My girlfriend and I recently decided to rent out the upstairs floor of our townhouse and live in the basement. In order to do this we would need a massive renovation for basement which was used as a living room. We would need to make a bathroom a small kitchen area and a separate bedroom in order to make it livable for us. Rather than hire a ton of contractors and drive the cost up we decided to DIY our basement.
This was going to be no easy task and would take careful shopping in order to make sure that our project came in at a reasonable price. As we began shopping around for building materials it seemed apparent that Home Depot and Lowe’s would be our go to stores. What we did find out however is that one was far superior in pricing their building materials then another.
Home Depot seemed to have far better sales and pricing on the majority of the items that we needed for our project and we were the only ones to notice the difference. Our local Home Depot always seem to be buzzing with activity words Lowe’s would remain stagnant. I can remember showing up just as Home Depot opened so that I would have access to a number of bathroom fixtures the day they went on sale. I actually managed to do the entire bathroom using the sales offers for about half of what it would cost me do it at Lowe’s.
We were the only ones to notice that Home Depot beats Lowe’s for pricing. Even with many housing related stocks and companies falling in the stock market and in the eyes of investors, I can remember hearing on the news that Home Depot was actually seeking a slight gain in the stock market despite the decline in housing investments. This shows that it’s not just a local issue in the battle of Home Depot versus Lowe’s, but that Home Depot truly is offering better pricing and therefore gaining the majority of the business in this market.
One especially helpful service that Home Depot offered was a reasonable van rental that allowed me to take some the larger items that I purchased like baseboards and drywall and easily load them into the back of the company van, for easy transport and removal. Lowe’s did offer a similar service but even it seemed to cost more money. I am quite amazed that comparable products and similar services seem to command more money at Lowe’s than Home Depot.
In the end our renovation was finished we had our renters moved in and were making the money back in no time. We are actually quite happy with how the basement turned out. All of the new additions make it a much nicer apartment than the upstairs unit. Looking back at the price list I’m so glad that we did the comparison shopping. I would recommend to anyone to look at the price difference between Lowe’s and Home Depot and see that Home Depot offers a far superior value.
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