Benefits of DIY Home Remodeling

Remodeling a house on your own is rewarding to say the least. The benefits of doing all the labor yourself can be self gratifying and save you lots of money. I chose to do as much home remodeling on my own as I could and was able to make a substantial profit once I sold the project home.

DIY vs The Contractor

By doing all the work yourself you are going to save money – period.
Lets say the cost to purchase a 1000 square foot home (needing a remodel) is $50k. Suppose the cost to remodel this home would require around $30k in materials. Typically you could expect to pay a contractor 125% of the material cost just in labor. Thats a whopping $37,500.00 just for the contractor labor. All together thats going to bring your total home remodeling cost up to $67,500.00! Now add in the orginal purchase price of $50K and that makes the total $117,500.00.

Typical Home Loan Financing

DIY Method Paying a Contractor
Home $50,000 $50,000
Material $30,000 $32,100 (assumed 7% markup)
Labor $0.00 $40,125
TOTALS $80,000 $122,225
30 yr Mortgage @ 4.0%
Monthly Payment
$381.93 $583.52
Total Money Spent $137,495.67 $210,067.61

The DIY savings are huge! A grand total savings of $72,571.94

Thats almost the original cost of the whole home remodeling project if you do all the work yourself!

 

Be the first to comment - What do you think?  Posted by muellerd - March 18, 2013 at 9:12 AM

Categories: Getting Started   Tags: , , ,

Add Curb Appeal with Vinyl Siding

Your old home looks like the worst home in the neighborhood. You’ve just recently finished a DIY home remodeling project inside and are ready to give your house some curb appeal on the outside, but what to do? Adding vinyl siding to an old home is probably one of the most cost effective and quickest way to give your home and a brand new look. Old Siding and SoffitThe cost to remodel your homes siding is relatively cheap compared to the paybacks you can attain when selling your home.

If you’ve spent the entire winter inside remodeling your home it’s time to get outside and think of the exterior. There are many different types of home vinyl siding available that will give your home a cosmetic facelift. Vinyl siding comes in many styles and colors to choose from. I reccomend going to a specialty store that deals predominantly in home vinyl siding. This type of store will have the most selection and qualified people available to help you in your decisions. The big box stores generally only carry a couple different styles and colors. Don’t limit your project to a couple colors. Try and stand out from the neighbors – this is what will set your home apart and possibly add more curb appeal value for your vinyl siding installation.

Remodeling the siding of your home with vinyl siding is quick since in most cases you can apply new vinyl siding directly over the existing siding. If in your case it is neccesary to remove the existing siding then I would reccomend getting a dumpster dropped in your driveway. Removing old siding adds up to a huge mess. My DIY home remodeling project turned out to have two layers of siding which led me to opt to remove both layers before installing new vinyl siding.

Permits typically aren’t needed to remodel the siding on your home, but I would check with your local zoning board before doing so. It’s better avoid conflicts in the middle of a job.

The finished vinyl siding product is going to not only add curb appeal but will protect your investment from the elements as well. Installing vinyl siding is worth the effort in my opinion. The application goes on really fast and you will be able to see your results immediately. Your neighbors will as well.

1 comment - What do you think?  Posted by muellerd - April 24, 2011 at 8:24 AM

Categories: Property Specs   Tags: , , ,

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