Valve has updated its Steam refund policy, simplifying and broadening the conditions under which you can return games and DLC after making a purchase. Now you can ask for refunds within two weeks of purchase, provided you haven't played the content for more than two hours.
"You can request a refund for nearly any purchase on Steam - for any reason. Maybe your PC doesn't meet the hardware requirements; maybe you bought a game by mistake; maybe you played the title for an hour and just don't like it" the updated policy states. "It doesn't matter."
The update doesn't apply just to games, but also DLC, in-game purchases, pre-purchases, bundles, and even funds added to your Steam wallet. The only restriction is that you can't have played the game for more than two hours. In the case of a DLC, you can't have played the base-game for more than two hours since buying the DLC. You also cannot consume or transfer any other content that is subjected to the new policy.
In short, you can return anything withing 14 days of purchase for a full refund.
Of course, there are some restrictions put in place, movies cannot be refunded, nor can redeemed gifts. The restrictions also applies to some third-party DLCs (the ones that irremediabely change your character - level boosters for example), and third-party developers will be able to enable refunds if they want to. Whatever the company choose, you will be able to tell if a piece of content is or isn't refundable before buying it.
Valve has taken into account even the possiblity of abuse, as the announcement goes on to entail. "Refunds are designed to remove the risk from purchasing titles on Steam—not as a way to get free games. If it appears to us that you are abusing refunds, we may stop offering them to you. We do not consider it abuse to request a refund on a title that was purchased just before a sale and then immediately rebuying that title for the sale price." the announcement reads.
Valve had been known for its notorious refund policy, lagging behind even the likes of Origin, and pushing back against laws requiring to offer refunds, asking for users to waive their rights upon purchase. All in all, this major step seems to be in the right direction, and the policy update is pretty much what any reasonable individual would have been asking for.