MoneyHL Archives

Jun

2025

11 Financial Steps to Take After a Spouse’s Death

11 Financial Planning Steps to Take After a Spouse’s Death

By Bob Haegele | Financial Independence, Life & Career, money | Comments Off

The death of a spouse can be one of the hardest things a person ever has to go through. It can be extremely difficult to process how we feel during such a difficult time. In addition, losing a spouse can also cause financial strain.

Depending on the circumstances, it could mean a loss of income or a bigger tax bill. Fortunately, there are certain steps you can take to help avoid the worst impacts of an already precarious situation.

Here are 11 key financial steps to take after a spouse’s death. This insight can help as you move through a deeply challenging time.

Key Points

• Consider a support network — personal and/or professional — that can help you navigate your emotional and financial care.

• Gather and organize essential documents like birth, death, and marriage certificates and any life insurance policies.

• Update all financial accounts, including checking, savings, investments, and credit cards.

• Review estate plans, beneficiary accounts, and Social Security survivor benefits with a financial advisor, where needed, to understand options and tax implications.

• Revise your budget to account for income changes and consider downsizing to manage expenses and reduce financial stress.

The Difficulty of Losing a Spouse

As you navigate this difficult and uncertain time, it’s important to surround yourself with the right people. A spouse can be someone’s biggest source of emotional support, and you may need someone to provide that support where your spouse would have in the past.

Who that person might be won’t be the same for everyone. Perhaps you have a relative or a close friend who will be there for you. If necessary and if you have the means, you could also consider working with a professional therapist. For many people, the best solution will be to talk to a few people.

During this time of tremendous grief and stress, it can be wise to remember to take care of yourself. While there will be a lot to manage during this time, it’s important to get the rest, good nutrition, and the other forms of self-care that you need.

11 Financial Steps to Take After Losing a Spouse

Taking the right steps after losing a spouse can help you avoid financial stress later. You should ensure you have documents in order, update records, and submit applications as necessary.

Here are 11 steps that will help with this endeavor and can provide a form of financial self-care as you get these matters under control.

1. Organize Documents

One of your first steps should be to gather and organize documents. You may need several documents, such as a birth certificate, death certificate, and marriage license. You will likely want to order or make several copies of each, as you might need them multiple times as you work through the steps ahead.

2. Update Financial Accounts

You may have several financial accounts that need updating, especially if you and your spouse had joint finances. For example, you might have personal banking and investment accounts with both names. You might also have credit cards in both names. Contact the financial institution for each account and let them know it needs updating.

3. Review Your Spouse’s Estate and Will

Review your spouse’s estate and will to see how their assets should be handled. Their planning documents, such as a will, are usually filed with an attorney or may be held in a safety deposit box. Contact the attorney with whom your spouse filed the documents to find the paperwork if necessary.

If they didn’t already have a will or estate plan, you can work with an attorney to determine next steps. State law will likely play a role in determining how assets are managed. Working with a lawyer skilled in this area can be an important aspect of financial planning after the death of a spouse.

4. Review Retirement Accounts

Your spouse may have left retirement accounts, such as a 401(k) or individual retirement account (IRA). Check whether you are the beneficiary of your spouse’s retirement accounts. If you are the beneficiary of any of them, you will need to establish that with the institution holding the account. When that’s settled, it will likely be up to you to determine how to handle the funds.

While it is possible to transfer all of the money to your accounts, that isn’t always the best move. For instance, if you roll a 401(k) into your IRA and need the money before age 59½, there will be a 10% penalty on the withdrawal. There may be tax consequences, too.

In some cases, the best choice may be to leave the money where it is until you reach retirement age, if you haven’t already.

5. Consider Your Tax Situation

A spouse’s death can also create tax complications. For example, the tax brackets for individual filers have lower income thresholds than those for married couples filing jointly. A surviving spouse may still file jointly in the year their spouse dies (assuming they don’t remarry in that timeframe), and, in certain circumstances, may also be able to claim the qualifying surviving spouse filing status in the two years following in order to receive the lower tax rate.

Otherwise, if you are still working and filing as a single, you might find yourself in a higher tax bracket, especially if you were the breadwinner. As a result, you might decide to reduce your taxable income by putting more money in a traditional IRA or 401(k).

6. Review Social Security Benefits

Another financial step to take after a spouse’s death: Review Social Security benefits if your partner was already receiving them. If you’re working with a funeral director, check if they notified the Social Security Administration of your spouse’s passing; if not, you may take steps to do so by calling 800-772-1213.

If you were both receiving benefits, you might be able to receive a higher benefit in the future. Which option makes the most sense depends on each of your incomes.

For instance, if your spouse made significantly more, you might opt for a survivor benefit.

Recommended: 9 Common Social Security Myths

7. Apply for Survivor Benefits

Survivor benefits let you claim an amount as much as 100% of your spouse’s Social Security benefit. For instance, if you are a widow or widower and are at your full retirement age, you can claim 100% of the deceased worker’s benefit. Another option is to apply for survivor benefits now and receive the other, higher benefit later.

You can learn more about survivors benefits on the Social Security website.

8. Review Your Budget

If you had joint finances with your spouse, you should revise your budget. Chances are, both your expenses and your income have changed. While you may have lost the income your spouse earned, your Social Security benefits may have increased.

Your revised budget should reflect all these changes and reflect how to make ends meet in your new situation. This kind of financial planning after the death of the spouse can be invaluable as you move forward.

9. Downsize if Necessary

As you review your budget, you may realize your living expenses will be too much to cover without your spouse’s income. Maybe you want a fresh start, or maybe you decide the big house you owned together is too much space these days. You might move into a smaller house and sell a car you no longer need.

Whatever the case, downsizing your life can be a way to not only lower costs but also simplify things as you enter this new phase. Financial planning for widows

10. File a Life Insurance Claim

If your spouse had a life insurance policy with you as the beneficiary, now is the time to file a claim. It might include a life insurance death benefit. You can start by contacting your insurance agent or company. Life insurance claims can sometimes take time to process, so it’s best to submit the claim as soon as possible.

Your spouse might have had multiple policies as well, such as an individual policy and a group policy through work. You might have to do some research and file multiple claims as a result. And, once you receive a life insurance benefit, you will need to make a decision about the best place for that money.

11. Meet With a Financial Advisor

These steps might be a lot to process, and you might feel overwhelmed thinking about everything you must do. And you may not know the best way to handle the myriad decisions — benefits, retirement accounts, investments, etc. You likely don’t want to make an unwise decision, nor wind up raising your taxes.

Fortunately, some financial advisors specialize in this very situation. It can be worth meeting with one at this moment in your life, at least for a consultation. They can help you decide how to handle your assets as you move forward and help you do some financial planning for widows. That can help to both reduce your money stress and set you up for a more secure future.

The Takeaway

For many people, there is nothing more emotionally challenging than losing a spouse. It can also be a financially challenging time as well. As you navigate this difficult time, there is no shame in seeking a helping hand. By taking steps like reviewing estate plans, filing a life insurance claim, and applying for survivor benefits, you can take control of your finances as you move into this new stage of life.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Which is the most important financial step to take after a spouse’s death?

There isn’t one single step that is most important. However, filing insurance claims, reviewing your spouse’s will, applying for any survivor benefits, and updating financial accounts are among some of the important moves to make.

How can I help a widow(er) financially?

How you can help a widow depends on your expertise and how long it has been since the widow lost their spouse. If the death happened recently, they might still need help submitting documents and updating accounts. However, they might need emotional support long after that process is done.

Are there any tax breaks for widow(er)s?

Widow(er)s may qualify for certain tax breaks, such as state property tax credits. Check with your state’s department of revenue to find out what tax breaks are available, if any.

Photo credit: iStock/martin-dm

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*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

SOBNK-Q225-094

Jun

2025

How to Invest in Gold: Tips for 1st Time Gold Investors

By Colin Dodds | Growing Wealth, invest, Investing | Comments Off

There are numerous ways to invest in gold, including buying physical coins or bullion, or even through stocks or funds. But there are a lot of things to take into consideration before investing in gold, especially for first-timers.

As you build your investing portfolio, you might wonder: Is gold a good investment? While some investors may be interested in it as a hedge against inflation or market downturns, or to further diversify their portfolio, it’s important to know that investing in gold isn’t simple, especially for first-time investors. One reason is that there are so many ways to invest in gold, each with their own pros and cons.

Key Points

• Investors may invest in gold through physical gold, coins, jewelry, mining stocks, ETFs, mutual funds, futures, and options.

• Consider factors like cost, storage, market volatility, and purity when choosing how to invest in gold.

• Physical gold, coins, and jewelry offer direct ownership but may have high costs, storage needs, and markups.

• Gold mining stocks, ETFs, mutual funds, and derivatives provide various levels of risk and potential returns.

• First-time investors should explore gold as a hedge, verify authenticity, research risks, and actively monitor derivatives.

Why Some Investors Like Gold

Historically, investors have turned to gold as a way to hedge against the possibility of inflation or events that could negatively impact the equity markets. And while it can be volatile in the short term, gold has historically held its value well over the long term. Even investors who are not particularly concerned about inflation or about calamities affecting the broader market, may turn to gold as a way to diversify a portfolio.

5 Ways to Invest in Gold

For anyone considering investing in this precious metal, it can be helpful to familiarize yourself with the different ways one can invest in gold.

Buy Physical Gold

When thinking of ways to invest in gold, the first image that may come to mind is piles of gold bars in a place like Fort Knox. Those bars are also known as bullion, and it comes in bars that can be as small as a few grams, or as large as 400 ounces. The most common denominations of gold bullion are one- and 10-ounce bars.

For many investors, even the one-ounce bars can be too expensive, as they can cost thousands of dollars each. And because the bullion is a physical item, there’s no easy way to own a fraction of a bar. But if you do want to own bullion directly, the first order of business is to find a reputable dealer to buy from, and then look into the costs of delivery and insurance for the asset. Another option if you buy bullion is to pay for storage, either in a large vault or in a safety deposit box at a bank.

Buy Gold Coins

Gold coins offer another way to directly own the shiny yellow metal, in a variety of denominations including half-ounce and quarter-ounce. Well-known gold coins include South African Krugerrands, Canadian Maple Leafs, and American Gold Eagles, which have been known to sell at a premium to their actual gold content among collectors.

While you may be able to buy gold coins at a discount from local collectors or pawn shops, most investors will likely opt for a reputable dealer. As with bullion, it is important to protect this hard asset, either through insurance, or with a vault or safe deposit box.

Buy Gold Jewelry

If you don’t want your gold investment to just sit in a vault, then gold jewelry may be appealing. But it comes with its own considerations. The first is that gold jewelry may not have as much actual gold content as the jeweler claims. Verifying the authenticity of a piece not only protects you, but it will also help when it comes time to sell the piece. One way to do this is to only buy jewelry from reputable dealers, who can also deliver documentation about the piece.

Another point to remember is that a piece of jewelry will also come with a markup from the company that made it, which can make the piece cost as much as three times the value of its metal. And jewelry typically isn’t 100% pure gold — or 24 karats — so it’s important to know the purity and melt value of the jewelry before you buy.

Buy the Stocks of Gold Mining Companies

One way to take advantage of growth in the value of gold with your existing brokerage account that you might want to consider is to buy the stocks of companies in the gold business, including miners and refiners.

While gold stocks tend to go up and down with the price of gold, they may also experience price changes based on the company’s own prospects.

Buy Gold ETFs and Mutual Funds

If the risks of individual mining and refining companies are too much, you may want to consider a gold exchange-traded fund (ETF) or mutual fund. These vehicles — which are available through one’s brokerage account — invest in gold in different ways.

Buy Gold Futures and Options

Experienced investors with some familiarity trading derivatives may consider investing in the gold market through futures and options. These contracts allow the investor to buy or sell gold for an agreed-upon price by a fixed date. To trade these contracts, an investor needs a brokerage account that offers the ability to trade them.

An investment in gold options or futures contracts, however, requires active monitoring. These contracts expire on a regular basis, so investors have to be ready to sell, roll over, or exercise them as gold prices change, and as the contracts reach their expiration dates.

💡 Quick Tip: How to manage potential risk factors in a self directed investment account? Doing your research and employing strategies like dollar-cost averaging and diversification may help mitigate financial risk when trading stocks.

Considerations for Investing in Gold

Perhaps the most important thing to know about investing in gold is that it’s all but impossible to get a sense of where its value is headed in the near-term. In other words, predicting the future price of an idiosyncratic and volatile commodity like gold is all but impossible.

For instance, back in 2020, gold increased in value by 24.6% in U.S. dollars, and reached all-time highs in a number of currencies, in anticipation of a coming wave of inflation.

As of mid-2025, gold prices were hovering around all-time highs, having increased nearly 100% since mid-2020.

Further, one reason why gold investors believe the precious metal may have strong prospects is that the broader economy has been in an inflationary period. Most major economies experienced inflation following the pandemic, and gold prices increased accordingly.

The Takeaway

Investors interested in gold typically gravitate toward it as a hedge against inflation or as a means of diversifying their portfolios. Those who want access to this precious metal have some choices: They can buy bullion, coins, jewelry, mining stocks, ETFs, mutual funds, futures, and options.

Invest in what matters most to you with SoFi Active Invest. In a self-directed account provided by SoFi Securities, you can trade stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, options, and more — all while paying $0 commission on every trade. Other fees may apply. Whether you want to trade after-hours or manage your portfolio using real-time stock insights and analyst ratings, you can invest your way in SoFi's easy-to-use mobile app.

Opening and funding an Active Invest account gives you the opportunity to get up to $1,000 in the stock of your choice.¹

FAQ

Why do some investors like investing in gold?

Many investors turn to gold as a way to hedge against inflation, or as a “safe haven” during market volatility. It can also be a way to diversify a portfolio.

Is it possible to buy gold stocks?

You can’t buy “gold stocks” specifically, but it is possible to buy stocks of companies involved in or adjacent to gold mining and production, as well as funds.

What are common ways to invest in gold?

Some common ways to invest in gold include buying physical gold such as bullion, coins, or jewelry, buying shares of gold-related stocks or funds, or options and futures related to gold.

Image credit: iStock/LeonidKos

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Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.

¹Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease. See full terms and conditions.

SOIN-Q225-126

Jun

2025

How to Build an Outdoor Kitchen

By Kevin Brouillard | Budgeting & Goals, Home Ownership, personal_loan | Comments Off

Outdoor kitchen can be a fun and functional addition to your home, but they come with a significant amount of work needed and a hefty price tag, with an average of $16,840 in mid-2025.

Whether you’re looking to spruce up your barbecue area or design a fully equipped kitchen, there are plenty of options and logistics when it comes to building an outdoor kitchen. This guide will go through the steps required, along with some typical costs and considerations for making your home improvement dreams a reality.

Key Points

• An outdoor kitchen, which currently costs an average of $16,840, can add functionality and value to your home.

• Choose a location considering existing structures, slope, and distance from the house.

• Plan essential features like grills, sinks, and refrigerators, and ensure durable, weather-resistant materials for countertops and cabinets.

• Consider lighting options, including solar lights.

• Add a shelter like a gazebo or awning for protection and longevity.

Settling on a Location

Before diving into the details of outdoor kitchen designs, settling on a location can help focus your planning and creativity. For starters, you can take stock of existing structures in the yard that could be incorporated into the design, such as patios and decks.

When envisioning options, measure the square footage of potential kitchen areas. This can inform what types of equipment and accessories will fit in the space you have.

Having some essential design features in mind, such as a grill or wood-fired pizza oven, could help guide the siting process, too. If you have your eyes on heavier equipment, like furniture or a bar, you may need to reinforce a deck or patio to safely accommodate the extra weight. Consulting with a professional contractor is advisable to prevent sagging in the floorboards or more severe damage that could lead to a complete backyard remodel.

Slope and distance from the house could also impact the feasibility and cost. Building on an inclined surface might require a more robust foundation than a level area. Situating an outdoor kitchen a greater distance from the home may add the expense of connecting electricity or plumbing, not to mention the practicality of walking back and forth. Adding outlets can cost between $75 and $500 each, according to the home improvement site Angi.

If possible, use existing structures or buildings next to the house to reduce such costs, and integrate an outdoor kitchen with the rest of the living space.

If you need help paying for your backyard sanctuary, a personal loan may be one option to consider. Personal loans are repaid with monthly payments of principal plus interest.

Generally, there is considerable freedom regarding how the borrower spends the money, whether on an outdoor kitchen (a home improvement loan is a kind of personal loan tailored for this purpose) or paying off credit card debt.

Creating an Outdoor Kitchen Design

After hashing out where to build, it’s time to delve into the details of the outdoor kitchen design. While browsing through dream kitchens on HGTV can provide inspiration and creative ideas, being realistic with your budget and desired kitchen features can keep you on track.

To avoid the impulse of keeping up with the Joneses (or FOMO spending), it may be beneficial to make a ranked list of possible equipment and design components alongside a budget.

Keeping in mind your own cooking habits and diet can be a useful litmus test to determine what you may use frequently and what could likely accumulate dust. It’s also worth considering how many people you’d like to accommodate.

If you’re overwhelmed with ideas but don’t know where to begin, finding a focal point to design around is one option to consider. For instance, barbecue connoisseurs may want to orient the outdoor kitchen design around the grill, whereas skilled mixologists might prefer to showcase their craft behind a central bar area.

Here are some further ideas for accessories and appliances to outfit an outdoor kitchen.

Grill

A built-in grill can look sharp and tailored within an outdoor kitchen design, but it can’t be wheeled away for additional entertainment space when you’re not cooking. Opting for a freestanding grill could help stretch your budget further and add some flexibility to an outdoor kitchen design.

Kitchen Island

Adding a kitchen island for a mixed-use of counter space and seating can further integrate the cooking and dining space to bring everyone together at a dinner party or family gathering. Opting for the roll-away variety can help you customize an outdoor kitchen depending on the occasion.

Sink

Including a sink in an outdoor kitchen is useful for cooking, easy clean up, and sanitation. The practicality of installing a sink and plumbing also depends on how far the outdoor kitchen is from the house. Carrying dirty dishes and pans a short distance for washing inside may not be worth the added cost of plumbing for some people.

Refrigerator

Whether storing food or drinks, a fridge can keep an outdoor kitchen stocked and ready and cut down on trips between the house. This requires running electricity for ongoing operation. For a full-size fridge, you can expect the cost to average between $400 and $4,000.

Countertops

As the cook in any family can attest, counter space is a big help when it comes to staging and preparing food. On top of stains and wear and tear over time, outdoor kitchen countertops may need to be weather resistant, too.

Marble is a popular interior countertop surface, but its cost and vulnerability to staining and wear mean it’s not the most durable. Some more hardy choices include slate and granite. Tile is a cheaper sturdy alternative, but typically requires more maintenance to clean the grout and replace cracked pieces.

For a functional amount of space, consider having at least 12-18 inches on each side of a sink, as well as 18-24 inches on either side of a grill.

Cabinets

To house all your outdoor kitchen utensils, pots, and pans in one place, cabinets are a good bet. Similar to the countertops, durability is a key factor to consider alongside cost. Using a marine-grade paint or stain on wood cabinets can improve their weather resistance and tie in the outdoor kitchen design with the house.

Lighting

Unless the outdoor kitchen will be built on an existing porch or patio, adding lighting may be a necessary investment to make a backyard dinner party possible. As mentioned, extending electrical wiring and adding outlets comes with costs. Given that as much as 15% of home energy expenditures go towards lighting, going with solar lights could save on the electric bill and wiring.

Landscaping

After construction is completed, landscaping can further beautify the outdoor kitchen space and provide privacy and shade in the way of bushes or trees. Landscaping costs can be several hundred dollars for smaller jobs, though this is an easier opportunity than say plumbing or electric to recoup some money as a DIY project.

Choosing a Shelter

Even in the fairest of climates, having some protection from the sun and assurance you won’t be caught in the rain can be an asset to an outdoor kitchen design. In addition to making a more comfortable space, a shelter could also increase the lifespan of your outdoor kitchen equipment and furniture.

Check out some possible options that can protect and enhance an outdoor kitchen design.

Awning

Awnings are an option for shading an outdoor kitchen area. Based on size and materials used, a built-in awning costs between $1,409 and $4,350 on average.

Canvas awnings are not the most durable choice for areas that can have harsh weather conditions, but they can be removed and stored during winter and inclement weather to extend their lifespan. Metal awnings are another option, and are generally cheaper and sturdier. Upgrading to a mechanically retractable awning will likely increase cost, but can be handy in locations where weather changes quickly and frequently.

Gazebo

A framed gazebo can protect furniture and kitchen equipment while creating a comfortable space for cooking and dining. Whereas awnings are often attached to a structure or need to be taken down seasonally, gazebos can offer longevity and more options for placement.

Pergola

Composed of vertical posts and overhead cross-beams with open lattice, pergolas can add some architectural appeal to an outdoor kitchen area. The structure is well-suited for growing vines to increase shade while allowing for ample breeze. Currently, costs are estimated at $2,100 to $6,100, depending on size, design, complexity, and where you live.

Recommended: How to Apply for a Personal Loan

The Takeaway

After figuring out the location, dimensions, and trimmings for your outdoor kitchen design, you can begin itemizing building or remodeling costs within a budget. The average cost in mid-2025 is $16,840. If you come to realize you’re biting off more than you can chew, you could do the project in pieces. There are also options to finance an outdoor kitchen project, such as personal loans.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named a NerdWallet 2026 winner for Best Personal Loan for Large Loan Amounts.

FAQ

How much does it cost to build an outdoor kitchen?

As of mid-2025, the average cost of an outdoor kitchen is $16,840, according to Angi, the home improvement site.

Can I build an outdoor kitchen myself?

Yes, it’s possible to DIY an outdoor kitchen if you are skilled at home improvement projects. Outdoor kitchens can be simple or very complicated, involving electrical wiring, sloping site accommodations, and gazebo construction. Make your decision accordingly.

Does an outdoor kitchen add value to your home?

Yes, an outdoor kitchen typically adds value to your home, estimated at anywhere from 50% to 200% of what your costs were.

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SOPL-Q225-071

Jun

2025

50 Fall Housing Projects to Tackle This Year

25 Fall Home Projects to Tackle This Year

By Constance Brinkley-Badgett | Financial Independence, Home Ownership, personal_loan | Comments Off

Fall is a great season to tackle some home projects to prep your place for winter and make your home comfier. Home improvement projects can also help maintain or even build your property’s value.

Here, a checklist of 25 fall home maintenance and home improvement projects that will help keep your house snug and in top condition during the cold season.

Key Points

• Fall home projects can help your home withstand the stresses of winter and make it more comfortable and harder-working.

• Schedule an annual furnace check to ensure efficient heating and safety.

• Clean HVAC ducts every 3-5 years to improve air quality and system performance.

• Clear gutters of leaves to prevent water buildup and potential leaks.

• Seal or replace damaged pipes and exposed, rotting wood to maintain structural integrity and aesthetics.

1. Door & Window Seals

It’s easy for cold air to slip in around doors and windows that don’t have sufficient weatherstripping. To keep your ongoing heating costs in check, it’s smart to take a look at all of your doors and windows to ensure the seals are tight. Fixing any issues could wind up saving you some serious money over time.

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2. Furnace Inspection

There’s not a lot worse than finding out on the coldest day of the year that your HVAC system needs repairs. Instead of waiting for a problem, it’s almost always a good idea to have your furnace inspected annually.

3. Air Ducts

This isn’t something you likely need to do every year, but it is smart to have your HVAC ducts cleaned regularly so the system is operating as efficiently as possible. Once every three to five years is a good cadence.

4. Gutters

Whether you do it yourself or hire a pro, having your gutters cleaned after the leaves have fallen can ensure that your roofline remains leak-free during the winter months.

5. Exposed or Rotting Wood

Whether it’s on your deck, around your foundation, or under your gutters, wood that is no longer properly sealed can take a beating during winter months. You can save yourself serious headaches by repairing, replacing, or sealing any exposed wood.

6. Roof inspection & Repair

A leaking roof is no one’s idea of a good time and is among the most common home repairs. Having an older roof inspected can help to spot minor problems before they turn into major issues.

In colder climates, some roof repairs may need to wait months for warmer weather before they can take place. For that reason, the sooner you tackle this issue, the better. You might be able to squeeze in a repair before the weather gets too chilly. (Note: It’s worth checking if you have a roof warranty before shelling out for repairs.)

7. New Insulation

If you’re like a lot of people, you don’t check the insulation of your attic and eaves regularly, if ever. Having the proper depth of insulation can provide most homeowners with significant savings when it comes to heating and cooling costs.

8. Lawn Winterization

When winterizing your house, don’t forget about your lawn: It will be greener earlier in the spring if you fertilize it in the fall.

9. All Those Leaves

While you don’t want leaves in your gutters or on your lawn, having them in your garden and flower beds can actually help protect plants against damage from cold weather by insulating them. A leaf bed also provides a home for insects that help feed migratory birds in spring; it can also spare landfills from tons of waste.

10. Critter Blockers

All those pipes and tubes coming into our homes from the exterior can mean there are little cracks and crevices. These in turn can allow insects and even vermin to enter in search of warmth. It can be smart to inspect and seal these crevices before the weather turns significantly colder.

💡 Quick Tip: Unsecured home improvement loans don’t use your house as collateral — a relief for many homeowners.

11. Storing Summer Clothes & Bedding

If you live in a cooler climate and you have the space, you may want to get organized and put summer clothes and bedding in storage over the winter. Enjoy the extra closet space!

12. Chimney Inspection/Cleaning

There’s nothing like sitting in front of a roaring fire on a cold winter day — unless, of course, dangerous creosote is building up in your chimney. You can likely nip any problems in the bud by having your fireplace inspected and cleaned annually.

13. Spring Bulb Planting

If you love tulips, daffodils, and other flowers that grow from bulbs, now’s the perfect time to set them in your garden. They often love a good freeze over the winter.

14. Perennial Care

Not only will adding mulch keep your beds looking neat and tidy during colder months, it can help insulate plants from the cold.

15. Outdoor Faucets

Now’s a great time to check your faucets to see if washers and all other parts are in good working order. And if you live in colder climates, it could be a good idea to install a frost-free yard hydrant to help protect your pipes against breakage during freezing weather.

16. Ceiling Fans

This is an easy one to forget. If you have ceiling fans, it’s smart to switch their direction for colder months. By reversing the direction of your fans, you can help to disperse warm air throughout your rooms.

17. Yard Tools

To keep your lawnmower, leaf blower, and any other gas-powered tools in good working order, clean them up before storing them for the season.

18. Trees & Shrubs

Pruning can be especially important for flowering trees and shrubs that only flower on new growth. It can also help to ensure that unhealthy branches are removed before heavy snow and ice coat them and possibly break them.

19. Carpet & Rug Cleaning

You’re likely going to be spending a lot more time indoors during the winter months, so why not freshen up your surroundings with a good carpet and rug cleaning? It could provide some welcome allergy relief.

20. Smoke & Carbon Monoxide Detectors

It can be smart to check your detectors and replace batteries whenever there’s a time change. So when you “fall back” and reset the clocks, make sure these important devices are in good working order.

21. Patio Furniture & Grilling Equipment

Covering your outdoor furniture and grill can lengthen their lives and help prevent chipping and other damage.

22. Snow Removal

If you live where it snows regularly, it’s smart to go ahead and prepare now. Having your snowblower serviced, buying salt or snowmelt products, ensuring that your snow shovels are in good shape, and/or lining up a snow removal service are all things you can do now to avoid problems when the snow has begun to fall.

23. Older Doors & Windows

If you’re still living with single-pane windows, it may be time to upgrade and undertake the effort and cost of replacing windows. Here’s why: Double- or even triple-pane windows can pay for themselves in just a few years. They can be far superior in keeping out both the cold and heat (depending on the season), thus reducing your heating and cooling bills. The same is true for older doors that may not be well insulated or have single-pane glass in them.

24. Programmable Thermostat

It may seem like a little thing, but turning your heat down every night can wind up saving you money. Remembering to do it, however …that’s another story. Why not make it easy on yourself and install a programmable or smart thermostat that remembers for you?

25. A Fresh Coat of Paint

If you’re going to be spending more time indoors, why not update its look to something you love? A fresh coat of paint can do wonders to spruce up almost any room. And how about the exterior? You might also look into the cost of painting a house; this is a project that can take homeowners a weekend to complete or can be bid out.

This is a home improvement that can increase your home’s value, but it can get pricey. If you don’t have the money saved, you might look into a home improvement loan (a kind of personal loan) vs, putting it on your credit card. You could enjoy a more favorable interest rate.

The Takeaway

As the leaves change, it might be time for homeowners to consider some important home improvement projects before the cold weather really kicks in. A seasonal to-do list can ensure that your home is comfy, cozy, and safe for winter and beyond. For some of the bigger projects, like replacing windows or completing roof repairs, you may want to get your financing squared away too, perhaps with a personal loan.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named a NerdWallet 2026 winner for Best Personal Loan for Large Loan Amounts.

FAQ

What is the most in demand home improvement?

Bathroom remodels are among the most sought-after home improvements. Next in terms of popularity: kitchen renovations.

Why is fall home maintenance important?

Fall home maintenance is important because it can help your house cruise through winter without any problems. For example, you may be able to avoid the furnace conking out or a pipe freezing and bursting if you prepare properly.

Which home renovation projects add the most value?

Replacing the garage doors and front doors were found to be the projects that return the most value on investment as of 2025.

Photo credit: iStock/JavenLin

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Jun

2025

How Much Does It Cost to Install Central Air?

By Kristin Luna | Home Ownership, personal_loan | Comments Off

The average cost across the United States to install central air conditioning was $5,958 as of mid-2025. That price can, however, fluctuate based on such factors as where you live, the size of your home, and what kind of unit you choose.

Here, learn more about air conditioning costs, your options, and how to get the best possible price if you do choose to install central cooling.

Key Points

• Average cost for central air conditioning installation in mid-2025 is $5,958.

• Factors affecting cost include brand, home size, duct condition, and location.

• Financing options include savings, tax credits, and home improvement loans.

• Pre-installation evaluation assesses system needs, duct access, and budget.

• A qualified contractor ensures proper, safe, and compliant installation.

What Factors Play a Role in Installing Central Air?

Many factors go into the cost to install central air conditioning, including the brand of AC you choose, the unit itself, and the overall size of your home. A central air conditioning unit alone can cost thousands of dollars. For instance, a split unit air conditioning unit will typically run between $2,000 and $3,000 on average; a packaged central air conditioning unit will be somewhat more, typically between $2,500 to $4,500. (More in a minute on the difference between these types of systems.)

If you add in the labor of an air conditioner contractor, the cost to install central air ranges from $3,500 and $7,000 on average. But that number can range depending on where you live, the type of AC system your home needs, and the condition of your existing air ducts.

According to HomeAdvisor, these are the average air conditioning unit costs with installation:

Size	Average Cost
3-ton	$2,000-$5,500
4-ton	$2,600-$6,200
5-ton	$2,800–$6,800

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Pre-Installation Evaluation

Some helpful things to think about when evaluating your home for a new air conditioning system include a careful analysis of how big of a system your living quarters need. The price jumps quickly for larger units, so it’s often smart to make sure you’re not overdoing the cooling capacity for your project.

Ease of access for installing the bulky ducting system of a traditional air conditioning setup is important, so if you have a tight basement or attic crawl space, expect to pay more in labor costs than if you had more room to mount all the equipment and pipes easily.

Also, think about where you’d want to locate the duct feeding into the room. You might have to cut through hardwood or tile, for example, to gain an access point for the air to flow. Or there could be a spot in your house that needs a little more airflow and will therefore require multiple ducts into the room.

Though an AC installation typically just takes one day, if extensive cutting into floors or walls or ductwork is required, it could take several. If this might disrupt your quality of living, you’ll likely want to consider staying with family or friends as your central air is installed — or move into a hotel, the cost of which should factor into how you make a budget for your overall air conditioning costs.

Recommended: Personal Loan vs. Credit Card

Types of AC Units

Affordability and preference help determine the type of air conditioning unit that you’ll need, which affects the overall central air cost. A traditional split system — with air conditioning on one side of the unit, heating on the other — is on the lower end of the pricing range vs. packaged units. In addition, more complex models that include heat-pump, hybrid, and geothermal functionality can run substantially higher.

Ductless air conditioning systems have been around for years and are rapidly entering the U.S. market from overseas. They can offer affordable efficiency as they cool living spaces. Ductless units have a central compressor and fan with standalone wall-mounted units that eliminate the need for ducting. Instead, a wall-mounted fan serves each room independently. Coolant and drainage lines are routed through the wall back to the centralized air conditioning assembly, making for a clean finish.

Ductwork

When planning central air installation, you should consider what kind of ductwork is best for your home. Ductwork falls into two categories — flexible or rigid — with many different options for materials within each. Flexible and rigid ductwork each has its own pros and cons regarding price, lifespan, efficiency, and flexibility.

The cost of ductwork can vary greatly. The national average cost for ductwork is $1,252, but can range from $453 to $2,188 or significantly higher depending on the job specifics.

The cost to replace old ductwork is higher since it involves both removing the existing materials and installing new ductwork.

Recommended: How Much Is My Home Worth?

AC Installation and Labor

While handy types may be tempted to tackle the central air installation on their own, it might be wise to find a contractor who is well-qualified to ensure that the job is done properly.

City codes departments typically require permits for work like central air installation that can be obtained easily by a state-licensed contractor. Handling refrigerant chemicals like Freon™ also requires a license, according to the EPA.

Many websites offer contractor and price-compare quotes in your area. Angi and Thumbtack both can be good places to start your research. A referral from someone you know also can be a great way to find a vetted air conditioning contractor.

You might also search online communities and neighborhood forums to find a reliable air conditioning contractor. There’s a good chance that someone locally has had similar issues and might be able to recommend a professional contractor to handle your air conditioning installation job.

You’ll also need to consider how to finance this work. Perhaps you have savings to draw upon and tax credits can help. You might also consider a home improvement loan, which is a kind of personal loan in which you receive a lump sum of cash and then pay it back over time with interest.

These loans offer the advantage of typically having a significantly lower interest rate than charging the costs to your credit card. Applying for a personal loan of this kind is usually quick and easy, too.

The Takeaway

The cost to install central air conditioning is, on average, almost $6,000. While that’s a considerable expense, it can include the labor involved in addition to the price of the unit by itself. And it can give you peace of mind knowing you have a new central air system to keep you cool and likely improve the resale value of your home if you plan to list your house or refinance in the future. For this reason, it may be wise to look into your financing options, such as taking out a personal loan.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named a NerdWallet 2026 winner for Best Personal Loan for Large Loan Amounts.

FAQ

What is the $5,000 rule for air conditioning?

The $5,000 rule is a way to determine whether it’s worthwhile to replace your a/c system. Multiply the age of your system in years by the cost to repair it. If the result is over $5,000, you should replace it. If it’s under $5,000, then repair it.

What is the average cost to install new a/c?

As of 2025, the average cost to install air conditioning is $5,958, according to the home improvement site Angi.

Does new a/c qualify for a tax credit?

It may indeed. A tax credit is typically effective for qualifying products purchased and installed between January 1, 2023, and December 31, 2032 under the Energy Star guidelines. Claim the credits, up to 30% of costs to a maximum of $600, using the IRS Form 5695.

Photo credit: iStock/Pramote2015

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