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Best Tips for Home Maintenance on a Budget
by Bates on Nov 2, 2020
How much does it cost to buff out a 400 square-foot wooden floor and apply a new protective coating? Well, that all depends on how you get the job done. If you hire a contractor to get the job done, it will take at least four hours over several days, and you’ll likely get charged for the whole day by the contracting group.
At a minimum of $25 per hour, per eight hour day, you’re looking at $400 for two days of work. However, if you do it yourself, for $100 in terms of polyurethane finishing agent and sanding equipment, and about four hours of your life, you can get the job done at 25% the cost of a contractor.
Basically, you move the furniture, buff out the ugly spots with a sander, sweep everything up, apply a polyurethane coat, wait six hours, do it again, wait six hours, and do it one last time. Voila, you’ve got a newly-finished floor that shines such that it reflects the light, you got a good workout in the process, and you saved $300+.
What has been done here is DIY home maintenance. If you’re going to save money on property management, this is going to be one of the best possible ways to do so. There are others, we’ll cover a few in this brief writing.
While DIY projects make a lot of sense—and as the adage goes, if you want something done right, do it yourself—it’s also important to be careful. You can do more than you realize once you put your mind to it, but there will still be certain jobs beyond your abilities.
Electrical and plumbing work are usually over complex for the average homeowner, and what you pay in mistakes is greater than what you might pay a contractor; meaning DIY won’t save you money in such instances. Accordingly, get a consultation from friends, family, and other associated authorities on the subject whom you can trust.
You can find key advice online, too. Various organizations can give you exceptional insights into affordable methods of maintenance for any property, while additionally advising you regarding things to avoid.
Analyzing Associated Costs And Benefits
Sometimes the time involved in home maintenance is too great to make a DIY project tenable. If you live in a winter climate, the job develops on your home’s exterior in October, and you work forty hours a week, then not getting a contractor could result in you coming down with a cold that drags on for a month, losing you an income from work.
In that case, even though going the DIY route is cheaper directly, it costs you in the long run. So though the DIY methodology is almost always advisable for the greatest cost-reduction in home maintenance, that isn’t always the case. Sometimes, too, the property won’t have a substantial value increase if you go the DIY route.
For example, if you’ve got a bottom-dollar property in a neighborhood attached to a city fast becoming a ghost town, then regardless of maintenance, it may be time to cut your losses and move. Take real estate market fluctuations into consideration as you go about maintaining varying properties.
Cut Costs While Keeping Properties Maintained
DIY approaches, consultation, situation evaluation, and keeping a careful eye on the market represent four key strategies worth employing to preserve your pocketbook when you’re affecting home maintenance from a financial advisor. Generally, the more you do yourself, the more you’ll save; but that isn’t the scenario in all situations, so evaluate yours carefully for best results.
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