Homeownership can be extremely rewarding, but it can also be extremely expensive. Over time, your home will naturally degrade and require repairs. While some things can be fixed without spending a fortune, many home repairs can cost tens of thousands of dollars. Consequently, you’ll need to prepare for these expenditures and take certain steps to keep yourself from going into debt. So, let’s take a look at 4 important do’s and don’ts to help you save on your next home repair!
DO Create an Emergency Fund
For many homeowners, major repairs can feel like a huge burden. This is especially true if you’re still paying down your mortgage. The costs can quickly add up, forcing you to refinance your home or take out a loan just to keep a roof over your head. As a result, there’s no time like the present to create an emergency fund for home repairs. Even if you can only put in a few dollars per week, it will really come in handy when you need to pay for substantial home repairs.
DON’T Be Afraid of Simple DIY Repairs
If you just need to patch up a hole in the drywall or fix a squeaky door hinge, don’t be afraid to try a DIY repair. The Internet has a plethora of tutorials for home repair beginners, so you can easily source information to get the job done right. Not only can this help you learn new skills, but it can save you a ton of money on labor costs!
DO Hire Experts For Structural Work
Structural work, including anything to do with the walls, roofing, or foundation of your home, should always be left to the professionals. Having basic carpentry skills is not a good reason to start knocking down walls or attempting to replace major parts of your home’s structure on your own. So, even if it means paying more out of pocket now, hiring professionals for structural work will likely end up saving you money and adding value to your home. For example, if your brick porch needs major repairs, don’t hesitate to call the experts at Brickworks Property Restoration and get a quote.
DON’T Attempt Gas or Electrical Work
Needless to say, you can ignore this tip if you’re a professional electrician or plumber. However, if you’re like most of us, you’re knowledge of your home’s internal system is rudimentary at best. If you try to fix an electrical or gas issue by watching Youtube videos, you could be in for a rude awakening. Not only could you do irreparable damage to your home’s gas or electrical system, but you could end up getting seriously injured. So, if you get the feeling that you’re in over your head, you’re probably right. Just save yourself the trouble and call the professionals.
Are you looking for even more ways to save money? If so, be sure to check out one of our other personal finance posts today!