Saving Money Tips - neat and practical ideas to make your money go further everytime you spend or invest.

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Saving Money Tips - neat and practical ideas to make your money go further everytime you spend or invest.

SAVING MONEY ON HOME IMPROVEMENTS

See also our page on Property

How to save money on repairing and improving your home? Well there are two key areas;

Day to day repairs and maintenance

The biggest and most obvious saving is to DIY (do it yourself) rather than bring in a contactor.

Change a light bulb we can manage, unless we are elderly or disabled then we may need help for that too.

get a neighbour or friend to help, in return for a "trade" of services or cooking or some form of "payment"
for the elderly or disabled local voluntary

If we lack the time (as many families do where everyone works) or are just plain ham fisted with simple jobs like hanging a picture then call in an "expert" but there are thrifty alternatives

groups jobs together and give someone a list, it saving bring in help for EACH job and saved overall especially as most contactors charge a call out fee.
try and recruit a local retired guy with good DIY skills who lots of people know, his prices are usually keen, he can be trusted and the quality of work is top notch.
place a simple ad in your local shop window for such an expert, but be cautious over his work until you have tested him out. Refer him to friends if he earns it. Be prepared to pay in cash, and do not always expect a receipt.
read local classified ads for all round experts who are obviously one person affairs, the bigger the firm the MORE they charge per job/hour.
for electrical and gas work use a licensed firm for safety sakes, again plenty of small one person operations which are cheaper than the big guns and provide a friendly personal service too.
repair or replace? if it's old and broken we have little choice but fix it can be just as good so think twice before you decide which route.

Improvements which add value and quality to your home.

These are much more costly affairs, a few basic ground rules apply to keep costs down, some may surprise you;

decide on needs and wants - if your house is cold then you need heating and insulation, if you want to lounge in a new conservatory that is a want and a costly one to.
prioritize, do the NEEDS first and decide even then which of those are most critical, and important, or can they wait a few months or even years.
will the work add value to the property?
Probably the most basic rule of all, in this regard, is the one that says you should never -unless you absolutely don't care at all about eventual resale value - improve a house to the point where its desired sales price would be more than 20 percent higher than the most expensive of the other houses in the immediate neighbourhood.

Try to raise the value of your house too high by performing major home improvements and surrounding properties will pull its value down.

Indeed, some "improvements or renovations" can actually reduce your home's value, and your chances of selling at a good price, say experts. So what are the sure-fire winners, which should pay for themselves and boost saleability when you come to move?

These key points should be consider before booking a builder:

Central heating can be expensive to install in your home but future potential purchasers may be put off if you don't have it, so you should recoup your money with this improvement.

Secondary glazing on the inside of existing windows may be preferable to double glazing for a period home with original features. Although you are likely to get back only a third of your money on double glazing, savings will be made on household heating and electricity bills.

Make sure any improvements are appropriate to the character of the property. Try to avoid replacing old features - such as stained glass, picture rails and original skirting boards with modern ones.

An extra bathroom should keep its value, as long as it is not built at the expense of a bedroom. If the property is fairly large and has upward of five bedrooms with one bathroom - converting a bedroom into a bathroom may have certain appeal and homeowners may possibly break even on their investment.

A new kitchen is a popular home improvement but homeowners are unlikely to get back more than their original investment.

Stripping wooden floors may look attractive, but ensure the boards are of good quality. This improvement / renovation won't add greatly to the value of the home.

Knocking through walls may provide additional space but will also provide fewer rooms - any reduction in rooms could devalue the property.

A swimming pool may be the height of luxury, but potential buyers may be concerned about security risks for small children and expensive running costs. A pool may recoup as little as 10 percent of the initial cost and so should not be considered to be a good house improvement.

Never rearrange the interior of your house in a way that reduces the total number of bedrooms to less than three.

Never add a third bathroom to a two-bath house unless you don't care about ever recouping your investment.

Garages are sought after features and will almost certainly recoup an investment.

Consider if your improvement/renovation requires planning permission or building regulation approval.

Think out and plan what you WANT before contacting contractors to give you prices and a time scale - contact 5-10 and expect only some will be prepared to come and see you, or fail to turn up for appointments.

Ideally type up your specification and use this as a basis for discussions and pricings, making changes based on practical issues arising from contactors visits and discussions. There may be factors you had not considered. This may ADD costs to the project or in some cases come up with CHEAPER options which you may prefer.

Get at least 3 quotes from reputable recommended contactors ideally those who are members of a trade association.

Ensure the TIME FRAME is agreed and kept to, otherwise build in penalties for lateness.

Get a firm fixed price QUOTATION rather than a rough ESTIMATE which could double in practice, home repair and improvement contractors have a poor reputation for keeping to budget.