It’s been said that the Millennials, or Generation Y, could also be called Generation DIY. In the YouTube era, where you can find out how to do just about anything with the help of a handy tutorial, it’s not surprising that more and more people are looking for budget DIY fixes around the home to save cash. If you track your spending every month for these DIY fixes, you will be amazed at what you save over the course of a year compared to what you’d spend if you paid someone else to do the work. We take a look at some of the best budget fixes for homeowners, as well as some of the projects best left to the professionals!
Best low-budget home repairs to tackle on your own
Cosmetic upgrades and touch-ups:
Whether it’s repainting your kitchen cabinets or a whole room, or learning how to reupholster an old couch, if it’s purely aesthetic, it’s often something you can do on your own. Not only are these affordable ways to put your own stamp on your property and truly make it your own, you’ll learn valuable skills along the way.
Here are some more ideas to get you started:
- Paint your bathroom tiles
- Make your own curtains
- Create a stunning accent wall
- Make some string art
- Build an herb garden for the kitchen window
- Replace drawer, cabinet or door handles
- Create your own picture frames
For more inspiration, checking out some interior design shows the next time you’re ‘Netflix and chilling’ is a great (and totally easy) way to get ideas!
Minor common repairs:
And while they might not be as fun as the creative stuff, there are some common household repair skills every home owner should try to master. Sooner or later, you’re probably going to need to tackle the following:
- Removing old caulk and laying down new
- Fixing holes in walls
- HVAC maintenance
- Fixing a leaky faucet or leaking toilet
- Cleaning out your refrigerator coils
- Unplugging a clogged toilet or replacing the wax seal
- Planing a door to prevent it sticking in humid weather
- Cleaning out your gutters
Getting familiar with common home maintenance tasks you can do on your own is a great way to keep your home ship-shape, and save money in the process.
When to call in an expert
There are always times, however, when leaving a job to the professionals is the most sensible approach. Ask yourself:
- Is it dangerous? (think major electrical or roof repairs)
- Could I end up doing more damage accidentally? (anything where water damage is a concern is a prime example – such as washing machine repair or large plumbing jobs that could leave you with a flood!)
- Am I guessing at what the problem actually is?
- Could I be messing with load-bearing walls or structures?
- Am I improvising because I don’t have the right tools for the job?
If you’re at all uncertain on any of these points, you could well end up having to fork out more money to get the ‘repairs’ you’ve attempted undone! Another time it’s best to call in the pros is if a problem seems to be recurring over and over – in these cases there’s probably an underlying cause you’re not aware of.
Never put your safety or that of others in jeopardy in the attempt to save a few bucks. Call in an expert, and ask them to explain what they’re doing as they work so you can pick up a few pointers!
Budgeting for home repairs
When you purchase a home, especially if you’ve been renting for a few years already, the cost of maintaining your property takes virtually everyone by surprise. Without a landlord to turn to for help (and with the added cost of your monthly mortgage repayments to consider) when something goes wrong, it can hurt your pocket big time.
Home repairs can be very expensive – and they’re not always predictable. Putting some money aside each month so you have an emergency fund just for your home is the best way to take the sting out of calling in a contractor.
How much should you set aside? Two great general guidelines are:
- The 1% rule – Put aside 1% of your home’s value each year for maintenance. On a $300,000 home, for example, that’s $3,000 a year or $250 a month.
- Per square foot rule – Put aside $1 per square foot of your home per year for repairs. This rule takes the size of your home into account, which makes a lot of sense.
However you budget for it, the important thing is that you leave that money alone, and put it into an inflation-beating savings account so it becomes an investment. If you’re lucky enough to escape major repairs for a few years, then you could even use some of the accumulated funds for renovations and improvements down the line!