With low interest rates and a booming housing market, many families are even moving across state lines to find the best deal. If you are touring houses and oscillating between fixer-uppers with "good bones" and brand new properties, you may be wondering — will you tackle projects yourself, or hire help? Here are the pros and cons to help you decide.

Cost

The cost of doing it yourself depends on what resources you have available — personal skills, knowledge, and physical ability — as well as your financial budget. Are you comfortable going over budget, or are you working with a very tight number? The cost of a project will typically rise about 30% when using a company over your own skills. However, when paying a company, you are paying for expertise, manpower, and the promise of a finished job that starts and ends on schedule. Any unexpected hiccups in the process can be resolved by professionals without derailing the timeline.

Manual Labor

DIY projects are made harder by the manual labor involved. Hours of toiling and sweating can be rewarding for some and a genuine struggle for others. Checking in with your own ability levels is crucial when deciding between a company and DIY. Keep in mind that certain jobs require multiple sets of hands, specialized tools, and on-the-fly problem-solving that can be difficult to manage alone.

Controlled Outcome

What outcome do you want? Are you a perfectionist, or are you relaxed if a project takes longer or comes out slightly differently than expected? With any home project, there will be bumps along the way — demos can uncover pipe configurations, mold, or crumbling walls. Will you have the knowledge, fortitude, and time to adapt? A determined DIY-er can often find solutions online, but are you confident in your ability to execute them? It is also worth noting that there is at least one project that should always be off-limits to any amateur — electrical work should always be left to a licensed professional.

ROI

What are you hoping to accomplish with your project? It is important to consider the return on investment. Kitchens, bathrooms, and closets tend to offer the best ROI at resale. Some homeowners have highly personal design ideas that they love, but which may actually detract from resale value down the line. A professional company can help you determine whether your planned changes will be a positive move in the market — whereas DIY projects rely solely on your personal taste as the measuring stick.

Ultimately, only you can make the right choice between DIY and hiring a professional. Keep checking back to the Kratos Gas & Power blog for more excellent ideas to spruce up your home and save money!