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4 Easy Steps to Affordable
Home Improvement
The recent market meltdown has hit the housing industry hard. That's good news
for homeowners. There has never been a better time to make the home
improvements, repairs or remodeling you always wanted but never thought you
could afford. Here is a step by step guide to help you take advantage of the
lowest costs homeowners have seen in years.
Avoid Over-Spending
Before talking to any contractors the first thing to do is create a budget for the project. Without a budget you will be flying blind and may end up over spending. Having a tight budget will also help you make decisions about what kind of fixtures, and materials to purchase. Most products have a wide price range and having a budget will help keep you in line when making buying decisions.
Contractors aren't the only ones to suffer from a lessoned demand for
their services. The market meltdown has caused large overstocks in the home
improvement fixture and supplies industry as well. Many of these items are now
finding there way to online auctions at drastically reduced prices. You can see
some examples from eBay at the bottom of this page.
Funding Your Project
If your project is large, your contractor may offer financing but you should get
quotes from several lending institutions before making a decision. It's possible
to combine your home improvement funding with a new mortgage and actually
decrease your mortgage payments. The free services of
LendingTree.com and
LowerMyBills.com can
help you quickly find financing that best fits your budget.
If you plan on using a home
improvement loan or refinancing your mortgage to fund your project but have less
than perfect credit, it's worth looking into the services of companies like
Veracity Credit Optimization.
 Veracity
uses time-proven credit repair methods
to
help you take control of your credit reports and gain the financial strength
you need to
get better credit.
Get Estimates from Different Contractors
After you have your budget dialed in get three written estimates from three different contractors. Be sure the estimate is complete; getting a “written” estimate on the back of a business card is not a sign of a good contractor. Getting three estimates will enable you to compare prices from different contractors.
ReliableRemodeler.com is a great service that will help you get estimates from quality contractors for free.
Take the time to talk with each contractor and get a feel for which one you will be most comfortable working with and having in your home. Be sure and pay attention to things like who shows up on time and who is prepared to talk about your project. If a contractor shows up late to your appointment chances are they will show up late when working on your project.
Check Your Contractor's Credentials
While you are in the process of selecting a contractor it is a good idea to make sure they have the proper license, insurance, and bonding. All three of these items are in place to protect homeowners. Working with a contractor who isn’t licensed or doesn’t have the proper insurance might come back to haunt you. A good contractor will show you copies of these documents when they present your written estimate.
The next step is to check the references of the contractor you are leaning towards selecting. Be sure to ask specific questions about their experience with the contractor. “Did the contractor show up on time?” “Did the contractor clean up after themselves?” If you want to be more aggressive you can ask the contractor for the names and numbers of their last three jobs and call those instead of their handpicked references. This will provide a more realistic overview of the contractors daily work habits and skills.
The last step is to select your contractor and have them provide you a timeline for the completion of the project. Having a timeline will help ensure your project is completed in a timely manner.
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