Closeup woman filling form of Individual Income Tax Return,

How to Re-Invest Your Refund Towards Complete Home Comfort

Tax season can be a stressful time for many of us, with lots of scrambling to answer all the questions we have in order to file accurately and on time.  But if you’re one of the many lucky homeowners due to receive a refund, there’s a less commonly asked question that you may feel stuck trying to answer; What to do with the money?

This Tax Season, Make Comfort Your Priority

A few of us might spend an unexpected refund on a vacation or a “discretionary purchase” we’ve been eyeballing for the past year.  While there’s absolutely nothing wrong with treating ourselves on occasion, Heritage would like to propose another option to consider–one that makes your dollar go further and leverages your refund as a windfall towards an investment into your home’s comfort systems.  And to top it off, it’s something that you’ll not only enjoy in the moment, but it will reward you year after year in comfort.

Here’s our top “quick hits” for smaller tax refunds:

  1. Routine AC Maintenance – A neglected air conditioning system can be a major headache – from skyrocketing energy bills to an inefficient system that can’t keep you comfortable even on the cooler days, routine maintenance is crucial.  And if done on a regular basis (annual is recommended) it will more than pay for itself in the peace of mind knowing you’ll stay cool all summer long.
  2. Energy-Efficient LED Indoor & Outdoor Lighting – LEDs come in a variety of applications and temperatures while using a fraction of the energy, which means significant savings in the long run. Plus, they last much longer, minimizing the need for frequent replacements.
  3. Repair/Upgrade Leaky Outdoor Faucets – This will not only save you money on water bills, but also ensure you have reliable access to water for all your outdoor needs, whether it’s washing the car or watering the garden.

Home Comfort Investments for Large Tax Refunds

A larger tax refund is an excellent way to make a huge impact on comfort.  And if you’re looking at a few thousand or more, you have a truly rare opportunity to reinvest that money towards a higher ticket item, like a whole-home generator or high-efficiency HVAC system.

Here’s our top picks for ways to reinvest a larger refund:

  1. High-Efficiency HVAC System – Your HVAC systems are the heart of your home when it comes to feeling comfortable indoors, especially in New England.  From our sweltering summers to frigid winters, going without a well-working heating and cooling system is easier said than done.  And if you have vulnerable family members in your household such as young children and those of us who are a bit older, the dramatic shift in seasons can have a real impact on wellbeing.  By using your refund to invest in a modern, high-efficiency cooling or heating system, you can not only save hundreds in utility bills over its lifetime, but it’s a smart way to dramatically improve your comfort indoors, no matter the weather outside.
  2. Whole-Home Generator – A true complete peace-of-mind upgrade, a whole home generator is a must if you can’t afford a pause in your life due to a power outage.  Whole-home standby generators are just that and can power your entire home (even your AC system) at a moment’s notice during an outage.  Today’s models work so well, it’s quite possible you’ll never even notice you’ve lost power until you see your neighbors being left in the dark.  The best part is that, unlike portable units, standby generators are safe to run rain or shine, operate completely automatically, and have their own dedicated fuel source so you’re not having to refill every couple of hours.  If you’ve been on the fence about getting complete electrical security, consider investing your refund toward a generator this year!
  3. Electrical Service Upgrade – Today’s electrical demands on our homes is much greater than it was even only 15-20 years ago.  Being more connected means more devices vying for power at the breaker box, and with an older electrical panel and service this could mean tripped breakers or simply not getting enough power to run newer appliances.  Upgrading to a 200 amp service is a great way to future-proof your electrical system for the decades to come.
  4. Bathroom Refresh – Most of us don’t have a crystal ball when it comes to picking decorative choices that will stand the test of time.  Avocado green may have been all the rage in its day, but times have changed.  If you’re feeling like your bathroom is more a museum exhibit than a functional space you enjoy being in, it’s time for a refresh!  New bathtubs, toilets, and vanities can go miles when it comes to making your bathroom feel modern and inviting.
  5. Water Heater Replacement – It’s said there can be some potential health benefits to the occasional cold shower, but we strongly believe you should be the one deciding when–not your water heater.  If you’re sick and tired of playing the cold shower roulette or doing the 5-minute warm-up routine, it’s time for a new water heater!  With plenty of options to choose from, a properly designed water heater provides nearly instant hot water and is able to meet the demand of the home regardless of how many people are using it.  Don’t settle for cold showers, and consider using your refund towards a replacement.

Leverage More Purchasing Power with Low-Interest Financing

If your return isn’t enough to cover the entire balance of an upgrade, one smart option is to leverage your return as a down payment toward low-interest financing.  While financing rates for home improvements are ultimately determined by creditworthiness, putting down a substantial down payment can shrink your monthly payments and lower the total amount that your loan’s interest is accrued from.

Curious about the financing options available to you?  At Heritage, we offer competitive financing for larger home comfort projects including all the projects listed earlier.  Learn more by following the link below!

Your Comfort Experts for Summer and Beyond!

Make comfort your priority this year, and consider using your refund towards a smart upgrade in your home.  Whether you’re adding a new cooling system for the summer season or just keeping up on routine maintenance, Heritage Home Service is New England’s provider of choice for all the things that run your home.  Trust the experts and give us a call for your home service needs today!