patio and bring some of those inside comforts outside! Updating these forgotten areas is one of the most cost-effective solutions for adding value by transcending the walls of your home and providing additional living space.

5. Refresh Your Living Room Decor with an Area Rug


The right rug finishes a room, and if you can only add one item to make a big impact on your space that’s an excellent way to spend a smaller return. The right living room rug can pull all of your accent colors together, add pattern to a neutral color palette or soften hard edges in a more contemporary room. It’s the unsung hero of the flooring world (and why many don’t know we carry them).

Regardless of the size of your tax return, even small home improvements can nudge home value—and your quality of life—in a positive direction! So this year, put your refund $$ to work by going all out with beautiful new hardwood floors, boost curb appeal by revamping that neglected front patio or bring some modern warmth to your family room with a selection of cozy area rugs.

References:
https://www.moneycrashers.com/what-to-do-with-your-tax-refund-money/
https://www.forbes.com/sites/trulia/2017/04/11/13-ways-to-spend-your-tax-refund-on-home-improvements/#22935f8e47c2
https://www.nerdwallet.com/blog/mortgages/tax-refund-spend-it-on-these-home-improvements/