Try the 1% rule!

By May 17, 2018News

1% saving could mean €100’s or even €1,000’s in saving!

It’s true for most cases but most people aren’t as bothered about saving you your money as you would be yourself. Using the budget guide we gave you a few emails ago you should begin looking at places where you can save small bits here and there. Associate a saving with something from a finishing perspective that you would like, whether it be a picnic area, or play area for the kids of something that would be really great to have saved and all part of the same budget.

Everybody tries to save big in a few places, why not try and save small in a lot of places, you will be far more likely to succeed.

Do the legwork

Sometimes, saving money is as simple as being willing to look for a bargain. When ordering building materials or looking for tradespeople, resist the urge to settle for the first offer that comes your way.

Keep looking until you have a range of prices to choose from even if the variance is just 1%. If you practise this principle throughout the course of your build, you stand to save a substantial amount of money.

Give yourself several bid options

As a rule, you should be wary of bid offers that are suspiciously lower than the average because if it looks too good to be true, it usually is. However, within the context of the 1% principle, it is possible to score a bargain by looking around and comparing several bid options.

A number of builders charge premiums based on nothing more than their size and reputation. It may be possible to get a quote from a smaller builder that is several hundred Euros cheaper, at the same level of workmanship.

Order in advance

In many cases, people are able to get materials at lower prices when they order weeks or months in advance. If you wait until you need the materials or items before ordering, you’ll often find that you will end up paying a sizeable that means that you will essentially spend €60 on absolutely nothing.

If you order 3 weeks in advance on the other hand, you basically have €60 to spend on a small night out. When you apply this 1% principle across ordering materials and booking tradespeople for an entire building project, you could very well end up saving thousands.

A little DIY never hurt anyone

A lot of people find that they can save sizeable amounts of money by simply doing many things themselves, whether it’s putting down a hardwood floor or installing ceramic tiles or even putting in the paint job or wallpaper.

With a bit of practise and determination, most people can do these things by themselves without any noticeable dropoff in quality as compared to having a tradesperson do it. What is more, it’s often great exercise too!

Get hold of every discount you can

Whether it’s buying materials from a friend who gives you a bargain, or using a building contractor who is a relative, or collecting gift cards and discount deals from stores, these things all add up.

To put it in perspective, if the total cost of materials for your house is €50,000 and you manage to knock just 1% off this amount using bargains that means that you have successfully freed up €500 to spend on other things! That’s pretty neat.

If you would like any more info please give us a call or call to our brand new showroom based in Briarhill, Galway.