7 Ways to Invest Your Tax Refund | Living the Country Life
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7 Ways to Invest Your Tax Refund

If you have a refund coming your way, consider using it to improve your acreage and boost the value of your largest asset. AGCO, an agricultural solutions leader, gives advice on how to best invest in your home and land.
  • Update Key Rooms

    Regardless of the property, bathrooms and kitchens sell homes. Helen Saylor-Kimes of Saylor Realty in Osceola, Iowa, says that if your kitchen or bathroom needs updating, you should spend money on these two rooms. According to 2018 remodeling statistics, a homeowner will recoup an average 81.1 percent of the costs of a minor kitchen remodel and 70.1 percent for a midrange bathroom remodel. 

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Pay Down Your Mortgage

    "There are benefits to paying off your mortgage early," says Kelly Cook of AgCo. "This includes fewer financial obligations in retirement and peace of mind." While paying off your mortgage early won't eliminate your housing costs entirely, it lessens the burden. Mortgage interest is tax deductible, but in the long run you can save a bundle of interest costs by paying it sooner rather than later. 

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Add Curb Appeal

    Enhance your house and grounds with curb appeal! According to Saylor-Kimes, that includes landscaping or yard decoration like a pond. These projects are likely to add value to your acreage and be enjoyable to complete. It could be as simple as improving the planting around the house or adding landscaping throughout the property. For larger projects, spending money upfront to have a landscape designer develop a master plan is a good place to start. 

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Plant Trees

    "Don't underestimate the aesthetics of your property," says Cook. Planting trees can add value, and so can clearing old, dying timber. "Trees add beauty and privacy and can value as timberland." If you live in an area of the country where snowdrifts block driveways and roads, consider planting a live snow fence. It may qualify for cost-share under the Continuous Conservation Reserve Program if planted into an area that has a previous cropping history. Check with your local NRCS or FSA office regarding this possibility. 

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Image courtesy of AgCo

    Invest in a Tractor

    Living on an acreage often means work that you didn't have when you were an urban dweller. Clearing timber, removing snow and mending fences are just a few! A tractor can help out. Before purchasing one, Roger Harrod, a Massey Ferguson compact tractor dealer in Roopville, GA, recommends gustomers test-drive tractors they're considering. Before visiting a dealership, make a list of what you need and want to ensure you get the right one

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Improve or Add Buildings

    A wise capital investment is one towards building a shed, garage, or workshop or making improvements in barn roofs or building siding. More storage is almost always better: building a new structure will provide more space for cars or large equipment. 

    Date Published: February 26, 2018
    Date Updated: February 26, 2018
  • Add Fencing

    Whether your fencing protects valuable landscaping or outlines your land's perimeter, fencing will usually enhance the value of your acreage. Make sure to choose the right type of fencing based on what the land is used for. "Regardless of the type of fencing used, it should be well-maintainted–this maintenance cost should be a consideration when making your selection," recommends Cook.

    Date Published: February 26, 2018
    Date Updated: February 26, 2018

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