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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5160 W Village Drive Glendale, AZ 85308

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3 Beds

2 Baths

1,622 SqFt

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$499,800

3 Beds

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1683 W Cottonwood Lane Phoenix, AZ 85045

$499,800

3 Beds

2.5 Baths

1,977 SqFt

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Property Type Single Family Residence

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18326 N Gila Springs Drive Surprise, AZ 85374

$499,800

2 Beds

2 Baths

1,782 SqFt

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Beautifully designed home in the highly sought-after Sun City Grand community! Versailles pattern travertine flooring extends through the living area with a stone fireplace & additional sitting area off the kitchen ideal for a conversation or game table. The open kitchen boasts granite countertops, stainless steel appliances, drawer pull-outs, & RO. All bathrooms have been elegantly crafted with travertine & gorgeous vanities. Den area complete with custom built-in desk & shelving. The backyard offers a covered patio with a built-in BBQ ideal for hosting & citrus trees. Also featured, a 2-car garage with built-in cabinetry, water softener, & heat shield. You'll love the Sun City Grand community with amenities like a pool, spa, gym, clubhouse, sports courts, & fun community events!

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10778 W Mckinley Street Avondale, AZ 85323

$499,775

3 Beds

2.5 Baths

2,269 SqFt

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New home ready for move in this spring. Two-story Tisdale floorplan with sought after Craftsman style exterior. The first floor features a flex room with elegant double glass doors. This room can serve as a home office, game room or sitting area. The second floor features a loft, the owner's suite and two additional bedrooms. The spacious kitchen features stainless steel appliances with gas range and a large island with ample sitting space, overlooking the dining and sitting areas. The stylish cabinetry is a gray tone which is complemented by upgraded quartz countertops, subway tile backsplash, and wood color plank tile. Great home with spacious sitting and socializing areas. Home warranty included.

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$499,700

2 Beds

2.5 Baths

2,039 SqFt

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YOUR OWN BEAUTIFUL, SMARTLY DESIGNED HOME w/ open floor plan & Chef's gourmet kitchen! This classy Pursuit is packed w/ upgrades. Stunning curb appeal w/ Tuscan elevation, paver driveway, security door & leaded glass front door. Luxurious wood floors, soaring 10' ceilings & plantation shutters highlight this meticulously cared for beauty. The dream kitchen feat. Kitchen Aid stainless appliances inc. gourmet 6 burner gas range, addt'l wall oven, white cabinets w/ dbl pullouts, pots & pans, soft close, leaded glass inserts & quartz counters w/ backsplash. Escape to the spa-like primary suite w/ bowed window, roll-in tile shower & designer walk-in closet system. Epoxy garage w/ built-in cabinets & service door to garbage corral. Lushly landscaped yard w/ art turf, pergola & epoxy patio!

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1335 W Monroe Street Phoenix, AZ 85007

$499,600

3 Beds

2 Baths

1,628 SqFt

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Imagine residing in a home drenched in historical charm in Phoenix's Woodland Historic District. This abode is more than just a dwelling; it's a gateway to yesteryears, yet infused with contemporary comforts. Greeting you is an inviting front porch, leading to a living area where the original fireplace kindles tales of old. Across, the dining space reverberates with stories of grand meals past. Venturing further, you'll discover bedrooms that murmur ancient secrets, alongside a master suite that epitomizes today's opulence. The upper level hosts a generous bedroom, a blank slate for your creativity. Just a stone's throw from the Arizona Capitol, this location offers swift access to governmental hubs, entertainment arenas, and the lively downtown scene. Seize the chance to claim a slice of Phoenix's heritage in a neighborhood buzzing with renewal and rejuvenation.

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2480 S Pinegrass Road Show Low, AZ 85901

$499,500

2 Beds

2 Baths

1,492 SqFt

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Property Type Single Family Residence

Price Type --

BRAND NEW HOME TO BE BUILT! This virtual listing is an example of what we will build for you. Let's build you this beautiful custom home in Torreon for under $500,000 with standard features like stainless steel appliances, granite, soft close cabinets, LVP floors, walk-in shower, great room, LP Smart Siding (no staining), Trex deck, iron railing, AC, gas heat, covered back deck and more. Some interior & exterior selections can be made by the buyer. Great pine trees on this lot. To be built with buyer's cash or construction loan. We have lenders to accommodate this lot/home package. Estimated build time is 12 months from permits. We can also help design a custom home if you prefer. Other lots available. Call for details.

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7219 E Kramer Street Mesa, AZ 85207

$499,500

4 Beds

2.5 Baths

1,790 SqFt

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MLS # 6697684

Property Type Single Family Residence

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1182 E Crestridge Drive Casa Grande, AZ 85122

$499,500

4 Beds

2.5 Baths

2,420 SqFt

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13870 N 96th Street Scottsdale, AZ 85260

$499,500

3 Beds

3.5 Baths

1,873 SqFt

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Outstanding VALUE... Less than $267 a sq. ft. in Scottsdale! Large 3 bedroom, 3.5 bath townhome with expansive loft. Dual primary suites: 1 downstairs, other upstairs. Freshly painted interior. New A/C in 2021. Oversized 2.5 car garage. Walking paths and community pool. Oversized patio perfect for entertaining. Fantastic balcony with majestic mountain views. Brand new roof 2022. LOWEST PRICE PER SQ FT 3BED UNIT WITH A 2 CAR GARAGE IN SCOTTSDALE. Don't wait - See it TODAY!

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20434 W Meadowbrook Avenue Buckeye, AZ 85396

$499,500

2 Beds

2 Baths

1,657 SqFt

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MLS # 6625864

Property Type Single Family Residence

Price Type --

VICTORY living is yours in this stunning 2022 build Lennar home! 1657 SF of living space gives you 2 beds, 2 bath with a huge bonus room that can be used as a formal dining room or a spacious office/den! Tile floors everywhere but bedroom 2 and closets! Stunning white theme kitchen with stainless steel appliances, quartz counters and under cabinet LED lighting! Spacious main living area is an entertainers dream! Let the fun spill out into the backyard where your oversized covered patio is paired with a professionally installed hardscape patio just perfect for a outdoor dining set and BBQ! Views of the White Tank Mountains from your back yard and a beautiful wash/greenspace views! Enjoy the tankless gas water heater for UNLIMITED hot water! Flexible COE, so send us an offer!

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