Best Ways to Use Your Tax Refund to Upgrade Your Kitchen

According to the IRS, Americans can expect a windfall of around $3,000 via their annual tax refund. If you are one of the thousands of Americans who enjoy a little extra revenue come tax refund season, the question of what to do with this money is likely on your mind. If you want to improve your home with your refund —a worthy endeavor— we recommend you consider the following ways to use your tax refund for kitchen upgrades and simultaneously add value to your home:

Upgrade Your Lighting

A super easy and inexpensive way to upgrade the whole look of your kitchen is to update your lighting. You can add string lighting or puck lighting underneath your cabinets to illuminate the counter space and add ambiance. You can also have a dramatic pendant or gooseneck sconce over your sink or add pendant lighting over a peninsula or island. The idea is to find modern upgrades to your current lighting. This small change will have a dramatic effect on the overall look of the room.

Add an Island

If you have space, consider adding an island to your kitchen. This can not only give you more prep space for cooking but can also serve as an additional dining area for your family. Don’t feel limited by your current cabinets when choosing an island. You can actually go opposite in terms of color or finish on the island as this is trending right now. You don’t have to “match” your island to the rest of your kitchen cabinetry. Just make sure the island compliments what is already in your kitchen.

Upgrade or Replace Cabinets

Speaking of cabinets, there is likely no other feature in your kitchen that will date it more than the cabinets. While replacing them outright is an option if you have the budget for it, you can also repaint them to change the look of the cabinets. If the cabinets themselves are sound, it makes sense to simply refinish them or repaint them instead of replacing them.

Consider New Appliances

With your tax refund, you could consider replacing outdated appliances. While you might not be able to replace the whole room’s worth, you can replace the oldest appliance. The new energy-efficient designs of most modern appliances will likely save you money over the course of the year as well, which is another benefit of replacing the old, more energy-consuming varieties. Look for sales on appliances encouraging homeowners to use their tax refunds to upgrade this time of year.

Update Your Hardware

An ultra-simple way to upgrade the look of your kitchen is to replace all the hardware. You can do this even if you don’t repaint or replace the cabinets. Replacing all the hardware can have a dramatic effect on the room, with little monetary investment required. It’s also a fairly fast upgrade, one you can likely do in a single day. You can also replace your faucet for a similar effect with little time or monetary investment requirement.

Add an Interesting Backsplash

Finally, the last way to use your tax refund to upgrade your kitchen is to install a new backsplash. This one change will do wonders at amping up the personality in your kitchen. Don’t be afraid of patterns when you install your backsplash. Of course, even a simple white subway tile can be a beautiful yet classic look. Either way, dramatic or classic, backsplashes are a great way to upgrade your current kitchen.

Put the above home upgrades that add value into practice to get the most out of your tax refund and upgrade your kitchen. This is how to use your tax refund wisely!

Contact the Phoenix kitchen design experts at Diamond Kitchen and Bath to get started on your kitchen remodel project today! Visit one of our Valley showrooms to get inspired.