If you're good at fixing things, but make enough money to pay someone else, should you just hire it done?

Question

Say you make $150,000 a year. Does it make sense to fix your own plumbing or electrical when you can afford to hire a professional to do it for you?

Answer 1

help the economy, hire someone

Answer 2

A couple of important key words are "Good at"

It suggests that one enjoys "doing" whatever it is, and has the skills.

That said, there are very few of us in the trades with an income of $150,000, and because we enjoy doing what we do on some level, we very often do for ourselves.

The other 2 key words are Plumbing and Electrical work. It's usual for that type of work to be more strictly goverened by codes and licensing, as opposed to painting your own house, and for very valid reasons.

The issue I have with the question is that it's hypothetical, and perhaps a moot point to anyone in this forum. Personally I do anything I'm able, to make repairs, remodel, add to, remove, because I know I am able, and because I can equate my own labor charges to what another trades person might charge.

Certainly anyone qualified is often worth the money they charge and for many reasons I would "hire" someone.

Rev. Steven

Answer 3

This depends on time and money. For example, if you make far more than you save working instead of fixing the plumbing, then you would be an idiot to take work off to fix the less cost-effective problem. Of course, someone could just take pleasure in home repairs and see it as vacation time well-spent. In the case of my dad, he is able to use the repair as a work opportunity to demonstrate life skills, so there is actually no conflict of interest - assuming he really does use it in that way. Otherwise, it might cause more stress trying to do the repair on his own while neglecting his business. Anyhow, it's an opportunity-cost analysis issue.

Answer 4

I have a formula for these things. First of all I can eliminate most things because I am not very handy but for those things where I can do them here is the calculation (and this assumes I derive no joy from doing this thing otherwise the calculation is altered for that). Okay, I make $100 per hour, however, I have about half as much free time as work time so my free time is worth $200 per hour to me. Whatever I would do myself has to cost more than $200 per hour and you also have to factor in a 60% error rate (because I will screw up the task half way through and have to start again). So, if costs $1000 and i can do it in under 4 hours i will do it myself. Otherwise, i hire someone.

I did recently trim my own bushes. I am completely covered in poison ivy.....

Answer 5

I guess it depends on a lot of things. If you gain gratification from fixing things yourself... if you stress out when others do stuff because you can't trust the quality of their work... if you have the time to do stuff... if you have enough of a knowledge to do the job well and can live with the consequences if you make a mistake, then I guess it's okay to fix it yourself. Why not? Since when does someone HAVE to hire someone just because they have money? If there was a tmie that you didn't have money and used to do all the work, you shouldn't have to change who you are just because your paycheck has changed.

And if you'd like to hire someone, then do it.

Answer 6

You should pay for people to do something you either don't know how to do, or someone can do better then you, or don't want to do.

Lot's of people enjoy doing their own plumbing and electrical work because they're fun projects to do around the house, regardless of their income. So use your judgement and if you can do something in a safe, quality way, and enjoy it, do it even if you can afford it.

Answer 7

It depends on the size of the project. If it takes a weak. Well that does'nt make sense. If it is a couple of hours by all mean take a trip to the home depot and stop being so lazy. It's better to have a working functional home than wasting time asking stupid questions.

Answer 8

If you are good at fixing things that's great. But you need to ask yourself, do I have the time to do this myself. If you have plenty of time and it doesn't get in the way of family life by all means fix it yourself. But if you are short on time you might benefit more by hiring a qualified professional to do the work for you.

Answer 9

Well I would do what I could myself, but I would probably pay someone to make sure your handiwork is going to hold up, which isn't going to cost as much as letting them do it, and is going to save you money in the future because, being you're not a professional, you might do something wrong that could cause damage in the future, or they could tell you if there's something you can add that's going to make the repair last longer. Kind of like insurance.

Answer 10

Think of it as time-value. For example, if its going to take 4 hrs to do some plumbing job, is investing your personal time worth the cost of a plumber? So, if the plumber charges say $500 , is 4 hours of your time worth $500. Only you can decide that.

Answer 11

well that just depends on how you feel, do you want to fix the issue, or would u rather just pay some stranger to come in and do the job.for some people it is a challenge to do a hands on job and it is rewarding. but hey sometimes you just don't want to take the time , some people have a tight schedule and would rather be out spending/making money