DIY projects may seem like a budget-friendly way to improve your home, but they often come with hidden costs that can add up quickly. To ensure that home repairs and renovations don't deplete your household budget, it's important to approach these projects strategically. According to Forbes, in 2023 Americans spent their $481 billion on home improvement projects. With so much money invested in these projects, it's important to know how to save money.
Types of DIY projects you can do yourself
- painting interior walls
- Make simple cosmetic upgrades
- Update the paint and hardware on old furniture
- Replace old faucets and shower heads
- Transform a blank wall or corner
Here's how to efficiently tackle DIY home improvements.
underestimate the cost
The biggest pitfall for many DIY enthusiasts is underestimating the cost of materials and tools. Always add at least a 20% contingency allowance to your estimated budget for unexpected expenses. Research prices in advance, buy materials in bulk if possible, and consider renting tools instead of buying them.
Choosing the wrong material
Choosing the cheapest material can lead to poor results and the need for more frequent replacement or repair. Invest where quality is important, especially in high-traffic areas and structural components. Consult with a home improvement expert to make an informed decision.
Oversight permission
Many homeowners begin a project without understanding local building codes and permitting requirements. This oversight can result in fines or the need to redo work to meet code standards. Before you begin, check with your local building department to find out if your project requires permits.
waste of materials
Inaccurate measurements or inexperienced mistakes can lead to material waste. Please measure accurately and double check before cutting. If in doubt, consider hiring a professional for parts of your project that require high precision.
longer period
DIY projects often take longer than expected and can be frustrating and disrupt your daily life. Be realistic about how much time you can spend on a project, and plan for it to take longer than you expected. This plan will help you manage stress and expectations.
safety concerns
Working on a project without the proper safety equipment or knowledge can lead to injury. Invest in protective gear like goggles, gloves, and a helmet. Learn how to use each tool safely and follow recommended safety practices.
improper technique
Inadequate skills can lead to substandard work that may require professional correction later. Improve your DIY skills with online tutorials, workshops, and books. For complex projects such as electrical work or plumbing, consider hiring a professional to ensure the work is done reliably.
Implementing a deliberate approach
Always start with a detailed plan and a clear budget. Create a sketch of your project, list the materials and tools you'll need, and schedule each stage of work. This preparation can prevent many of the hidden costs associated with DIY home renovations.
By being aware of these potential pitfalls and preparing accordingly, you can ensure that your DIY projects improve your home without incurring unexpected financial burdens.
Editor's note: This article was created using automated technology, fine-tuned, and verified for accuracy by members of the GOBankingRates editorial team.
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