Even though you’re only getting back money you have already earned, getting a tax refund is always exciting. You may feel so excited about it, in fact, that it feels like the money is burning a hole in your pocket before you even have it.
What should you do with the windfall? While a vacation someplace warm would be nice, all you will have are memories and a large credit card bill after the fact. Why not invest your tax refund in something that will last for decades like a new roof for your home? Not only will it better protect your family and financial investment, installing a new roof is an excellent choice if you plan to put your house up for sale in the next few years. Although your tax refund may not fund the entire cost of a new roof, it should at least be enough to make your down payment.
Why a New Roof is Such a Great Investment
A robust and sturdy roof protects your home from rain and other weather effects that could cause significant damage. The last thing you want to deal with as a homeowner is mold and rot that can result from too much moisture seeping into your home.
If you’re concerned about energy efficiency and high heating or cooling costs, replacing your old roof is a smart move. It will naturally keep your home warmer in the winter and cooler in the summer without having to rely on your heating, venting, and air conditioning (HVAC) system too much. This is especially true if you choose solar roofing panels.
Speaking of energy efficiency, the government likes to reward people who take it seriously. You may qualify for a tax credit or rebate just by choosing Energy Star roofing materials.
Improve Curb Appeal
Even if you don’t plan to move anytime soon, replacing an old, worn roof that may have broken shingles with a new and attractive one can do wonders for the aesthetics of your home. Your home will look much better, even from a distance. If you’re planning to move, one way to achieve a significant selling point and advantage over other home sellers is to add a new roof to your home. It can also increase the starting price for your home and give you more leeway when it comes time to negotiate an offer.
Tax Refunds Come Only Once a Year, Use Yours Wisely
Unless you’re expecting an inheritance, it isn’t often that you receive extra money beyond your paycheck and any investments. When you submit your 2019 tax return and see that you’re getting a refund, earmark that money right away for an investment that may last for the rest of your life. We invite you to contact the Spicer Bros. Construction location closest to you today to request an estimate or to schedule the installation of a new roof.