Smart Homeowner Projects Using Your Stimulus Check
Updated: Apr 22, 2020
So, it’s official! Many of us are getting/have gotten a stimulus check as part of the CARES Act - the $2.2 trillion stimulus package. Not everyone will get a check, but individuals with an adjusted gross income below $75,000 should get $1,200, married couples filing taxes earning under $150,000 should receive $2,400 with an extra $500 per qualifying child.
If you are fortunate enough that this crisis in not effecting your income too severely, consider putting some of this extra money to work for one of your biggest investments – Your Home!
Here are some great home improvement projects worth investing in to help you improve your own enjoyment of your home and increase your home’s resale value.
Counter tops – You might be able to get yourself a deal on some granite or granite alternates to help your kitchen stand out when you go to sell your home! In general, money spent updating the kitchen has an extremely high ROI (Return on Investment).
Backsplash – adding a backsplash can give your kitchen an updated feel at a relatively low cost. New products allow you to DIY backsplashes.
Appliances – Think about updating your appliances that are old/worn/do not match. You will probably get a better ROI if you go for some gently used or new but scratch and dent appliances.
New front door – First impressions can make a huge difference to buyers; an appealing front door really helps with “curb appeal.”
Bathroom vent – have you noticed your bathroom getting a bit musty lately? Good ventilation is key to maintaining your bathrooms in top shape for resale, so if a good clean doesn’t help your vent remove moisture - replace it.
Remove or cover popcorn ceiling – Covering or removing popcorn ceiling may help give your house a more polished and updated look that buyers want even when looking at “older” homes.
Refinish hardwood – are your floors looking a little scratched and shabby? It might be time to think about refinishing them. Buyers love hardwood floors but if they look worn, they are less appealing.
Hot tub – Who would not want a hot tub to enjoy for a few years before resale? Built in hot tubs can be a draw for some buyers looking for luxury. Just be sure to buy one with a longer lifespan and to maintain it well.
Update your light futures – do you have old globe light fixtures? Some buyers may love the vintage look but also might love a new spiffy fixture. Lighting is an easy way to add character to your home.
Update your cabinet hardware – You might not be able redo your cabinets completely for under $2200 but new hardware can go a long way to giving an old kitchen a more refined and updated look.
Refinish deck – if you have a deck that needs repair/refurbishing, now might be a great time to refinishing.
New carpet or flooring – there are usually spring sales on carpet and flooring so, if your carpet is dirty/worn, get an estimate to replace it. Replacing carpet is a relatively inexpensive but goes a long way to increase appeal to buyers!
New landscaping/privacy shrubbery – Do you have a green thumb? Adding some shrubbery is a low-cost way to add your homes curb appeal or privacy. Well-placed plants can make your back yard a mini sanctuary.
Replace old windows – if you have a couple windows that are fogged or leak air think about replacing them or at least re-caulking them. Check your window screens – if they have holes or tears, replace them.
Repair/replace fence- is your fence staring to wobble, splinter, or fade?
Clean air ducts – Do you live in an older home? Help your health and think about cleaning out your air ducts!
Replace a/c unit – is your AC unit getting close to it’s end of life?
Replace water heater – Live in an area with hardwater? It might be time to check on your water heater, if its close to its lifespan you may want to think about replacing it.
Buy a power washer - Who doesn’t love power washing? This is a great item to have handy for sprucing up your home before resale and in this case, you can bring it along when you move!
Hire a lawn service – Is your lawn starting to be more crabgrass than luxurious grassy carpet? Having someone rehab your lawn over a few months or even a year may add to your curb appeal and give your family a great place to hang out barefoot this summer.
Fresh paint – Paint is the cheapest and easiest way to freshen up a home! Use some of this time at home to give some of your walls a fresh coat. Avoid any extreme colors, buyers tend to like neutral colors.
Fireplace cleaning – if you have a wood burning fireplace you may want to have it cleaned. If you have a gas fireplace, you may want to have it serviced. Keep the receipts so you know when you had it done.