*Save Money on a Home Improvement Project

July 22, 2011
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home improvement savingsMost homeowners have developed the habit of making home improvement a lower priority in their things to do because of the assumed high expense it would incur.  Unfortunately, deferring any needed home repair or improvements can eventually lead to more damage and consequently, lower home value.  On the other hand, diligently undertaking repairs and home improvement actually results in better value because it prevents major repairs and keeps the home in tiptop shape.  Just like our health, prevention is also better than cure when it comes to our home.

What homeowners fail to realize is home improvement need not be too heavy on the pocket.  Planning, research, and a bit of muscle and legwork can save you money in any home improvement project.  Here are some tips and guidelines you can follow for savings on home repair or improvement.

1)  Do not leave every task for the contractor.   Consider some minor tasks that you can actually do yourself.    Sanding, varnishing or painting are tasks you can do on your own after contractors have finished with the major repairs or project.

2)  Study cheaper, alternative materials .   Find out which materials can be less expensive for your project without severely compromising quality and durability.  Most home improvement projects will involve materials in different options.  Remember the most expensive isn’t always the best.  Learning more about your options may not only save you money but may also give you the best results in your project.

3)  Buy “sale” materials.  Home improvement and supply stores usually have items on sale.  This may be due to old stocks being replaced by new ones.

4)  Get price quotes from different contractors.  It is common to get a wide range of price quotes from various contractors.  Choose from at least 3 price quotations on the same scope of work.

5) Plan everything before hiring a contractor.  Before hiring a contractor, make sure you have already finalized the plans for the project.  It would also be a good idea to consult your plans with the contractor you have decided to hire before signing any contract.  Changes in the scope of work in the middle of the project will cost you more.

6)  Double-check the your contract before signing.  Ensure your contract covers all the work you intend for the contractor to work on and at the right price.

7)  Schedule the work during off-peak periods.  During off-peak periods, work is less demanding and contract prices are cheaper.  For example, schedule work on your air conditioning system on winter, not summer.

Follow these tips and it is almost certain that your home improvement project will cost considerably less than you originally estimated.

 

 

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