411homerepair.com

How to Save Money on Major Home Repairs

by Boris Dzhingarov on Jul 11, 2014

Major home repairs can take quite a chunk out of your hard-earned savings, so many homeowners do whatever they can to take the proper steps to avoid major mishaps. But even if you take all of the right preventative measures to avoid a big problem or a costly repair, things can happen as a result of Mother Nature, the aging of your home, or the simple wear and tear of major appliances.

If you find yourself in a situation that will require you to splurge a lot of your money on a costly home repair, though, there are steps that you can take to reduce the burden. By following the tips below, you can save some money so that your bank account is not hit as hard as you think it will be.

Purchase Home Emergency Insurance

Home emergency insurance, or home repair insurance, is a great asset to have to back you up if you suddenly and unexpectedly need to make a major repair. Some home insurance policies include emergency cover automatically, while others allow you to purchase it as a supplemental form of insurance. 

This type of insurance is very convenient and worthwhile because it will be there to cover the costs associated with a variety of emergencies, including blocked drains, a pipe that has burst, home electrics that have suddenly failed, and even a boiler that has broken down. So, for example, if you had this insurance and your boiler broke down out of nowhere, you could locate boiler repair companies and the surrounding areas that will accept your insurance. Then let the insurance company take care of the costs or at least a portion of the costs.

Hone in on Sales

If you want to avoid overspending when an emergency repair strikes, start shopping around for the best prices now. Check online retailers, along with local home improvement stores that are either independently owned or franchise chains. Compare their prices for major appliances and equipment that you would need to make a major repair.

You may even choose to purchase some tools in advance just to have on hand in case anything needs to be fixed quickly. Otherwise, you will already know where to go to find a great bargain when you are faced with a repair that needs to be made right away but you do not have a lot of money to put towards it.

Negotiate for a Lower Rate

Believe it or not, you do not have to settle for the first-rate that a contractor gives you when you ask them what it will cost to perform a much-needed major repair anywhere in your home. You can get a great deal by negotiating a rate that works for you and your contractor. Beware, though, of contractors who offer super low rates because this may be reflective of the actual quality of their work. The last thing you need is to hire someone who will do a poor job and then have to spend even more money to hire someone with the expertise necessary to fix not only the original problem but also the secondary problem caused by an inexperienced repair company.

You can increase your odds of bringing a contractor's price down by researching the rates of several contractors in your area, asking them to conveniently break down how much they will charge you for labor and materials, and asking them if they will bring their price down if you purchase the materials and supply them. Again, shopping around for prices ahead of time, or even before you hire a contractor, will give you a very clear picture of how much you would end up spending on supplies. You may find that, without the contractor's mark-up, you can actually save money by buying materials yourself and then just paying for the labor. 

Keep an Eye Out for Rebates

Always take advantage of rebates, especially when they come with products that are used throughout the home that can be quite expensive. These can help you lower your costs, especially if you are planning on making the repairs yourself or you have been able to negotiate with a contractor who will help you save money by purchasing the supplies yourself.

Store flyers and websites, as well as manufacturer websites, often promote special rebates. Though this step may require a bit of research, it will be worth it in the long run if it saves you money. And it may even make the decision of what brand to purchase easier, based on quality and price (remember, you don't want to go so cheap that you end up wasting your money on a product that will not last).

Also look for environmentally-friendly products that come with incentives like rebates or discounts, especially since manufacturers are trying to get more people to purchase these products to do reduce energy consumption or water consumption to preserve the environment.

There are a surprising number of ways to save money when it comes to making major home repairs. Do your research, look for sales and rebates, and never be afraid to negotiate with your contractors. And if you are skilled enough to do the work yourself, you can also save a lot of money by eliminating the need for a repair company.

Latest Articles

10 Concrete Patio Ideas on a Budget

A concrete patio can be a game-changer for your outdoor space. It is durable, versatile, and can be customized to fit your style. But what if you...

on Mar 25, 2025

Tips for Creating a Stunning Personalized Photo on Canvas

Order the unique beauty of a personalized photo on canvas and bring your memories to life. With a customized photo on canvas, you can transform...

on Mar 7, 2025

Best Areas to Buy Property in Singapore for Long-Term Growth

Singapore's real estate market remains one of the most stable and lucrative in the world. With limited land supply, strong governmental...

on Feb 18, 2025

Troubleshooting Excess Water in Your HVAC Secondary Condensate Drain Pan

When maintaining your air conditioning system, it is easy to overlook the condensate drain pan - until excess water starts pooling in places where...

on Jan 12, 2025

Real Estate Investment Trusts (REITs): A Beginners Guide

By combining the advantages of stock market and real estate investing, Real Estate Investment Trusts, or REITs, offer an alluring investment...

on Dec 19, 2024

Sponsored Articles

Actions

More DIY Articles

When Looking for Garage Storage Space, Think UP!

Garage storage space is usually at a premium. Aside from the basement, the garage is where all those things that you don’t need right away but will...

Doors / Garages

The A1 Herty Gerty: Do I need one or not?

No matter whether you’re a long-running business or starting afresh, having the right piece of kit to complete your tasks is essential. And when it...

Safety / Security

The Rise of Electronic Locks

Due to the sophistication and technology, electronic locks are obviously more expensive than manual key locks. The difference is that electronic...

Safety / Security

The Best Types of Perennials for Beautiful Spring Planters

Fall planting gives perennials a head start over those established in spring. Fewer insects are around to torment or damage plants in the fall. As...

Garden / Landscaping / Patio

Additional Maintenance Necessary for Tile Roofs

When you have your tile roof cleaned you may want to consider taking some extra steps which can prevent a very tragic outcome. Often times moss,...

Roofing / Gutters

Contact Us | Submit Article | 411homerepair © 2025