How to Save Money on Home Improvements
During the Great Recession, most homeowners tightened their belts and performed the bare minimum tasks necessary for home maintenance. Elective remodeling and home improvement projects were placed on the back burner. Homeowners were primarily concerned with paying their mortgages and simply staying in their homes.
Now that the economy is more stable and foreclosure rates are declining, interest in home improvements is once again on the rise. In fact, US homeowners are projected to spend approximately $300 billion on home improvement and remodeling projects this year.
Don’t Buy Tools – The right tools will make it easier to get professional results, but they can be expensive. Rather than investing in tools or equipment you’ll only use once or twice, borrow or rent them instead. First check with family, friends and coworkers to see if anyone has what you need (you never know what’s sitting unused in people’s garages and sheds). If no one has what you’re looking for, check a peer-to-peer rental site like Zilok.com, which allows you to rent equipment from both fellow DIYers and professional contractors alike.
Keep it Neutral – When painting your home’s interior, plan to use one neutral trim color, rather than a different color in every room. Not only will you save on the initial paint costs, it will make touching up nicks and smudges much easier, too.
Comparison Shop Online – Price matching has become a successful marketing tactic for grocery stores and now other retailers are getting in on the game. Even if they don’t advertise it outright, many will price match the lowest online price you can find in an attempt to win your business. So get to Googling and find the best online deals on the materials you need for your project, then find a local retailer who’s willing to price match. You’ll also enjoy added savings by not paying for shipping or return postage.
Use the Retailer’s Design Service – Instead of paying hundreds of dollars for a consultation with a designer, use the retailer’s complimentary design services instead. It won’t cost you a thing! Most larger home improvement retailers have designers who can assist you with lighting, kitchen and bath projects and interior design.