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Seven ways to save on home improvements

Home improvement projects can be expensive, but there are ways to save money on tidying up your space. Here are a few tips on how to save money on home improvements, whether you pay in cash or use home improvement loans.

1: Get at least three quotes from qualified contractors

Home improvement projects can be expensive, so it’s important to get at least three quotes from reputable contractors. By comparing prices and services, you will be able to find a contractor that fits your budget and needs. Your quotes should also be specified to have a detailed worklist of what your contractors plan to do. That way, you can cut costs if you run over budget and want a history of the work done if your original contractor haunts you or does a sloppy job.

2: Use home improvement loans wisely

Consider using a home improvement loan if you want to spend money on a home improvement project but do not have the money at hand. Loans can help cover the cost of extensive repairs or renovations, so be sure to compare interest rates and terms before deciding which loan is right for you.

3: Save on materials by shopping around

One of the most common ways to save money on home improvements is by shopping around for materials. Not only can you get quotes on supplies, but you can also find high quality products that meet your needs, at a lower price. Compare prices and brands to find the best deals on the products you need.

You can also find better deals if you check out outlet stores or manufacturers’ websites, as they sometimes offer “open box” or leftovers from previous projects at a significant discount.

4: Ask family and friends for help

Many homeowners often forget that they can ask their friends and family for help with home improvement projects. Someone who is handy with a wrench might be able to lend a hand with a minor repair, while someone with extra paint can offer their expertise in choosing the right shade for your walls.

5: Plan and start the preparation work early

If you have planned your home improvement project in advance, you will be able to save time during the renovation process by doing things like preparing the woodwork or installing trim before you start drilling holes or painting walls. Plus, performing these minor tasks in advance will save you high labor costs should you need a professional.

6: Try to make housing improvements “out of season.”

Entrepreneurs are often in high demand during the spring and summer months and will usually charge a premium to ensure they are not overwhelmed. The same goes for material costs; when demand is high and supply is low, prices will rise. If you can wait until the fall or winter to complete your home improvement projects, you can save more than you think, simply because of supply and demand.

7: Use public resources

Many municipalities offer discounts or tax breaks to homeowners who invest in home improvements that improve their energy efficiency or add new features to their homes. Contact your local government office to learn more about these programs and how to apply.

The bottom line

By following these seven tips, you can save money on your home improvement project and make your home more comfortable.

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