This post is from Rob Jones, chief blogger and marketer at online flooring and other building materials company, BuildDirect. Rob writes about how to save money and stay within budget during a tough economy.
The simple fact is this. Sometimes, home improvements still need to be done, even in a struggling economy.
Sometimes this is because recessions tend to make selling properties harder, which creates a need to spruce up a property to make it more salable. Or, a home improvement project could be about necessary maintenance when you plan to stay in a property, which seems a more common trend these days. And the tendency for things to wear down over time doesn’t heed a recession.
So, what do you do when saving money on these kinds of projects isn’t just a nice-to-have? Well, here are 10 ways to make the most of your home improvement budget, whether you’re looking to do it yourself, to hire a professional, or some combination of the two.
1. Research, Knowledge, and Planning.
OK, I suppose these are really three items here. But, they’re related. And maybe this is an obvious one you’ve already taken into account. But, that’s how important this aspect of things is. Spending the time in getting a base of knowledge about building materials, budget concerns, and reputable contractors is your best bet to outlining where best to spend your money with the most return on your investment. Simply put, planning ahead and getting a bird’s eye view can help you avoid costly oversights at all stages of your project.
2. Hire A Reputable Contractor
When it comes to hiring credible contractors, it is smarter to pay more to get things right the first time, than it is to continually pay more later to address errors. And when interviewing prospects for home improvement contracts, don’t forget to ask your contractor the right questions. In the end, the right person for the job works out to be much cheaper.
3. Be a Savvy Negotiator
Part of keeping within budget is all in the negotiation skills. When you’ve engaged a contractor (see above), make sure that you have control of the pricing, especially when it comes to payment upon satisfactory completion of a job. Even when shopping for materials, your negotiation skills can make all of the difference to staying within your budget. But, more on that in a second.
4. Shop For Your Own Materials
Maintaining control over your own budget is important, once you’ve done your research. If you can cut down on the time a contractor will spend on research and shopping for you can also cut down on your bill when the job is done. And you can ensure that the materials used are top quality, and that no corners are cut to preserve your contractor’s fee.
5. Buy Online
OK, disclosure time. If you haven’t noticed, I work for a company that sells building materials online. So, this may look kind of self-serving. But, the simple fact is this; when companies don’t have the overhead costs of bricks-and-mortar locations, there are savings to be had. And (in our case) the demands of getting building materials in large quantities directly from the place they’re made and into your hands when you need them will cost you less without sacrificing on quality. When in the position where a large scale project is an absolute requirement, buying online with these conditions in place is your best option.
6. Get Those Manufacturer Rebates!
In this age of green building, and in heavy competition between manufacturers for your consumer dollar, it makes sense to see where you can leverage offered rebates and incentives related to energy savings after a purchase. This is the part where your research can allow you to see who has the most compelling rebate program. Make it one of the first things you ask , particularly when buying tools or appliances.
7. Concentrate On The Smaller Projects
As the Good Book, and 60s folk-rockers the Byrds (via Pete Seeger), tell us: for everything, there is a season (turn, turn, turn, if you will). Sometimes, those big jobs, as important as they are, can wait while a recession rages. In the meantime, there are often smaller, and therefore less costly, projects that can make a big difference to how comfortable your are in your home. Completed smaller projects can make an unexpected difference not only to the look of your space, but to how you experience it, too.
8. Use Re-Purposed Materials
You’d be surprised what people will give away for free or sell very cheaply, including materials that you can re-purpose for your home improvement projects. Check out Craigslist to see about things like mirrors, or used lumber, or extra tiles leftover from someone else’s project. Otherwise, if there’s a rebuilding center nearby, investigate it to find what you’re looking for. Not only is it a smarter use of your resources, it’s a smarter use of everyone’s resources.
9. Invest in Efficiency
Maybe it seems counter-intuitive, but when it comes to things like new, Energy Star appliances, an upfront costs can make all the difference to a long term expense. This is what I mean by investing in efficiency. Energy Star appliances, new windows, and even bigger ticket items like skylights which reduce your need for lighting during daylight hours, can take a chunk right out of your energy bills. And if you’re looking to re-sell at some point, it can add to the sale price too.
In the end, this is a great question to ask: can I do that job myself? As mentioned, sometimes hiring a professional is absolutely the more inexpensive thing to do in terms of avoiding costly errors, and saving on the time spent. But, depending on your skills and experience, sometimes taking care of that key project yourself is just the ticket. Seek out seminars on things like flooring installation, or tile setting. Lowes and Home Depot regularly host them for free. And then, go for it! The pride of accomplishment can be a significant benefit to go along with the money you can save.