If you plan to live in your home for an extended period of time, you’ll eventually need to tackle home improvement projects – whether by choice or necessity. But it’s not cheap to renovate a bathroom or upgrade a kitchen, so it’s important to arm yourself with the right information. Home improvements take time, planning, and research – work out the details in advance so you can make smart decisions about cutting costs. Use these tips to get started.
1. Do it Yourself
Even if you don’t think you have the skills to complete a home improvement project, you might surprise yourself. YouTube and your local hardware store are incredible resources for tackling basic home improvements.
YouTube has videos for just about everything, and the professionals at your nearby Ace or Lowe’s can offer additional expertise. Start small by replacing something like a kitchen faucet, then work your way up to bigger projects. Before you know it you’ll have the confidence to lay down hardwood flooring like a champ.
2. Research Contractors
Contractors were hit hard by the recession, and many are still trying to rebuild their clientele. This makes it easier to negotiate price. Be fair, but work toward a discount. Just remember – don’t let price be the only factor you consider. A reputable contractor should be ready, willing, and able to provide references. Some contractors similar to the likes of companies that provide these local Atlanta Granite Countertops and many contractors similar may even have photo albums of previous projects. To find a contractor near you, check out the HomeAdvisor website, and always remember to seek out at least three estimates.
3. Buy Your Own Supplies
Most contractors purchase supplies at wholesale prices, but they frequently add a service fee onto the bill. Ask your contractor for a supplies estimate, broken down into specifics, then cross-reference their estimates against prices at your local hardware store. You might be able to pick up paint or lumber for a lower cost, just make sure you talk to your contractor before making the purchase.
4. Stay Focused
If you plan to remodel your bedroom, stick to that one project. It’s not uncommon to get the home improvement “itch,” tempting you to add additional projects to your plate. Get one project completed, then check your budget to see if you have room to expand.
5. Get a New Credit Card
If you sign up for a new credit card with a 0% introductory rate, you can use it to save money on your project. But here’s the catch: You must devise a plan to pay down the balance before the introductory period ends.
Look into store cards, such as Home Depot or Lowe’s, to enjoy a 0% APR for six months on purchases over $299. Or, opt for the Citi Diamond Preferred Card which currently offers a 0% introductory APR on purchases for the first eighteen months with no annual fee.
6. Choose Cost-Effective Upgrades
If you want to switch out your carpet for hard-surface flooring, consider choosing laminate instead of hardwood – it’s much less expensive and easier to install. If you want granite counter tops in the kitchen, look into paint options that offer the same look at a fraction of the cost.
7. Pitch In
Even if you don’t know a screwdriver from a nail gun, you can cut labor costs by pitching in. Offer to do the clean up or demolition for the project – most contractors are amenable to the idea as long as it’s clearly stated in the contract.
Never pursue a home improvement just for the sake of improving the home’s resale value – it may not work out in the end. Home improvement projects should provide value to you personally – they should be projects you’ll enjoy for years. While the ROI could factor into your decision, it should never be the main motivator for a project.
Have you done a home renovation project? How did you cut costs?
Daniel Stanton is a homeowner who writes about home improvement project ideas and tips for saving money on everyday expenses.