How much could you save with a tradesperson in the family? New data reveals surprising financial benefits

With the cost of home repairs and renovations rising, new research from My Local Toolbox reveals that families with a tradesperson in the household can save thousands over a lifetime – sometimes even over £100,000.

This new data highlights the financial advantages of having a partner or family member who can tackle DIY projects and home repairs without needing to find a builder to help.

We reveal which tradesperson could save you the most money, according to the study.

How was the data compiled?

My Local Toolbox's research uses market value data to calculate how much money families save when they don’t have to hire professionals for home repairs.

The data from My Local Toolbox estimates how much a household can save if a tradesperson (e.g., builder, electrician, plumber) is part of the family, based on current market rates for services like home repairs and renovations.

The research considered how often a household would typically need these services over a year, a decade, a marriage (32 years), and a professional career (48 years).

Labour costs were factored into the calculation, representing what the household would have to pay if they hired a professional tradesperson.

Which tradesperson saves the most?

The data reveals that builders provide the most significant financial relief, saving their families more than £100,000 over a typical working career. This is equivalent to four house deposits or three university degrees.

According to My Local Toolbox, there are around £60 billion spent on residential buildings every year in the UK, making the savings even more significant for families fortunate enough to have a tradesperson at home.

While builders lead in terms of savings, electricians and plumbers also offer notable benefits. An electrician spouse will save their family an average of £755 per year, adding up to more than £38,000 over the course of a marriage.

How alarm service engineer Les Coates saved his friends and family £60,000

The study used retired alarm service engineer Les Coates from Newcastle Upon Tyne as an example in their study.

He had 40 years of experience as a tradesperson and he revealed how he helped his friends and relatives as "My mates and relatives are always asking me to do odd jobs for them."

"Almost every week, someone is looking for help. With 40 years in the trade, I can fix just about anything electrical in the home. I never charge for it, I'm happy to help them out", he explained.

Based on the same calculations used for other tradespeople, My Local Toolbox estimates that Les has saved his loved ones approximately £60,000 over his 40-year career by offering his services free of charge, going to show the benefits of knowing a tradesperson.