Tax season is over, which means that you and your clients should be receiving your tax refund in the mail soon. The possibilities are endless on how to spend it, but I would suggest that you encourage your clients to re-invest their refunds in their real estate endeavors.
3 Ways to Re-invest Tax Refunds in Real Estate
1. Starting a home fund. With home prices continuing to drop, your clients could use their refund towards a down payment.
2. For closing costs or moving expenses, if they do decide to purchase a new home.
3. Home renovation or regular maintenance. If your clients are staying put for a while, sprucing up their homes may be a wise re-investment. See my previous blog on home improvement projects that will give you the biggest boost in home value.
If your clients are not interested in using their return for real estate purposes, I strongly suggest that they use their return for paying off debt. The best debt to pay off first is credit card debt, specifically the card with the highest interest rate. Read my full post with my other suggestions on how to spend your tax refund this year on today’s Equifax Finance Blog.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blogand CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.