With lots of youtube videos and tutorials about everything, home improvement projects look easy as boiling an egg. But, even if you are good with your hands, are DIY projects really something you should embark on?
According to Wells Fargo “most homeowners need to spend 1% to 2% of the purchase price of their home every year for routine maintenance projects” and some of this money can be saved with a DIY repair as most of their total cost is labor hours. The National Association of Realtors put together in their site House Logic a list of common repairs with their cost. Most of them are fast and easy, and you will surely face many times a year in your house, so it seems a good idea you start doing them yourself and save this money for more costly projects.
But, not every home improvement is that easy and even a decoration project can turn into a nightmare when you try to tackle it yourself.
DIY: Yay or nay?
Maybe you are the type of person that usually does small repairs at home or the office and want to try some bigger project, so make sure you have clear instructions and tutorials and all the tools required. Check also with your hardware store if they have all the materials in stock. If everything checks, calculate the time you need from start to finish and evaluate if you want to spend it working in your house or if you prefer hire a contractor. Remember that doing house maintenance is not your primary job and you might be exhausted to face it from the start.
On the other hand, if you are not the handy type think that home improvements can save you money or make you lose a lot. Buying tools, failing in material calculation, damaging expensive equipment or hurt yourself can skyrocket your budget. Be sensitive, even for an experienced DIY person a simple project can go sideways.
And then, there is the size of the remodel/upgrade you want to do. Various projects require permits and a licensed contractor, like major plumbing, electrical and gas installation and most of the remodels and additions that require building. And, if the project is big enough, you might need financing that you can find through a company or registered contractor.
Doing yourself your home improvements is a way to save money, but is not the answer to all the prayers for everyone and every project. Before giving up to your enthusiasm, review carefully our DIY: Yay or Nay list and think that hiring a contractor might be the best way to save money.
Posted February 10, 2016
by Gabriel Posternak.