Menu

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Are You Saving Up To Buy a Home? Your Tax Refund Can Help

04/18/25

How Your Tax Refund Can Help You Get Closer to Owning a Home in 2025

Are You Saving Up To Buy a Home? Your Tax Refund Can Help

How Your Tax Refund Can Help You Get Closer to Owning a Home in 2025

A cozy living room with a light-colored couch, pillow, blanket, coffee table, side table, hardwood flooring, and white walls.

You’ve been working on your savings and dreaming of that moment when you finally have keys to a place that’s truly yours. What you might not realize is that your tax return could give you a little extra cash to help you get there sooner. As Freddie Mac notes:

“ . . . your tax refund from the IRS can be a useful supplement to your homebuying budget.” 

So, if you’re getting a tax refund this year, you can use it to help you pay for some of the upfront costs that come with buying a home, like the down payment and closing costs. And here’s the best part.

On average, people are getting even more money back in their refunds than they did last year. While it’s not a big increase, the visual below uses data from the Internal Revenue Service (IRS) to show the average individual’s refund is 3.9% higher this year:



Of course, how much money you may get in your tax refund is going to vary. But when it comes to buying a home, any extra cash can help move things forward. Here are a few examples of how you can put that money to good use, according to Freddie Mac:

  • Save for a down payment – Saving for a down payment can be one of the biggest hurdles for buyers. Setting aside your tax refund for this expense could help you get to your goal faster. Just remember, it’s typically not required to put 20% down.
  • Pay for closing costs – Closing costs include fees for things like the appraisal, title insurance, and underwriting of your loan. They’re generally between 2% and 5% of the total purchase price of the home. So, putting your refund toward these costs can make things more manageable on closing day.
  • Lower your mortgage rate – Your lender might give you the option to buy down your mortgage rate. If you qualify for this option, you could pay up front to have a lower rate on your mortgage. If affordability is tight for you at today’s rates and home prices, this may be worth exploring.

But you don’t have to figure it all out on your own. Working with a team of trusted real estate professionals who understand the homebuying process, what you need to save, and any resources you can tap into will help you make sure you’re ready to buy when the time comes.

Bottom Line

When it comes to saving for a home, every dollar gets you one step closer to your goal. While your tax refund may not be enough to change the game, it can help give your homebuying fund a boost.

What would having your own home mean for you or your family this year? Let’s talk about it and we’ll come up with a strategy for success. 

Other Recent Blogs

Check out the latest articles on real estate trends.

The Ultimate 5-Day Luxury Atlanta Itinerary

The Ultimate 5-Day Luxury Atlanta Itinerary

07/8/25

An elevated travel experience through Atlanta’s finest dining, art, shopping, and wellness

A modern dining room with a modern table and chairs. There is a swimming pool visible through the windows behind the table.

Think No One’s Buying Homes Right Now? Think Again.

Think No One’s Buying Homes Right Now? Think Again.

07/7/25

Why Buyers Are Still Active and What Sellers Need to Know

Discover Refined Living in This Luxury Sandy Springs Estate

Discover Refined Living in This Luxury Sandy Springs Estate

07/2/25

Luxury, privacy, and space come together in this exceptional custom-built estate at 120 Nezhat Place

Real Estate

Key Questions to Ask During an Open House in Brookhaven, GA

Key Questions to Ask During an Open House in Brookhaven, GA

07/1/25

Essential Inquiries for Your Next Home Viewing in Brookhaven

Lifestyle

The Ultimate Guide to Atlanta's Must-Try Ice Cream and Frozen Treat Destinations

The Ultimate Guide to Atlanta's Must-Try Ice Cream and Frozen Treat Destinations

07/1/25

From classic scoops to bold soft serve and gourmet popsicles, here’s where to cool down this summer in Atlanta

Real Estate

Why Homeownership Is Going To Be Worth It

Why Homeownership Is Going To Be Worth It

06/30/25

Emotional comfort, personal freedom, and long-term value—why owning a home still matters

Evans, GA Homes For Sale

Lifestyle

The 10 Best Bakeries in Atlanta You’ll Want to Try

The 10 Best Bakeries in Atlanta You’ll Want to Try

06/27/25

From fresh-baked bread to late-night doughnuts, these Atlanta bakeries serve up something for every craving

Winnetka, IL Condos For Sale

Real Estate

What Every Homeowner Needs To Know In Today’s Shifting Market

What Every Homeowner Needs To Know In Today’s Shifting Market

06/26/25

A return to normal doesn’t mean less opportunity—it just means smarter strategy

Real Estate

Choosing the Right Paint Colors for Your Brookhaven Home

Choosing the Right Paint Colors for Your Brookhaven Home

06/26/25

Transform Your Brookhaven Home with the Perfect Paint Palette