Saturday, May 30, 2009

5 Money Saving Tips For Contractors

1. Check your local Resource-Recycle Center for doors, windows, lumber, tile, hand tools, screen doors, sinks, cabinets etc. Most cities have a place where you can purchase quality used building materials. Check with your city or do a google search on the Internet. You can also donate your used or excess building materials for a tax deduction.

2. Save money on power tools by buying them reconditioned. Concerns about purchasing reconditioned power tools? "Reconditioned" power tools have been thoroughly tested, repaired (if necessary), cleaned, repackaged, and resold. Reconditioned power tools are required to meet the same stringent quality-assurance standards that a "fresh" power tool from the same factory would have to achieve. In fact, most power tool manufacturers offer the same warranty for reconditioned power tools that they offer for their brand new counterparts.

For example, extensive quality control at the Bosch facilities ensures that the quality of remanufactured power tool is equivalent to the quality of a new power tool. Bosch also is reusing high-grade plastic polymers from recycled power tool housings in their remanufactured power tools.

But be wary if someone is advertising a "refurbished" product.

Refurbished power tools have probably not been rigorously tested and are usually just eyeballed, repackaged, and resold. Reconditioned power tools are tested and repaired in accordance with tool manufacturer standards before being resold, so they are always the better choice.

3. Buy or Sell excess building materials on Craigslist.org. (ie: flooring, roofing, tar paper). Many homeowners and contractors have purchase excess supplies which take up room in a garage or storage space. A great, free place to sell stuff, any stuff, online is Craigslist.org. I've sold excess hardwood flooring on Craigslist for slightly under what I paid for it and more than I would have received if I had returned it to the retailer (because of the 25% restocking fee).

4. Start a Deconstruction Business on the side and reuse the material that you salvage. ToolsoftheTrade Editor, Michael Springer said it best, "this niche market can serve you well as an alternate in this economy."

"For more information on deconstruction and recycling house components, take a look at www.thereusepeople.org The Reuse People of America Inc. is a non-profit organization that specializes in training and certifying deconstruction contractors. It has resale yards in some areas where tax-deductible contributions of used or surplus building materials can be made. Another relevant Web site is www.buildingreuse.org

5. Be safe. Emergency room visits costs money and lost time.

Jude Herr is an avid Do-It-Yourselfer and the editor for Toologics.com , a Tool Blog which provides information, news and reviews about power tools for the professional tool user and craftsperson. Jude is also a licensed Real Estate broker in Colorado. You can contact her via JudeHerrHomes.com

Surviving As A Contractor

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