Smart Move: Invest some of your tax rebate back into your home!

One of the smartest moves you can make is to take your yearly tax return and put it straight back into you home!  Considering your mortgage interest deduction is probably a large contributor to your return in the first place, what better way to spend it than reinvesting it?  Below are some tips for different price points. 

My favorite idea out of all of them is to make a principle payment!  You can take off several years off the life of your loan if you make one extra payment each year (make sure you note that you want it to go straight to your principle balance)!  Even if you aren't planning on staying in the house for the entire 30 year mortgage, when it is time to "move up", your payoff will be less. Therefore you will ideally make more on your sale.  And the more you make the bigger down payment you can put on the next house. 

Read about some other ideas in the articles below!! 

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  Invest a Tax Refund in Your Home: $2,500 Projects

  If you want to invest a tax refund in your home this year, consider these five great projects that cost around $2,500. Read
• 

  Invest a Tax Refund in Your Home: $500 Projects

  Here are five great ideas for investing a tax refund in your home if you receive $500 or less back from the IRS this year. Read
• 

  Invest a Tax Refund in Your Home: $1,000 Projects

  Consider these five great projects that cost around $1,000 if you decide to invest a tax refund in your home this year. Read

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Let us know if you have any other innovative ideas on how you can invest your refund back into your home!  And of course, call us if you have any questions please don't hesitate to call or email us!