How to Save Money on Major Home Repairs

Dry Pro explains how to save money on major home repairs. - Dry Pro Foundation and Crawl Space Specialists Technical Papers

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 It’s time for your home to be repaired! Believe it or not, problems such as foundation issues, sinking concrete, sump pump failures can sneak up on us. 

Heck, even if you’ve known that an expense was coming, why would you pay more than you have to? The best thing you can do is be informed. 

FIX IT EARLY 

It goes without saying: The smaller the issue, the easier the fix and, consequently, the lower the cost. The crack under your window can be quickly inspected and repaired. But once you factor in some rain, and the cracks open up, water enters into your basement and you’ve suddenly multiplied your expenses-and maybe even wrecked something priceless in the process. 

Relate it to your car. It’s less expensive to change the oil regularly than replace your entire engine, right? Well, the same thing goes for your home maintenance. Unfortunately, your home doesn’t come with a check-engine light, but a sticking window, sloping floor or wall crack are all signs that there is a problem. 

Your home won’t repair itself, however, we can tell you that the sooner you diagnose and repair a problem, the easier it will be on your bank account in the long run. 

Be Ready to Make a Decision

Often, contracting businesses take a no-haggle approach with homeowners, but in the absence of negotiating, they do offer discounts. Some businesses offer same-day savings because it helps them run more efficiently. This is because if you wait to make your decision, another inspection may be needed. Which means sending out another person, using more gas, putting additional miles on your car, etc.  

If a company offers same-day savings, you should seriously consider it. Every day, homeowners miss out on 5% off a project that’s $10,000 or more simply because they weren’t ready to make a decision. By the way %5 of $10,000 is $500. Not a small amount of money to anyone. 

Pay Attention to Financing Options 

In addition to paying cash, there are other ways to finance a home-repair project, including personal loans, home equity loans, lines of credit or using a credit card. Sometimes interest rates are low, which helps keep the total cost of borrowing down. But other factors to consider include how low you’d like your monthly payments to be and how long you want to carry the debt. 

Also, it’s a good idea to ask the contractor if there is a benefit to financing with them directly, such as paying no interest for a certain period of time or receiving a discount on the total cost of the project. 

Only Fix It Once 

There is only one way to make sure you don’t need to fix an issue more than once, and that is getting it done right the first time. Of course, this is obvious, but hear us out. Google “bad contractor,” then immerse yourself in the hundreds of stories about the homeowners who were “taken advantage of” and “never thought it would happen” to them. Unfortunately, there are bad actors in the home repair industry. Sometimes, it’s intentional. Other times, it’s a well-meaning effort, but they simply didn’t know what they were doing. 

The solution? Pick the company that you know will do it right the first time, and no, not the cheapest nor the fastest, but the one who will stand behind their work!

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