As every homeowner knows, repairs come up more often than we would like. Unfortunately, home repairs can turn into a very costly affair that can severely affect your bank balance. To prevent you from “breaking the bank” we give five tips to save money when doing home repairs.
Home repairs come up often and can be costly.
1. Create and Stick to a Realistic Budget
Creating a realistic budget with the costs of all alterations you want to make is the first step to saving money during a home repair. Be honest with yourself about what you want and how much it will cost, as this will help you stick to your budget. Research what the costs for each alterations or repair will be so that you won’t easily exceed your budget.
Instead of buying expensive tools that you will likely use rarely, you can save money by borrowing or renting them. It is likely you have neighbours who may have the tools you need. You can find out by posting on your neighbourhood’s Facebook group or by personally asking your neighbours. You may also be able to rent equipment from major home improvement stores as many of them offer this service. That way you end up spending a fraction of what you would have if you had bought the equipment.
Properly research all the materials you need beforehand.
3. Look for Sales Before Buying Material
Another way to maximise on savings during home repairs is to properly research all the materials you need beforehand and find out where they are sold. With this knowledge you can then compare prices from different retailers and go for the cheapest while still maintaining the quality you require. If you are buying in bulk, finding the cheapest price can save you quite a bit of money but even in small quantities, there is still money saved.
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4. D.I.Y. as Much as Possible
You can save a substantial amount of money by doing the things yourself. Handling the tasks you are able to do yourself on your own such as painting, sanding or even clean-up means that you do not have to pay someone else to do this for you. This can save a good chunk of money, as hiring manpower makes up a big part of home repair costs.
5. Schedule Repairs for Off-Season Times
Don’t schedule your home repairs during high season times if possible, as you will pay more for the contractors. During high season, contractors are busier and, thus, will charge you more. December and early January are typically the slowest periods for contractors, so you may get a better deal then.
This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.