Home improvements are costly and replacing your air conditioning system is one of priciest appliances in your home. If you’ve had trouble saving and have been putting off an A/C upgrade, doing home improvements through tax refunds can be smart. In fact, when it comes to getting a more energy efficient system installed, it’s so smart you could avoid higher utility bills, saving more in your paycheck.
Home improvements through tax refunds that keep on paying
The best home improvements increase your equity. Whether you are looking to sell a home this summer or a few years from now, you’ll get higher offers with a new air conditioning system.
The average tax refund is about $3000 according to the IRS; according to Promatcher, the average cost of an HVAC system of a 2 to 3 ton unit using existing ductwork is between $3305.82 and $4350.35 in the Kennewick area. That means almost the entire air conditioning system is paid for with your tax refund.
According to Energy.gov, replacement of your air conditioning system can result in energy savings of 20 to 40%! Imagine that, so let’s say your cooling cost is $200 per month and you cool 6 months out of the year, that’s on average a savings of $360 per year. Not too shabby and that’s from a system that can last 10 to 15 years. And that’s just the financial benefit.
Smaller home improvements through tax refunds
You may find that your entire air conditioning system doesn’t need replaced, maybe you just some add-ons to your current system; if that’s the case, add these smaller home improvements through tax refunds for an even larger return on investment.
- Maybe it’s time to consider window replacement; single pane windows or windows with broken seals aren’t efficient and make your air conditioning system work harder.
- Add storm doors to your home for additional weather protection and energy savings.
- Consider a whole house humidifier; controlling humidity makes your air conditioning system run more efficiently.
- Have your duct work cleaned if it has been a few years, and especially if never. Crud in your duct work lowers air quality in your home and also reduces the life of your overall system.