Do It Yourself (DIY)
Why pay someone for a service when you can do it yourself. DIY is not that much of a secret for individuals that wish to save a boat load of money. It is an "expense avoidance" technique that you could learn to incorporate into your lifestyle. It is fun to learn new things, and see the results of your handiwork. You can pick and choose what skills you want to develop and utilize. This article discusses just a few of the DIY activities you might adopt.
Around the Home
As you learn to own and maintain a home, you will find an endless list of DIY projects and skills you could master. Some may be more complicated than others (such as electrical wiring) and some are quite easy (such as painting a room). Each has its own skill set that may require viewing YouTube how-to videos or visiting your local hardware store for friendly advice. And, besides basic maintenance, incremental improvements to your home will increase its resale value when you sell.
Sweat Equity is another method for adding value by your labors, i.e., by cleaning up, sprucing up, and generally fixing what's broken or in disrepair. Make a long list for what needs attention and get to work.
Most new home owners find out that their home's architecture style and decor is outdated. Their impulse is to contract a major renovation costings thousands of dollars. They would also need interior design help before construction starts. Eventually they realize that multiple contractors for electrical, plumbing, cabinet installation and others are needed for the project to commence. And, to finance this project, they would need to receive a Home Equity Line of Credit (HELOC) loan from their bank at an interest rate of 7%. As you can surmise, this typical approach would lead these new home owners further away from achieving Financial Independence.
Your DIY approach would be different. You plan to do much of the work yourself with selected portions contracted to professionals (not because you can't do it, but because it makes sense). How would this look?
Skills mastered in the above project can be applied throughout the home. When you find you need help, visit a local home improvement store, visit a how-to website, or take a class. Planning your DIY projects, developing fundamental "under-the-sink" plumbing skills, mastering minor electrical wiring jobs, painting walls and trim, and laying flooring can save thousands of dollars.
When it comes time to sell your home, perhaps when downsizing before retirement, you will have an asset that has obviously been cared for and loved with evidence in plain site. Your home will have an appeal because of the meticulous clean and functional kitchen, the creative and maintained landscaping, and the home's attention to color and style. No flipped home can compare. It shows when a homeowner pays attention and cares about their home as an owner should. Your home will pay-off handsomely when it sells.
DIY Activities Around the Home
Before giving thought to calling a contractor, consider these common DIY skills and projects.
Automobiles can be pretty complex. These days there are less and less DIY projects that apply to cars. Some DIY activities for cars include:
One more Category - Fixing Stuff that Breaks
If you have the knack and other abilities relating to fixing stuff that breaks, the DIY - fix can save the landfill from another broken item and save money on buying replacement items. Examples of fixes can include: