Home improvement boils down to the size of your budget. At the same time, many of you consider it a smaller expense. Even a minor alteration in your kitchen can cost you up to £2,000. Your budget often gets in a way of doing up your house. You may want to refurbish your kitchen or bathroom, or you might look to invest in an attic conversion. The first thing to do is to check how much money you will need.
DIY sounds budget-friendly compared to hiring a professional, as you only have to pay for the material you need. You do not have to be creative, as you can get a lot of ideas from social media sites. Pinterest is full of designs you can pick from and assign to your house. It is surely a nice way to make your house feel better.
DIY techniques sound good to people who do not have a bigger budget. However, your savings may still be short of cash. If so, you can considerloans for home renovation. These small loans can help fund the gap, but do not jump the gun.
If a budget is keeping you from hiring a professional, you can put off your project and, in the interim, can stash away money. Here are some ways to decide between DIY techniques or a professional:
Consider your skills
Home remodelling is no plain sailing. You should have special skills to complete the job. Before arriving at any conclusion, you should carefully examine whether you have the potential to do the job. Are you energetic enough to take up this project? Does it appeal to you?
Ripping tiles, installing a washbasin and replacing a fireplace are complex tasks. You need knowledge and special skills to carry out them. You might be able to do these tasks in a better way if you got some internship, but as a novice you should give it a second thought.
DIY techniques are a good idea when you have to make minor changes like fixing the door knobs, insulation and the like. Bear in mind any mistake can wreak the appearance of your house. Apart from that, you will end up hiring a professional to fix the damage, which will unfortunately cost you double.
Determine whether it is safe to do
Another thing to look at while determining whether to DIY or not is assessing the risk involved in the project. Some projects may involve electric repairs and installation. The involve the risk of catching fire or worse electrocution. Other complicated projects include dealing with the interconnected network of water pipes throughout your house. Any slightest damage or leak can disrupt the whole water supply system.
Safety should always be your priority. Before doing the renovation on your own, you should analyse whether you can manage the risk. Make sure you do not cause any superficial damage that costs you a fortune down the line. Many people prefer DIY techniques because of a lack of budget. If that is the reason, consider setting aside money and taking out home improvement loans.
These loans can help fund the gap in your savings. Hiring a professional will be a better choice when the project is subject to safety risks.
Figure out if you have sufficient time to finish the project
It is vital to determine the opportunity cost of taking up a home improvement project. You cannot say DIY is a lot cheaper as you just have to pay for the material, but what about the activities that you cannot do due to that? Renovation projects take several months to complete, and perhaps even more if you are an amateur. It can leave you high and dry.
For instance, if you have been remodelling the kitchen, it will be out of order for weeks or months, which means you will have to be dependent on takeaways. It costs you even more money. Your whole life will be disturbed.
It makes sense to hire a professional if you do not have enough tools and skills to get the job done as soon as possible. On balance the cost of DIY may be a lot higher than hiring a professional.
Compare costs
It is hard to accurately determine the cost of both methods. Neither of them can be cheaper because the actual cost is subject to the job type. DIY methods sound cheaper because you do not have to pay for labour. However, you should have all tools you need to finish the project. Buying or renting them will add a burden to your pocket. It will be more expensive if you borrow money. You can get fast loans approval from direct lenders. Make sure you choose the best deal.
If you decide to hire a professional, get quotes from multiple professionals. It will help you compare costs based on the labour charges, supplies costs and additional charges and save you a lot of money by comparisonshopping. Hiring a professional will cost you less than DIY if a home improvement project is bigger.
The bottom line
DIY is realistic for small home improvement projects. For bigger projects, you should try to hire a professional. Do not take up a project on your own if you do not have the complete knowledge and skills because it will cost you even a lot more money than hiring a professional.
Create a budget and set aside money torenovate your house. It will prevent you from borrowing money, and you can easily hire a professional to get the job done.
Lisa Ann has developed a well-experienced professional career. From managing the staff of more than 50+ loan experts at Fastmoneyfinance to boosting the delivery of various loan offers, she has acquired many challenging roles to come out with the best results for the company. Lisa Ann is a Senior Content Author and the Chief Financial Advisor at Fastmoneyfinance. To back her massive experience in the UK’s financial industry, she has the postgraduate degree and diploma in Business and Finance.