Tax Refunds Fuel Home Improvement Boom, New HomeServe Survey Finds

NORWALK, Conn.--(BUSINESS WIRE)--As the April 15 tax deadline approaches, a new survey from HomeServe, a leading provider of home repair solutions, reveals a powerful trend: many American homeowners are planning to invest their tax refunds directly into their homes. The poll of 568 homeowners indicates that three-quarters of homeowners (76.4%) anticipate receiving or have received a refund this year. Of those expecting a refund, nearly six in ten (59.68%) plan to use their refund on home-related expenses, making it the most popular use of tax returns, ahead of paying down debt, travel or personal shopping.

“Tax season has become a pivotal time for home investment, providing a dedicated financial boost to tackle everything from long-overdue repairs to exciting new projects," said Tom Rusin, CEO of HomeServe.

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Key Takeaways from the HomeServe Poll:

• A Significant Windfall: More than 60% of respondents expect a refund of at least $1,000, providing substantial capital for projects.
• The Home Is the Top Priority: Nearly 60% of homeowners receiving a tax refund plan to spend it on their home, making it the most common use of the funds.
• Projects Get the Green Light: The most common home uses for refund money include starting or completing home improvement projects (51.06%), refreshing or redecorating living spaces (35.39%) and tackling long-delayed repairs (35.39%).
• Cost Is the Biggest Barrier: A lack of budget was cited by 46% of respondents as the primary reason for delaying home improvements, positioning tax refunds as a crucial opportunity to move projects forward.

“This data confirms what we at HomeServe see every day: homeowners are incredibly passionate about maintaining and improving their homes, but budget is often the biggest obstacle,” said Tom Rusin, CEO of HomeServe. “Tax season has become a pivotal time for home investment, providing a dedicated financial boost to tackle everything from long-overdue repairs to exciting new projects.”

What is the Biggest Hurdle in Home Improvement?

If you have been delaying a home renovation or a critical repair, you are far from alone. According to the HomeServe polling data, the number one factor holding homeowners back is a simple lack of budget. Roughly 46% of respondents cited cost as their primary roadblock, far outpacing concerns like finding a reliable contractor (18.13%) or not knowing where to start (6.69%). When essential repairs and desired upgrades are stalled by tight household budgets, tax season provides a unique opportunity to act.

Rather than letting projects languish, proactive homeowners are strategically deploying their tax refunds to break through the budget barrier sooner rather than later. A combined 53% of respondents say they’ll begin their project(s) within three months. The HomeServe poll also reveals that putting a refund into the home surpassed paying down debt (52.46%), going on vacation (26.58%) or buying new gadgets (12.85%).

Where Exactly Is the Money Going?

Homeowners are using these funds for a wide range of important tasks. The HomeServe data shows a strong focus on maintaining and enhancing their primary asset – their home:

• 51.06% will start or complete a home improvement project (e.g., remodeling).
• 35.39% will refresh or redecorate a living space.
• 35.39% will finally tackle a home repair they’ve been putting off.
• 14.61% will invest in smart home or energy-saving upgrades.

Survey Methodology: The survey was conducted by HomeServe on April 9, 2026, capturing responses from 568 individuals who identified as homeowners who anticipate receiving a tax refund.

To learn more about HomeServe, a leading home repair solutions company serving more than 4.6 million customers across North America, visit www.HomeServe.com or visit us on social media via Facebook, X, Instagram and LinkedIn.