Tips to Follow When Trying to Save Money on Renovation Costs in the GTA

If you are trying to make it as a professional house flipper in the GTA there are some key tips you should follow when trying to save on costs. The first is finding a reputable plumbing company in Toronto that will be able to address any major plumbing jobs that your home renovation may need. While the majority of simple plumbing jobs can be performed by a carpenter/electrician or individual with practical hands-on experience for larger tasks there is a need for a professional contractor.

Qualities to Look for When Screening a Prospective Plumbing Company in Toronto

There are some essential qualities that you must look for when assessing prospective plumbing companies servicing the GTA.

·    Is the plumbing company licensed and insured to work within the GTA? They should have their licensing details prominently listed on their website. If you cannot find those details then remove that firm from your list.

·    Does the plumbing company offer a warrantee on the work they are doing? Without the warranty, you would be liable for any additional costs associated if they perform substandard work.

When you have completed this review, you should be able to identify the GTA plumbing contractor that has the best value proposition.

Saving Money on Renovation Materials

There are a few strategies you can use when trying to save money on renovation materials. The reason you want to keep the cost of the renovation materials down is to maximize your profits. Homes in the GTA are selling fast but the real estate market is showing signs of cooling down so you may not be able to get the maximum asking price you want. With that sentiment in mind you should consider implementing the following.

·    Using a cashback credit card so you receive an instant discount on every purchase you make. With the average renovation job of a bathroom running upwards of $20k the cashback feature should help you save.

·    Consider using discontinued product lines. If you are installing a new floor you might consider using a discontinued product line. These products are not advertised so you need to visit your local renovation store and speak with the manager.

·    Ask the local renovation store manager for a better discount if you buy from them in bulk. They may be able to give you a better price but you have to ask upfront.

Tips on How to Save Money Doing the Renovation Work

Whenever possible try to consolidate your renovation work so you can leverage the professionals in a more efficient manner. By having all of the tasks consolidated you will be able to get the best possible bang for your renovation buck since the professional plumbers/electricians/carpenters are fully utilized. The challenge is to move forward and implement these suggestions but if you do then you should be able to maximize your profits from flipping properties in the GTA.