Getting cash back after you buy or sell a house is a nice bonus, but what will you do with it?
Here are our top 12 suggestions on how to spend that money!
- New furniture: buying a new home means you’ll likely need (or just want) something new. Use your cash back to help you buy that couch or tv you’ve been eyeing.
- A vacation: let’s face it - buying a home is a stressful process, so what better way to unwind than to take a trip to relax? Use your cash back for a nice weekend away.
- Paying off your credit card: this is not glamorous, but if you’ve been spending money on new furniture for your home, your credit card bill is probably getting pretty high, so do the *responsible* thing and pay that credit card balance.
- Use it on your first mortgage payment: depending on your situation, your mortgage payment might be more or less than what you were paying before you moved, but either way, knowing you have it either fully paid or partially paid for your first month is a relief.
- Grill time: it’s time to show of your new yard to your friends and family and what could do that better than a grill party?
- Lawnmower: so you just moved from an apartment and now you have a lawn to take care of, too!
- Snowblower: If you moved to a new home with a driveway and you live anywhere that gets a lot of snow, invest in a snowblower, and do it before the first big storm. Or if you’re feeling brave, just opt for a couple of shovels.
- A car: if you’re moving to the suburbs from the city, you may need to purchase a car. While your cash back probably won’t pay for the full car, it can help you put more money down on a new ride. Or your cash back can cover several months of gas, insurance, and your existing vehicle expenses.
- A fancy restaurant: use your cash to try out the best restaurant in your new neighborhood
- Wedding expenses: if you have a wedding coming up AND you just bought a house - congratulations... But also, use your cash back for some of your wedding expenses - maybe the flowers or the DJ?
- College loans: if you’re still paying off your college loans, use this cash back to help pay those off
- Save it: use it as a “rainy day fund” or just keep it for anything you may have to fix in your new home