As the holidays approach, you may want to shift your focus away from electronics sales and towards home improvement deals that can save you money. From tin tiles to hammers, DIY supplies and landscaping, these bargains can help you save for future renovations.
If you’re thinking about remodeling a room or your whole house, researching multiple financing options is crucial. Find the best loan for home improvements by comparing rates, terms and qualifying requirements.
Black Friday
You might think of Black Friday as the time to score great deals on clothing, shoes and electronics, but you can also find many home improvement items on sale this holiday weekend. Wayfair, for example, offers early Black Friday deals on furniture, area rugs and lighting months in advance of the holiday shopping season. You can also take advantage of a number of buy one, get one free offers on home products from Barnes & Noble and BJs Wholesale Club.
The big home improvement stores like Lowe’s offer discounts on their usual line-up of products, from appliances and power tools to outdoor supplies and holiday decorations. Even everyday items, such as filters or cleaning products, tend to see the best prices of the year during the Black Friday event. For example, you can save on a RYOBI tool kit that includes drills, saws and other essential tools in a labeled case for just under $100.
Resale Stores
Home improvement projects can cost a fortune, but you can save big on materials and renovation items by shopping at resale stores like Habitat for Humanity ReStores. ReStores sell building materials, furniture and household goods for a fraction of retail price and generate profits to help families build strength, stability and self-reliance through affordable housing. You can also find great deals at thrift stores and by asking friends and neighbors who are remodeling if you can buy their leftover materials, such as tile or doors. Also check online classifieds, such as Craigslist or eBay. There may be an ad for the item you need right in your own community.
DIY
Homeowners can often save a lot of money by DIY-ing instead of hiring a general contractor. This is especially true for projects that are labor intensive, or that require strength over skill (e.g., adding landscaping, replacing windows or building decks). But when deciding whether a project makes sense as a DIY undertaking, homeowners should consider the time investment and their level of expertise, as well as any HOA or town rules regarding work permits.
In addition to the labor costs, some projects can add up quickly with the price of materials on the rise. In some cases, the DIY route isn’t financially feasible, even if it would save money over hiring a professional. This is especially true if the goal of a renovation is to boost your home’s value for resale. In this case, prospective buyers can usually spot amateur work and be turned off by it. A better option is to use a credit card or personal loan, both of which don’t involve putting up your house as collateral.
Landscaping
Landscaping can be a big impact on what your home is worth, particularly if it’s time to sell. Realtors often recommend that homeowners upgrade their yards to boost resale value, since homes with attractive lawns and gardens make a better impression on potential buyers. You can save money on landscaping supplies by using store credit cards, which typically have lower requirements than personal loans or home equity lines of credit, which use your house as collateral.