How to Save Money on Your Home Improvement Project
Home improvement projects can put a strain on your family budget, but sometimes, they’re a necessity. These five tips can help save you money on your next big project.
1. Get at Least Three Bids
As a general rule of thumb, you want to get at least three bids before choosing a contractor. If you only have one bid, you will have no basis to compare the cost of the job.
Talking to different contractors will also help you learn about what it takes to get the job done, which will give you more perspective on the costs in the estimate.
Don’t try to negotiate this early in the process; just let contractors give you their bids. The goal is to get baseline prices for the job.
Having at least three bids will help with the negotiations process later on. Telling the contractor that you have other estimates lets him know that you’re not in a hurry and are shopping around for the best possible price.
2. Go for Experience
Steer clear of new companies and amateurs. They may give you the lowest prices, but their lack of experience will cost you more in the long run. They may skip important steps or miss the fine details an experienced craftsman would provide.
An experienced professional may cost more upfront, but you will save money in the long-run. Quality work will stand the test of time. Cutting corners will have you right back at square one in just a few years (maybe less).
3. Use Specialized Services
Forget hiring a general contractor. Most of the time, general contractors hire subcontractors to get the job done. Skip the middleman and go directly to the tradespeople you need.
If you need someone to do tile work in your bathroom, call a contractor who specializes in tiling. If you need drain cleaning and plumbing work done, go directly to a plumber.
Avoid hiring an “expert” or an installer from a big box store like Lowe’s or Home Depot. While this may seem like a convenient option, you have no way of knowing the technician’s skill or experience level.
4. Get the Materials Yourself
One simple way to save money on your project is to buy the materials yourself. Contractors often get discounts from suppliers, but they may not necessarily pass the savings on to their customers.
Allowing the contractor to purchase your supplies also means that you have no control over the cost of the material. You may be able to find a better deal on the material from a different supplier than your contractor is using.
5. Stand Your Ground When Negotiating Prices
Don’t allow contractors to rush you into making a decision. Stand your ground when negotiating prices, and let the contractor know that you’re not desperate to get the project done.
If you’re looking to get your roof replaced, don’t wait until it starts leaking to get the work done. If you do, you will be desperate to get the job done and may wind up settling. Contractors will also take advantage, as they know you’re in a jam.
Thank you so much for sharing this. I’m planning to do some home improvement to my new apartment. I just moved in two months ago, I’ve been busy lately. So now, will surely make a schedule to fix my home. Anyways, great tips!
For me, research is the most important step before starting any renovation project. Research prizes, contractors, materials and you can also check online the step-by-step process for almost everything, so you can decide if you can do it on your own.
Thanks for sharing this amazing tips.
Remodeling the bathroom will add a great value to your home before reselling.
These tips are helpful for all house owners to spend a low amount of money. 🙂 Thank you so much for sharing.
Getting the materials yourself will surely help. This does not take much time that everyone assumes it to be. This can definitely decrease your spend to a large extent.
We have a lot of home improvements that we need to do before we list our home. Not looking forward to the costs at all!