Guest Blogger: Money Saving Tips for Hiring a Home Contractor

 Guest Blogger #651, Entry #1550, September 2, 2012

You have dreamed of the perfect home renovation for a long time and are finally ready to make it a reality. Your vision is to create an inspiring and inviting place for family and friends to gather, and you hope the redo will also increase the value of your home. You do not want to dig to deep into your pockets, however, and are concerned that hiring a contractor will set you back a small fortune. Before you resign to take on this daunting task yourself, understand that involving a professional on the job does not have to cost as much as you think. So put down that hammer and consider these tips for an affordable renovation.

Considering a contractor for a renovation?

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Hire contractors in the off-season

The easiest way to save money on your project is by hiring your contractor in the off-season. Many are eager for work and are willing to offer discounted rates as a result. Avoid construction during the summer, as it is the peak of construction. Scarcity of labor and a short supply of materials tend to drive up construction costs.

It is important to be specific about what you want right from the start, so have a detailed plan ready before hiring a contractor. Getting specific will allow your contractor to make an accurate bid; otherwise he will have to make a general estimate that is probably more than necessary. This will also reduce the chance of you changing your mind in the middle of the process, wasting valuable labor and material costs.

If you are very handy but have never taken on a project of this magnitude, consider hiring a contractor who charges by the hour to advise on projects. He will teach you how to complete the complicated tasks, but this tip is only recommended for homeowners already skilled in construction.

Ask contractor can save you money

Get even thriftier with your redo by asking your contractor if he has leftover supplies like lumber or tiling from previous jobs. He could have something that fits your needs, and you will be doing him a favor by getting it off his hands. Save on labor expenses by helping out with simple tasks like painting and daily cleanup. Participate in the initial demolition, and you will probably enjoy swinging a sledgehammer through a wall much more than you are willing to admit.

How can you save money hiring a contractor for your renovation?

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Ensure quality when the job gets done

Though you want to get the job done for cheap, you also want to make sure it does not lack quality. When you receive the first round of bids from prospective contractors, discard the lowest one. The price is more desirable, but it could indicate the contractor is either desperate for work or prone to cut corners. You could end up spending more money repairing shoddy workmanship. Also be cautious of contractors who require at least 50 percent of their bid upfront. The payment schedule should be spread evenly throughout the duration of the project, allowing you to comfortably pay as the work is completed to your satisfaction.

If you are looking for ways to finance the construction, use contractormortgages.org to see if you can borrow against the new projected value of your house.

For more home renovation ideas on Stagetecture, click here.