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How to spend your tax return dollars on home improvements

Have you thought about how to use your tax return money? While investing, saving or paying down debt are all great ways to spend tax returns, consider putting money back into your house through home improvement this tax season.
by Jon Hill Modified: April 21, 2014 at 1:38 pm •  Published: April 21, 2014

Have you thought about how to use your tax refund money?

While investing, saving or paying down debt are all great ways to spend tax returns, consider putting money back into the home through home improvement this tax season.

There are two major criteria homeowners should follow when prioritizing home improvement tasks around the house.

  1. Improvements left unattended that pose a safety hazard
  2. Improvements that are causing your family to lose dollars
Did you know the quickest way homeowners lose money is by not monitoring how much energy is being used? Begin spending tax return dollars by making energy-efficient home improvements.

Homeowners can spend a few extra dollars making sure doors and windows are tightly sealed. This helps keep cool air from seeping out through cracks, making the home warmer and forcing air conditioning systems to run harder. Call an energy professional to assess the home, determining what other adjustments need to be made to make your home energy efficient.

Once adjustments are made, look into tax credits earmarked for energy efficient home improvements that can be claimed for 2014. This way money is being saved while the home is being enhanced; it is a win-win situation.

You can also capitalize on tax refunds by putting the dollars toward technological home improvements, such as a programmable thermostat. These adjust automatically to the current temperature and decrease energy usage if a room is at the programmed temperature. They can also be programmed to turn off if no one is home.

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by Jon Hill
NewsOK Contributor
I am part owner and general manager of Hill and Company, a HVAC company founded by my father in 1967. Hill and Company is a family owned and operated company that is dedicated to customer service and the highest standards. My job allows me to work...
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