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Spend Less On Home Repairs

April 13, 2016 As long-time home owners will tell you, costly household repairs make you miss the good ol’ days of calling your landlord to come and fix things “quickly, if you can.” But since routine maintenance comes with the territory when you own your own home, we’ve listed a few tips on how you can save some cash on those (inevitable) repairs. Budget. It. Out. You got it—as in, make a budget for your projects. Many people end up spending a lot of money on their home repair projects simply by getting big ideas then and out-doing themselves. Set a budget from the beginning and try your best to stick to it. And remember to be practical. You don’t have to do everything all at once. Instead, consider staggering your various projects over the course of the year. FYI on the DIY. Everyone wants to save money. And many times, that means taking things into your own hands. For this reason, the do-it-yourself approach is usually the best bargain in town. But be careful. Taking on a task for which you’re not qualified (like rewiring an electrical outlet or installing new flooring) could cost you more in the long run. Hunker down, but keep in mind you might need to hire a professional later to undo all the well-meaning but harmful work you did. Pro tip: YouTube and many home improvement stores have DIY videos on their websites that walk you through simple fixes. No time like the present. Being proactive never hurts. Some fix-it jobs like a crack in the kitchen tile or leak in the ceiling are only going to get worse over time. It’s less expensive to fix a small problem right away than to wait, as it typically gets worse before it gets better. Additionally, keep in mind that other problems, like broken window frames or loose stair treads, can cause safety issues if not handled promptly. Be quotable. For the bigger jobs, make sure you shop around for the most wallet-friendly price. Most contractors are willing to work with you for a lower price if they know you’re speaking with other shops. However, the lowest quote isn’t always the best deal. Try to go with established repair professionals over a mutual friend who’s good with tools. Also, chain locations might be a bit pricier than your local neighborhood repairman. Support the little guy, y’know? So, all you home-repairing savvy savers, give these tips a try! Most importantly, enjoy the upcoming spring and home repair weather. All the hard work and (smart) spending is well worth it in the end. You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! 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