Lowering Costs on Projects

Written by Lee Wyatt (last updated May 13, 2022)

One of the biggest problems with doing any kind of home improvement project is the amount of money that it usually takes to do the job right. For some reason, no matter how well someone does their planning, it can easily be expected to have the project go over budget by at least 10 percent, and often more. Due to this, finding ways of lowering costs on projects is something that should always be looked for. Following the suggestions outlined here should help you be able to keep those costs down as low as possible.

  • When possible, do your own work. Typically, labor intensive aspects of projects (such as demolition, painting, insulation, or even the general clean up) are the most expensive portions. One way to dramatically reduce the overall costs of your home improvement project is to handle any and all labor intensive aspect of the project yourself. However, if you do utilize this keep in mind that your project will only be able to proceed as quickly as you complete the task. Be aware that you will also be responsible for the results of the work that you accomplish.
  • Plan accordingly. Whenever possible, stick with preexisting fixtures and features. By replacing or remodeling such things as plumbing or gas lines you can significantly increase the cost of your project. While you don't always have to do this, be aware that most changes you make will entail a corresponding increase (often dramatic) in overall price. In addition, if you have a contractor doing the work for you, then ask for a similar rate brake that they get. For example, when a contractor purchases their materials from a home improvement store for a large project, they often get a 10 percent discount. If they are getting a discount for their purchases, it is only fair that you get a similar one.
  • Stick to your budget. Perhaps the single most difficult aspect of any home improvement project is actually sticking to the budget that you come up with. This however is the single most important part of lowering costs on your project. The best way to stick to your budget is to first decide on how much money you will spend, and then keep that as a hard target. If you increase your expenditures in one area (for example buying custom countertops) reduce the expenditures in another area (resurfacing your cabinets instead of getting new ones).
  • Buy direct from source. If you are doing your own work, try to purchase your materials directly from the source whenever possible. For example, purchase your cabinets directly from the manufacturer rather than simply getting them at a store. Another example of this is when you purchase your wood from a mill, be sure that you can meet the minimum order. If you necessary, plan on a couple of projects at once, or combine your purchase with those of a friend to ensure that you meet the requirements. Often purchases outside of these minimums are more expensive than they are worth.
  • Find your own specialists. If you have the patience, you can always try being your own general contractor. This means that you find, negotiate, and hire your own specialists for each individual job that comes along. Be careful when doing this though, since you have to be responsible for scheduling, supervising, negotiating fees and terms, and paying the subcontractors, in addition to often being responsible for the requisite permits.

Author Bio

Lee Wyatt

Contributor of numerous Tips.Net articles, Lee Wyatt is quickly becoming a regular "Jack of all trades." He is currently an independent contractor specializing in writing and editing. Contact him today for all of your writing and editing needs! Click here to contact. ...

MORE FROM LEE

Replacing a Battery

No matter how well you take care of your car, you will eventually need to replace the battery. Replacing a battery is an ...

Discover More

Restoring Antique Porcelain Plates

Antique porcelain plates are a beautiful investment that no one really wants to see go to waste. Over time, these plates ...

Discover More

Pasta Storage

Pasta is a staple item of many diets throughout the world. Not only that, it is an important ingredient for many of the ...

Discover More

MAX Power! A powerful lithium-ion drill/driver that delivers 0-to-650 RPM and 115 inches-per-pound of torque in a lightweight, easy-to-use package. An anti-slip soft grip and LED worklight makes this tool a delight to use. Check out Black & Decker 20-Volt Cordless Drill/Driver today!

More Home Improvement Tips

Building a Kids Bed

Have you ever noticed how a kids bed never really seems to be up to all the abuse those darn kids can put it through? ...

Discover More

Building Window Planters

Building window planters are a wonderful, and relatively inexpensive, way to add curb appeal to any home. Here is a step ...

Discover More

Covering Exposed Ductwork

One of the problems with having central air is that you have to ensure the duct work is covered. When this doesn't ...

Discover More
Comments

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] (all 7 characters, in the sequence shown) in your comment text. You’ll be prompted to upload your image when you submit the comment. Maximum image size is 6Mpixels. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is 2 + 5?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)