You rarely see the cost savings of DIY projects on finance blogs, but there is a big cost savings in doing it yourself to save money and increase the value of your home.
This includes everything from renovating your house, painting, and building your own furniture.
It is absolutely incredible how much you can save over a short time by doing the most basic DIY projects without hiring a “professional”.
I use the word professionals loosely because I have family that have been ripped off by contractors.
Doing It Yourself To Save Money
There are so many reasons why you should DIY for just about any project in your home.
You can avoid having strangers in your home to work on projects.
Doing it yourself is fun, and gives you a feeling of satisfaction.
Even if you do not have a lot of experience, your work will probably be just as good or better than most professionals.
I say that because no one cares about your home more than you do, so you will try harder on a project than most professionals.
DIY Projects That Save Big
It’s amazing what a fresh coat of paint or new floors can do to the value of a home.
It’s hard to see the real cost savings of doing projects yourself.
Meaning, if you increase your salary, you quickly see a larger sum of money, or when you save money, you see your bank account grow.
When you’re simply cutting costs, you won’t necessarily understand how massive the cost savings actually are.
I’ll give a breakdown below to give you an idea of things I’ve done to my 1,900 sq ft town home and how much I saved.
I did provide a range with most of these because there is obviously high end and low end work.
I’ve seen similar kitchen tables sell for a thousand dollars or more, but made from particle board.
This custom sized rustic wood kitchen table and bench is made from rock solid wood.
The bench was made of left over wood, and I saw benches alone for over $100.
Realistically, this cost me nothing because it was scrap wood from other projects.
Even though this coffee table is from scrap wood, it still turned out awesome and works great in my space.
If I were to purchase the materials to make this table, it would roughly cost $40 in material and stain.
I’m probably shooting on the low end of savings with this but simplistic coffee tables like mine can range from $150 to over $300.
My friend had a bamboo floor “professionally” installed and after a few months the boards were separating and there was gaps by the quarter round.
He paid around $1,000 for the labor on a much smaller area, but ended up with terrible work.
Do it yourself to save money and do better work than the professionals because no one cares about your home more than you do!
Roughly 750 sqft – $1,500 (savings=$1,500-$2,000)
Installed Kitchen Appliances
How did you save $175 by installing a few appliances?
Well a very popular home improvement store quoted me $100 to install the microwave, and another $75 to install the dishwasher.
I promptly declined because I knew I could figure out how to install these appliances myself.
It cost me nothing (savings=$175)
First, you have to demo the bathroom then lay the new tile, install the vanity, hang the mirror, add the toilet, and connect all plumbing.
If I were to higher a professional to update this bathroom, it would easily cost $2,000-$3,000 or more.
Removed outdated laminate flooring, installed new tile, vanity, vanity faucet, light fixture, mirror, and toilet – $600 (savings= $1,500-$2,500)
We painted every room and ceiling in our home when we first moved in because the entire house was yellow.
Our neighbors received a quote for $1,500 to paint the same square footage as our home.
Paint every room in the house, including the ceiling – $250 (savings= $1,250)
My brother paid to have a bar built that ran him $2,500 and only sat 5 comfortably.
We built our bar to seat 7 people turning any space into the ultimate entertaining area!
We spent months researching how to build a bar before we finally decided to figure it out ourselves.
Our instructions are so helpful, that we wish we had these when we were building our bar.
Full-sized bar that seats 8 – $800ish (savings $1,200)
Getting a professional to reface or paint your cabinets would mean removing hardware, doors, etc.
A friend of mine received a quote for $2500 to paint all of her kitchen cabinets.
Painting cabinets can be tedious, but it can be done in a weekend for under $100.
Total Saved from DIY Projects
All of these DIY projects cost me about $3,500.
The total cost savings for a house that I’ve been in for 2 years is roughly $6,100 – $8,100.
This cost savings doesn’t even include the other projects that I’ve built or replaced.
I have also, built a console table, game table, building our headboard, replaced my hot water heater, and installed new light fixtures.
There are also other basic things that we’ve done like replacing outlet switches, door handles, and hanging blinds and curtains, all of which would cost you hundreds if you hired a handy man.
Of course the risk is if you do something wrong, you may have to hire a professional anyway.
I found each project easier than the last.
It was exciting to finish a project, especially when you realize the cost savings of the project.
If you’re not comfortable doing these projects yourself, start small and work your way up.
Even doing something like installing blinds will save you $200 or more.
Have confidence, have fun, take your time, and save money along the way. What’s your biggest cost savings project?
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