How To Save Money On Home Repairs
HOW TO SAVE ON HOME REPAIRS
Home repairs can be extremely costly and can come at you when you least expect it.
Knowing how you'll handle the situation is key to managing your budget and saving money in the long run.
Have a plan in place for what you'll do if you need home repairs in the future.
More importantly, if you need home repairs now and can't see how you're going to be able to pay for them, let's have a look at some of the options.
TIPS ON HOW TO SAVE MONEY ON HOME REPAIRS
This is one situation where having an emergency fund is really, really
helpful! It saves you from having to
finance something and paying more in interest than you should.
If you can budget for your emergency fund on a regular basis, you will avoid spending way too much on bigger repairs.
If you have smaller home repairs that need doing or you have multiple home repairs, prioritize. Decide which home repairs are the most crucial and attack them first.
Are there things that you can repair yourself? Even if you do the "grunt work" like ripping up old carpet because of a water leak, or tearing down a wall because of water damage, you'll save money.
You can negotiate the cost of your labor being deducted from the overall cost of replacement. There are also a lot of ways that you can save money by being a do-it-yourselfer even if your talents are not sufficient to complete the whole job.
You can also ask to be an apprentice/helper and save money that way if the person doing major home repairs is open to this frugal way of home repair.
You can learn all kinds of neat tricks and get a discount on your home repairs if an apprentice or helper is needed and if you can do the job!
Always think it through - can you do the repairs or do you need a professional? It is all about the level of repair and your skill set.
If you know how to make repairs that's one thing but can you honestly say for instance you can replace a roof?
Divide and conquer. Do the things that you can do without creating a bigger problem and hire out the things that are simply too big to tackle or could result in more problems or even dangerous situations.
If you're not an electrician, don't try and save money and do it yourself.
Find a good/reputable contractor if you need help with major repairs or remodels. Check out people with the Better Business Bureau but ask around. Get recommendations from people you trust and then interview the person yourself.
Don't pay everything up front if you hire a contractor. If there's a pay up front clause, you need to find another contractor. Do you know anyone who gets paid before the job is completed? I don't.
They can take the money and run or they can do half the project and leave you stranded, struggling to find another contractor to fix or finish what was started.
Bad business practice to pay for anything until it's completed. Deposit on the work to be accomplished, yes - payment in full - no way, Jose!
Take the time to check out other projects that your contractor has completed. It's like a resume. Go and look at the finished product before hiring them.
Don't hire the cheapest bidder either. You may be sorry in the long run. On simple or quick jobs that may be okay but for complicated jobs, check out his work!
MORE ADVICE ON SAVING MONEY ON HOME REPAIRS
Buy materials yourself. Some contractors don't like this. If you need a contractor, ask up front if you can buy materials yourself and negotiate accordingly. Why?
They will mark up the materials that they use or they will just buy as they are accustomed to buying. If you do your research and especially if you buy online and from different sources, you can save major bucks.
Don't forget remnants for carpeting or discontinued items for flooring, etc. Make sure you buy up to code materials but if your contractor gives you the green light, save ahoy!
Energy saving appliances or conversion of furnaces, air conditioners, roofing, etc. may cost more but don't be surprised. Ask about rebates from a contractor or go on line and research it yourself.
Most replacements or choices that are energy efficient are strangely higher in price than their less energy efficient counterparts. However, the thing here is that you usually can get manufacturer's rebates, tax credits, and the savings over time will more than pay for the choice you make.
Ask your contractor, ask whoever you buy products from and ask your accountant.
Save energy wherever you can and even if you pay more upfront costs, you'll save over time!
Instead of recycled materials, you can use repurposed materials. Look online for rebuilding centers. These are places that offer repurposed materials - from home furnishings to raw materials and you can save a bundle.
SAVING MONEY ON HOME REPAIRS
In short, you can save a bundle of bucks with these money-saving ideas for home repairs.
If you can't afford home repairs or budget for them, it's probably best to be a renter so as not to get caught in the upkeep game.
Owning a home of any age is all about keeping it up to date and doing periodic maintenance that will save you big bucks over time.
For do-it-yourself folks, visit Lowe's or Home Depot for loads of classes on how to do things.
You can also find numerous do-it-yourself videos on line and visit any of a number of DIY websites.
For the people that like reading a book, you can buy or check out books on how to do home repairs yourself and learn any number of ways to save money and make your house better and retain its value more.
Just remember to repair things within your skill set and leave the things you're not so sure about to the contractors - but you can still save money by employing the above techniques with them!
More Financial Hubs By This Author
- How To Know If A Reverse Mortgage Is Right For You
In the economical climate of today, more and more seniors are becoming enamored with the idea of reverse mortgages. However, as in many situations today with economics, it pays to learn more about...
- Student Loans Available For Seniors
I bet you thought this was about student loans for seniors in high school, huh? Does something sound funny about that phrase....student loans for seniors? Well, not really! In this day and...
- Financial Planning: Finance Tips And Tools For Senio...
Adjusting to being a senior financially can take you by surprise if you aren't prepared for living on a fixed income. All too often, seniors find themselves trying to figure out what went wrong or what...
- Best Loans Available For Senior Citizens
WHAT TYPES OF LOANS ARE AVAILABLE FOR SENIORS? As people move into the
- How To Save Money By Creating A Pet Budget
I wrote an article a few days ago on this subject although I have to admit, my comedic side got the better of me. I decided to add in a lot of imaginary conversations I was having with one of my own pets, my...
- How To Save Money On Your Pets: Create A Pet Budget
As you can probably tell, my
- How To Save Money By Having A Living Will
Outlining a living well is a simple task but one that many people, especially seniors, put off. Why? Because no one likes to think about dying. Do you think it's possible to save money by simply having a...
- How To Save Money On Funeral Costs: Beating The High...
This is a rather macabre subject, but lets face it.....having a funeral can be really, really expensive. When I think about my own funeral, I think I might literally turn over in my grave or something if...
- Saving Money: How To Save Money By Using The Library
HOW THE LIBRARY CAN SAVE YOU MONEY Personally, I could live in a library. Growing up, we had TV but it was only sporadically for one reason or another. Books became my best friend at a very...
- How To Save Money: Saving On Dental Work
SAVING MONEY ON DENTAL BILLS The high cost of everything these days can be a bit overwhelming. Because having insurance can drain your pocketbook, more and more people are opting to not have dental...
- Cutting Costs: How To Save Money On Home Decorating
HOW TO SAVE ON HOME DECORATING Whether you live in an apartment or you own a 3,000 square foot home, home decorating can really get expensive. If you have a huge budget for home decorating,...
- How To Save Money On Construction Materials
HOW TO SAVE MONEY ON CONSTRUCTION MATERIALS When you think of construction materials, we often think of building a new house. However, construction materials are necessary for any type of...
- Cutting Costs: How To Save Money On Car Repairs
TIPS AND TRICKS ON SAVING MONEY ON AUTO REPAIRS Shelling out hundreds of dollars for auto repairs can really blast holes in anyone's budget. Finding out that you got ripped off is even...
- How To Make The Most Money On The Sale Of Your House
HOW TO MAKE THE MOST MONEY WHEN YOU SELL YOUR HOUSE The smart person today thinks about the income that you can make off your house should you want to sell it. With an uncertain economy and...
- How To Stage Your Home On A Budget
In these difficult economic times, if you're selling your home, you need every economic break you can get. There are professional home stagers who will help make your home the most presentable it can...
- How To Save Money When Buying A New House
MONEY-SAVING TIPS ON HOW TO BUY A NEW HOUSE Buying a house is perhaps the greatest purchase most of us will ever make in our lifetime. For that reason alone, it's wise to know what you're getting into. ...
- How To Save Money Every Day: How To Drive Green
SAVING MONEY - HOW TO DRIVE GREEN Conserving our natural resources and going green has become a global effort. Today, more than ever, everyone's looking for more tips on how to go...