My budget for remodeling my ramshackle 1970’s home was embarrassingly small. But with my rotten deck posing a walking hazard and my broken toilet a worse health hazard, I couldn’t wait to save up cash. Instead, I looked for ways to cut home remolding estimates I got from contractors. And, as an added bonus, I discovered ways to save on the projects I did myself. Here’s what I learned.
Slice the pie
This negotiating tip is a lot like ordering a whole pizza but buying only a few slices. When I requested an estimate for my living room remodel, I included items that I intended to do myself. When the estimate came in at $6,400, I negotiated the price down by removing these “fluff” items from the work order. I brought the price down to $3,900.
Quid pro quo
Businesses know that statistically every unsatisfied customer will share his experience with ten people, while a satisfied one will only share it with one. When I haggled for a better price, I made it clear that I have a wide circle of friends, family and co-workers, and that I will share my positive feedback with them. Any discount I got would then pay for itself several times over through referrals.
Shop for materials yourself
Home remodeling estimates include the cost for labor and materials. I would search the internet or call local suppliers to hunt for better prices than those offered by the contractor. Buying floor molding directly from a lumber yard, I benefited from the bulk purchase discount myself and paid 30% less than the contractor would have paid at the home improvement store where he had a business account.
Established and smaller
The larger the home remodeling business, the less personal it is, and the smaller the chance you’ll have of haggling for a better deal. Instead, I chose small family-owned businesses with over ten years’ experience, who were insured and licensed. I could then negotiate directly with the representative who gave me the estimate, who would have the authority to make price cuts.
Specialized is better
I always chose specific specialists for each project rather than a single company that does everything. A niche contractor was likely to get better prices on materials (due to bulk buying), which he could pass on to me. He would also be more efficient and the project would likely take less time, saving me money indirectly by reducing unwanted disturbance in the smooth running of my home.
Authentic imitation
A good contractor should have knowledge of cheaper alternatives and show you samples of materials that will cut your home remodel costs considerably. For my basement flooring, I cut an unaffordable home remodeling estimate by 60% when I switched my choice of materials from hardwood to laminate. For my kitchen countertop, I chose granite tiles instead of a slab, and got the look I wanted on a budget.
Don’t replace! Refurbish
Instead of replacing plain doors, I built panels for them. Instead of pulling out plain kitchen cabinets, I had them refaced. Instead of tearing out an ugly vinyl floor, I covered it with modern vinyl tiles. I saved money repeatedly by searching for contractors who will refurbish what I already had in my home, or by doing the refurbishing myself.
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