How to Sell Your Home with Your Tax Refund
Updated: Jul 21
With 2020 upon us, everyone will be gearing up to file their taxes and for many Coloradans that means receiving a well-deserved tax refund. What are you going to spend your money on this year? Ready to replace that antiquated box set for a new flat screen? Hoping to make a dent in your student loans? Not sure? Well, here's an idea: you can use your tax refund this year to sell your house.
If you were already thinking about moving and selling your current home in 2020, then your tax refund could be the boost you need to get started. One of the smartest things you can do with this money is make home improvements that buyers will appreciate. Those pink walls were perfect for your young daughter, but repainting them to white or a neutral color could be more enticing to buyers. This doesn't mean you have to go all out on major renovations. Making small improvements like fixing a broken door knob or updating your ceiling fan will go a long way. If your house is already in top shape, then saving your tax refund to help with the down payment on your future home is an obvious answer. Depending on your lender, you may be expected to put down at least twenty percent of your mortgage. Another option to consider is using a professional home staging company.
Buyers often find it hard to picture how their belongings, especially their furniture, will fit in a home that they are looking to buy. Will their couch fit in your living room? What about their king-sized bed? When taking photos of your home for your listing, empty rooms are not always the way to go, because it can be hard to judge how large a room is even if you've included the dimensions in your listing. As the seller, you could use your tax refund to hire a professional staging company that knows how to arrange your home for buyers. Even if you have empty rooms, the staging company can bring in furniture for you to spruce up the space, give it life, and give buyers an idea of how the space could look with their own belongings.