Invest in Your Home this Tax Season
Wednesday, March 28, 2018
April is almost here and that means one thing…. taxes! According to the IRS, the average American gets about $3,000 back in tax refunds. This year, instead of splurging on something that you will only use once, why not put that money back into your home, increasing the value and curb appeal- securing a longer future there or bigger profit when you sell.
The Remodeling 2018 Cost vs Value Report (www.costvalue.com) was just released, and below are a couple of the home improvement projects that can show you the biggest return on your investment. The numbers noted are based on Denver statistics.
Siding Replacement– Replacing the existing siding on your home has one of the highest percentages of costs recouped compared to other project types. According to the Remodeling 2018 Cost vs Value Report, a midrange job of around $15,370 has a resale value of $10,373, meaning 67.5% of your cost is recouped!
Siding is one of the most important investments you can make in your home. James Hardie fiber cement siding can help to lower your insurance premiums because of how it stands up to fire, an important thing to factor in considering how dry it has been this winter. Not only does it add protection to your home, it can help you save money on your energy bills, potentially getting back even more of your investment!
Window Replacement– The window data compiled by the 2018 Remodeling Cost vs Value Report shows that a job costing around $15,903 has a resale value of $10,827- 68.1% of your cost recouped. This data is for vinyl windows, there is not yet data on fiberglass window products, like Infinity from Marvin. However, homeowners who have installed fiberglass windows report an estimated 30% savings on energy costs. This can be subjective on your individual energy use, but that is yet more money back in your pocket!
Fiberglass expands and contracts much less than vinyl, giving them a longer life, and more glass space. More money, and more views- what could be better?!
This tax season, give your home the makeover it deserves. Lifetime has some amazing offers and financing options available, making it easy to get started before the heat of summer sets in. Call us today to get started!