GoBankRates.com estimates that the average tax refund this year will total about $3,000. In a survey conducted by that organization, 10 percent of respondents said they plan to splurge on a vacation or luxury item when the refund arrives. But 9 percent plan to use that money for a “major purchase.”
Some homeowners may choose to buy a refrigerator or washer and dryer with that windfall. But an even better investment would be a home-improvement project that may add to the home’s resale value. For example, a siding replacement adds $12,119 to a home’s average resale value per Hanley Wood. Building a backyard shed can also boost the value of your home, especially if the prospective buyer has a shed-ready hobby and needs an artist studio or woodworking space.
“Replacing home siding has consistently ranked as one of the best projects for increasing a home’s value,” says Karen Alves, LP’s Brand Segment Marketing Associate for siding. “When you sell the home, you recoup more of your investment than with comparably priced renovations like window replacement.”
With potentially $3,000 in hand, a homeowner can go beyond a just-the-basics renovation to one that adds significant home value. Here are some idea-starters for how to use a tax refund for a home renovation:
When your refund check arrives, resist the impulse to buy those tickets to Tahiti or jewelry store bling. Invest that money into some remodeling projects that make your home more creative and increase the asking price when you sell.
Re-siding your home is a significant investment and a long-term decision on your home’s look. One of the first steps to siding a house is choosing a siding material that fits your needs. Being involved as you review types of siding and cost can give you confidence in your plans and peace of mind that the materials you choose are built to last. Liz Marie Galvan of the Liz Marie Blog shares her journey toward choosing LP® SmartSide® ExpertFinish® Trim & Siding for her upcoming home re-siding project.Continue Reading
Let’s break down the limited warranty for LP® SmartSide® Trim & Siding so you can be one step closer to choosing one of the most durable siding solutions on the market.
Just like typical homes, tiny homes require protection from the elements. A durable exterior that lasts is essential, and that’s where tiny home siding comes in. Let’s take a look at a great option for tiny house siding—LP® SmartSide® Trim & Siding, one of the most durable house siding solutions available, backed by years of proven performance on typical homes, sheds and more.