According to the Canada Revenue Agency, tax refunds are issued from 2 weeks to 16 weeks after filing a tax return, all depending on the type of return you filed. Electronically filed tax returns are usually granted the tax refund the fastest (around 2 weeks) while paper-filed returns take longer (somewhere between 8 to 16 weeks). The average tax return received in Canada is around $1,789.
Whether you have just received your tax return or you’re anticipating it sometime soon, you may be looking for home renovation ideas that you can do with your tax refund.
You may be thinking of:
- Repainting your home
- Getting a new front door
- Buying energy-efficient replacement windows
- Having new kitchen countertops installed
- And so on!
Whatever the case may be, you might be looking for home renovation ideas that fit within the $1000 to $2000 range or less. If so, then you’re in luck because this article gives you a comprehensive list of home renovation ideas that typically fit within this budget range.
Let’s get started!
1. Light Up Your Home
There are three main kinds of lighting that you can consider when renovating your home: task lighting, ambient lighting, and accent lighting.
As the names suggest, task lighting is mainly for practical purposes, enhancing lighting to make regular tasks easier – this can be preparing food in the kitchen, doing skincare in the bathroom, and so on. Meanwhile, ambient and accent lighting address more aesthetic needs like brightening up the space, getting rid of gloomy corners, highlighting decor, and so on.
When installing new lighting fixtures using the existing wiring in your home, the price breakdown usually involves the light itself plus what you will pay the electrician for installation. Generally, homeowners will spend a total of $150 to $500 to install one new lighting fixture; however, this price can go up depending on what the chosen lighting fixture is.
Chandeliers and pendant lights may not only enhance the task lighting for areas like the kitchen, dining areas, and living room, these can also greatly uplift the ambience of your home. They do, however, cost a bit more than standard lights, since making chandeliers involves a more complex manufacturing process.
For more pragmatic homeowners, installing smart lighting can be the most appealing option. Smart lighting that can change colours costs about $20 to $40 per bulb. With your tax return, you can opt for this simple home improvement idea and get the convenience of controlling your lights from your smartphone or from a smart speaker.
Installing outdoor lighting can be on the pricier spectrum, costing a total of around $2900 — however, the upgrade in terms of aesthetics for your front yard or backyard can be breath-taking. An added bonus is that these lights also make these outdoor spaces of your home safer at night.
2. Have a Bathtub Installed
If you don’t have a bathtub in your home yet, you are missing the benefits of having one. With a bathtub, you will be able to:
- Take refreshing hot baths whenever you need it (especially for winter) but you will
- Alleviate breathing problems whenever necessary
- Have an easier time bathing small children
- Improve the overall look and desirability of your bathroom
- Increase the value of your home
The average cost of having a new bathtub installed (into a bathroom that already has the space for it) is pretty steep — around $4,000. However, this cost depends on the type of the tub and whatever modifications are needed to install it. The price can go as low as $1300, or in some cases, go up to around $6700. If this is a home renovation you are considering, it is advisable to secure a quote from a trusted plumbing service provider first.
Nothing like a fresh coat of paint to make your home look brand new. Though it’s an option to repaint only certain interior or exterior parts of the house, this runs the risk of making newly painted areas pop out from the un-repainted areas, thereby causing an aesthetic imbalance.
Therefore, it may be advisable to either repaint the entire interior or the entire exterior of the home. Due to the extent of these home renovation ideas, it is not recommended to do them as a DIY unless you have the skills and the time to get these done properly.
It is generally more affordable to have the entire interior repainted than the entire exterior of the house. However, this still depends on how big your house is. The price range for repainting the entire interior of an average home is around $1,600 to $5,600. Meanwhile, it will cost you around $3,000 to $7,000 to have the entire exterior repainted.
New kitchen countertops can make your kitchen look and feel absolutely brand new. Having new countertops can also increase the value of your home. The average price range of having new kitchen countertops is $1,500 to $4,500 but prices can also go as low as $1200 depending on square footage.
5. Waterproof Your Basement
As a home renovation idea, waterproofing your leaky basement is one of the most practical and beneficial choices on this list. This allows you to:
- Prevent expensive water damage costs
- Secure the structural integrity of your home
- Extend usable space for safe storage or as added living space. (Some homeowners even rent out their basement space for additional income.)
The average price range of waterproofing your basement is $2000 to $6500.
The most impactful home renovation idea when it comes to door replacement is regarding the entry or front door of your home. By choosing to have a well-sealed, high-quality front door with energy-saving properties, you will be able to have a more secure home while also immediately seeing returns in your investment in the form of decreased power bills.
Furthermore, replacing the front door adds to the exterior aesthetic of your home significantly because the front door is a large element in any home and is usually the first focal point of attention. On average, installing a new door, including the door frame and the labour involved is around $750 to $2,000.
Similar to front door replacement, window replacement can significantly impact the aesthetic of your home from the outside. New windows around your home can make the house look brand new. Furthermore, by investing in high-quality, energy-saving double glazed vinyl replacement windows, you can save on your power bill immediately while also protecting your home from uncomfortable temperature extremes.
Though the price may vary depending on the type of window that you choose, the average cost of vinyl windows is $400. Understandably, installing larger windows like bay windows and bow windows would carry a higher price — an average of $1,150 to $3,550 and $1,400 to $3,800 respectively.
Get Replacement Windows and Doors for the Best Price from One of Canada’s Most Trusted Manufacturers
As we’ve covered in this article, getting energy-efficient and sturdy windows and doors have multiple benefits.
You’ll get to instantly save on your upcoming power bills, you’ll feel more comfortable in your home, you may get noise reduction from the outside, and of course, you’ll be able to also increase the value of your property. However, all of these benefits hinge on you getting quality replacement windows or replacement doors from a trusted manufacturer.
Over the past 40 years, Clera Windows + Doors has provided thousands of high-quality windows and doors – each designed to fit the needs of every property owner. If you’re looking for windows and doors that have it all, look no further. Clera’s windows and doors are equipped with top-notch materials and technologies that make them durable, low-maintenance, secure, and energy-efficient.