Painting and home improvement can be a significant expense, but it’s also one of the least expensive ways to add value to your property. Whether you’re looking to repaint your interior, exterior or both, it can help protect your investment and extend the life of your property.
A fresh coat of paint can revitalize built-ins and give rooms a more modern look. A good interior painting contractor will work to make the job as quick and easy as possible, reducing cleanup time and saving you money.
If you are a homeowner, deciding when to paint can be tricky. You will need to take several factors into account, including the weather, how many rooms you want painted and your schedule. When choosing a painting contractor, consider the company’s experience and track record for finishing projects on budget and on time as well as testimonials from previous clients.
Whether you’re an investor, landlord or just looking to upgrade your home for personal enjoyment, the right paint can help increase the value of your property. However, it’s important to know whether or not a paint project qualifies as a capital improvement in order to properly claim your expenses at tax time.
A capital improvement is any addition, alteration or improvement that increases the value of a non-commercial real estate and extends its useful life. According to the Internal Revenue Service, a painting is considered a capital improvement if it’s part of a larger renovation or remodeling project and can be claimed from your cost basis.