Advertiser Disclosure

advertising disclaimer
Skip to main content
new blinds

5 Home Improvements Your Stimulus Check Could Pay For


Apr 14, 2020 by Maurie Backman
Get our 43-Page Guide to Real Estate Investing Today!

Real estate has long been the go-to investment for those looking to build long-term wealth for generations. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide.

*By submitting your email you consent to us keeping you informed about updates to our website and about other products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.

The COVID-19 crisis has been battering the U.S. economy for about a month now, closing down countless small businesses and driving millions of Americans into unemployment. Thankfully, there's a silver lining -- a $2 trillion economic stimulus package that was signed into law in late March.

Beginning in April, eligible Americans whose income falls below a certain threshold will receive $1,200 apiece, and that money could serve as a lifeline for those who are struggling to pay their mortgages or put food on the table. That lump sum can also be used to help workers pad their emergency savings so that if things get worse, they'll have options.

If you're out of a job right now, you'd be wise to either bank your stimulus payment or use it to cover near-term essentials. But if your income hasn't taken a hit due to COVID-19, you have a healthy savings account, and you're in a reasonably solid place financially, you might consider using that money to make your home a more comfortable, attractive place to live. Here are a few improvements your stimulus check can pay for.

1. Upgraded appliances

If your home's appliances are on their way out or don't work all that efficiently, your stimulus check may suffice for replacing one or two. A new dishwasher, for example, costs $400 to $700 on average. Meanwhile, you might score a washer and dryer for under $1,200, and updating yours could make the process of doing laundry far less painful.

2. Better curb appeal

Your home's exterior is the first thing people are apt to notice about it. If yours could use some sprucing up, why not invest your stimulus check in new plants, shrubs, or features that give your lawn and backyard a clean, inviting look? You can also use that money to replace parts of a worn fence or swap out your existing front door with a nicer one.

3. New window treatments

If your blinds and shades have seen better days, your stimulus check could be your ticket to replacing them. You can update your windows for under $100 a pop, which means you have the opportunity to redo several high-profile rooms in your home, like your living and dining rooms.

4. New bathroom fixtures

We all spend time in our bathrooms, so if you're sitting on $1,200, you can use that money to upgrade yours. Replace older toilets with low-flow models -- they tend to look more modern and can save you money on your water bills, too. You may also want to replace rusted faucets with newer ones, upgrade to a spa showerhead, and consider installing new lighting if you're unhappy with your current setup.

5. A comprehensive paint job

Paint is a relatively cheap investment, and if you're able to do the work yourself, you could easily give your interior a facelift with your stimulus check. Add some color to your kitchen or update your bedroom walls for a fresh new look. Given that most people are stuck at home for the foreseeable future, it's a great time to undertake this sort of project -- especially if you don't need to dip into your savings to cover it.

Let's be clear: If you're hurting in any way financially, you shouldn't consider spending your stimulus money on home improvements. But if you don't need that money to boost your savings or pay for essentials like food and medications, you might as well have some fun with it and do some improvements you'll be proud to show off once the crisis is over.

Got $1,000? The 10 Top Investments We’d Make Right Now

Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month.

Find out how you can get started with Real Estate Winners by clicking here.

The Motley Fool has a disclosure policy.