Your Tax Return: Bring it Home

This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question – “What do you plan on doing with your tax refund?”

The results of the survey were interesting. Here is what they plan to do with their money:

• 41% – Put it into savings
• 38% – Pay off debt
• 11% – Go on a vacation
• 5% – Make a major purchase (car, home, etc.)
• 5% – Splurge on a purchase

Upon seeing the research, The National Association of Realtors (NAR) wondered if this could help with a constant challenge cited by many people who wish to purchase a home – saving for the down payment.

In a recent post in NAR’s Economists’ Outlook Blog, they explained:

“With a sizable tax refund, the average American would have a decent down payment depending on which region or market you live in.”

They went on to add:

“Approximately 5 percent of all respondents indicated they would make a major purchase which does not seem like a lot. However, there is a bigger group 41 percent who see saving the tax return is best and that group could be potential home buyers if they are not already.”

In other words, putting that money toward purchasing a home is a form of savings.

Bottom Line

When one considers that first-time home buyers in 2016 had an average down payment of 6%, a decent tax return could go a long way toward the necessary funds needed for a down payment on a house. Or perhaps, the down payment needed by a son or daughter to make their homeownership dream a reality. How are you going to spend your return?  Give me a call for some ideas – J.P. Cook – 602-320-4253.

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540 S Essex Lane Mesa, AZ 85208

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3 Beds

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1,780 SqFt

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2030 E Michigan Avenue Phoenix, AZ 85022

$494,511

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6095 N Stratford Court Rimrock, AZ 86335

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$494,000

3 Beds

2.5 Baths

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Public Remarks: This corner oversized N/S lot in the highly sought after The Lakes at Rancho El Dorado. Has pond/waterfall views in a tranquil backyard setting with a covered patio. Enjoy relaxing after work with a glass of wine in your hot tub. Bring on the good life! Has RV gate to enable you to park your weekend getaway vehicle, 2.5 garage, epoxy floors, storage and additional parking. Newly remodeled eat-in-kitchen with large breakfast bar. 3 bedroom spilt + den, ensuite has separate shower/tub, generious closet with an outdoor entrance. Minutes away from shopping, dining and golf course.

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11122 N Thunderbird Road Maricopa, AZ 85139

$494,000

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BEAUTIFUL 3.33 ACRE PROPERTY IDEAL FOR SPACIOUS LIVING AND ENTERTAINMENT. PERFECT FOR HORSES, ANIMALS, TOYS, RV, OR ALMOST ANYTHING YOU CAN IMAGINE! LARGE FENCED PASTURE AREAS AND OUTBUILDINGS. NEWLY REMODELED OPEN FLOOR PLAN INSIDE WHICH INCLUDES NEW CABINETS, GRANITE COUNTERTOPS, FRESH FLOORING (CARPET & VINYL THROUGHOUT), UPDATED AND IMPROVED LED LIGHTING AND CEILING FANS IN ALL BEDROOMS. UPGRADED AND IMPROVED STUCCO. FRONT AND BACK FULL LENGTH PORCH WITH WOOD POSTS AND NICE EXTERIOR LIGHTING. PROPERTY INCLUDES PRIVATE AND SEPARATE GARAGE WITH NEW DOOR AND OPENER. COMMUNITY WATER SERVICE TO PROPERTY VIA THUNDERBIRD WATER DISTRICT. COME BY AND CHECK IT OUT FOR YOURSELF!!!!!

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43257 W Estrada Street Maricopa, AZ 85138

$494,000

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**SELLER will pay off FULL $22k solar lease at closing with a FULL price offer*** GORGEOUS 2-story, single-family home! This home offers 5 Bedrooms and 4 Bathrooms. The main level has a Living Room-Dining Room combo, and an open flow between the Family Room and eat-in Kitchen. The Kitchen features granite-slab countertops with stainless-steel appliances and a center island with additional seating and storage! The Primary Bedroom has a private bathroom with dual sinks and a walk-in closet! Relax and entertain in the private back yard with your in-ground heated pool! Set up your favorite grill on the covered patio and enjoy time with loved ones! 3-car garage for your vehicles and hobbies! Call now for a tour!

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$494,000

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Highly sought after home in Sun Lakes Country Club perfect for entertaining. Beautiful kitchen with granite countertops, all new appliances, hardware, and recessed lighting. New luxury flooring throughout with new carpet in bedrooms and living room. Bathrooms have been updated with new toilets, vanities, sinks faucets and plumbing. 30+ new can lights making the home light and bright. Vaulted Ceilings, new paint, fixtures, doors and hardware throughout. AC replaced in 2018 and still under warranty. Epoxy on garage floor, gutters, roof was recoated 2024, too many upgrades to mention. This home is move in ready. If you're looking for a resort lifestyle in an updated home., look no further.

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$493,990

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Explore this attractive Alden home, ready for quick move-in! Included features: an inviting covered entry; a dining nook with center-meet doors opening onto a generous covered patio; an open great room; a gourmet kitchen boasting 42'' upper cabinets, quartz countertops, a center island and stainless-steel appliances, including a gas range; and a luxurious primary suite showcasing an extra window, a private bath with double sinks and a large walk-in closet. This home also has airy 10' ceilings, 12'' x 24'' stone tile flooring, cultured marble bathroom countertops, ceiling fan prewiring, front yard landscaping and a concrete-paver driveway and walkway.

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