How to Save Money on Home Improvements

For most people, buying a home represents the biggest and most expensive thing they will ever purchase. As with any asset, when you make such a financial commitment to something, it makes sense to ensure it remains intact. When it comes to our homes that will usually mean ensuring we invest in home improvements from time to time. While we may invest in home improvements out of necessity, we may also do so because we want to increase the value of our home, perhaps with an eye on selling it later, or to enhance our lifestyles.

Home improvements can often prove costly. How can we save money on them?

Do What You Can Yourself

Many simple home improvement jobs, such as painting interior rooms, and even some bigger jobs such as refitting a bathroom or external maintenance, can be done by yourself. This means you will only pay for any materials you need, rather than for materials and the cost of paying someone to do the job. When safety issues may be involved, such as with electricals, you should always look to work with professionals, but think about the things that you can do yourself before calling in a contractor.
For some jobs, you may be able to start projects yourself and then only get a professional involved when the work becomes more difficult or beyond your own capabilities. However, ensure you pre-plan this and discuss with a contractor beforehand. Avoid only calling them up if you try to do something yourself and it all goes wrong.

Get Several Quotes

When you do decide you need a professional to do the job, be sure to get several quotes so you know you’re getting the best deal. It is also worth asking friends and family members for their own recommendations, so you know you are getting a trustworthy contractor coming to work in and on your home.

Buy Materials Yourself

Even if you find a recommended and trustworthy contractor, it may still be cheaper to buy the materials yourself, and you have the added bonus of having checked their quality so you’re happy with what is being used. Check with contractors before you hire them that they are happy for you to provide the materials yourself. Most will understand that you’re looking for the work to be as affordable as possible and not have a problem with this.
For an added benefit, if you’re planning a home improvement project far in advance, look to buy materials when trade stores have discounts or sales promotions taking place.

Hire Tools Rather Than Buying Them

If you are doing any work yourself, and only need certain tools to use once, perhaps even for only a couple of hours, it makes more sense to hire rather than to buy them. Workers who rent out tools will also be able to help you choose the one you need and give you safety tips and advice for efficient use, which you won’t always get from making a purchase, particularly if you don’t read the manual or speak to someone at the store you buy it from.
If you would like to buy something to possibly use again, then look at local sales and even online at sites like eBay to see where you can buy good as new tools at a reduced price. You will find many people who were once in your situation and are looking to sell having used their tools only once or twice, but happy to take whatever they can to sell them.

Keep and Store Old Materials

When you next repaint a room in your home, and have half a tin of paint left at the end, keep it. Whether you decide to paint another room the same colour, or simply have one eye on needing to refresh the room in a few years, being able to use the remainder of the paint will prove very useful and save you money.
Both small and large cuts of wood, particularly more expensive hardwoods, should be kept too, while it is always useful to have a box of screws, nails, and other small accessories that you may need to use at various times.

Buy Unclaimed Paint

Colloquially known as ‘oops’ paint, paint that has been mixed incorrectly, or that customers have ordered in a specific colour but never collected from the store, is often available at generous discounts. Another option is to find recycling outlets where people can take old or unused paint, and then find out whether they sell the paint or have passed it onto someone else to sell. Again, this will be available at a fraction of the store price, and maybe even free.

How to Save Money on Home Improvements

Follow these tips when planning your future home improvement projects and you may find yourself able to save money.


What you need to know

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This post contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information