How to Save Big Bucks on Home Repair

How to Save Big Bucks on Home Repair

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One broken appliance can set your budget on edge. A pattern of plumbing, electrical or building problems may put you in the modern equivalent of a poor house. Fortunately, there are options for homeowners who are looking to save big bucks on home repair. The following are some points to consider before and during those repairs.

Purchase a service contract.

It may be worth your while to purchase a service contract, one that covers the cost of maintenance and lowers your repair bill. Your best bet here is to carefully choose which appliances to cover and then shop for the best repair plan.

For instance, some utility companies will provide repairs for appliances such as a gas range, a dishwasher and a refrigerator. They charge a flat monthly rate — your repairs are included. Consider the benefit of such a plan especially for an old, expensive unit such as HVAC.

Sock away the money.

Every homeowner should have an emergency fund. That fund comes in the form of a bank account and should have enough money to cover repairs. Essentially, if you contribute $10 per week you can handle the cost of most repairs within a year.

When the account is depleted, continue to fund it. Avoid tapping your account if it isn’t touched for several years. Do tap your funds when you plan to purchase a new appliance.

Hire the right contractor.

Avoid frustration when hiring a contractor. Only hire an individual that is qualified to do the work such as a licensed electrician, plumber, carpenter or home contractor.

You want an individual with a stellar reputation so ask for references and accept referrals from people that you know. Choose the wrong individual and you pay for that person’s mistakes while also paying for a qualified contractor to make amends.

Buy wholesale materials.

Your contractor should have access to a wholesaler to get you the best prices for whatever materials you need. Even so, you may be able find lower prices or you may already have the parts and materials you need.

If the goods are in excellent condition, your home repair specialist may be able to use them.

Home Repair Considerations

Another option is to simply do the job yourself. With the large number of videos posted online, you have someone talking you through the work.

You will still pay for the materials, but you will not pay for labor. Instead, your sweat equity will demonstrate that you can do both the work and save money.

See AlsoFlip This House Quickly and Profitably

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