As a homeowner, you typically want to make the place your own by doing home improvements. But what projects are usually done? And for #MoneyMonday, we’ll look at how it’s paid for.
Projects are typically done on a large scale. Here’s what gets tackled:
43% focus on outdoor projecs
31% are bathroom remodels
28% on the unfortunate home repairs
26% done on kitchen remodels
16% narrow in on the garage
5% are about the pool
And how are they paying for it? A surprising 62% of homeowners tap into their savings! (Way to go, financially savvy owners!) For those who don’t have the cash resources, they turn to the following to cover their house project:
When you are selling or buying, the value of houses can be affected by so many things.
Of course, location and neighborhood comps affect the going price of the home, but other things you may not have thought about can affect it as well. These include: privacy, frontage length, the backyard sloping down, and more.
“According to a new survey from the AICPA, Americans are feeling better about their finances than they were three years ago. Only 35% of adults have delayed a major life decision as a result of financial burdens, compared to 51% in 2015.”
“You may hear the term “financial plan” and imagine thousands of dollars spent and hours in a stuffy broker office discussing the benefits of a diversified portfolio. Or maybe you think financial plans are only for those who, well, have finances. Not so and not so. Every adult needs a financial plan, no matter how much money you have (or don’t have) and how old you are.”
Think through your finances and set up a plan. Consider the following questions:
What’s your current financial situation?
Where do you financially want to be in the short-term, and also in the long-term?
“Relieved that you won’t have to think about taxes for another year now that you’ve finally submitted your 2017 return or will soon? It’s best not to put taxes on the back burner yet. Instead, take advantage of being in tax mode to make a few moves that can help with next year’s return and improve your finances overall.”
“The average tax refund was $2,895 last year, according to the IRS. Whether you’re looking to use it for travel, invest it or use it to build an emergency fund, there are certain steps you can take to stretch your tax refund dollars.”
Nobody likes to pay more in taxes than they absolutely have to. By the time you start preparing your return, it’s too late to use some of the smartest tactics to control the size of your tax bill. Instead, you have to plan in advance to make sure your refund is as big as possible.