There are three ways you can save on home costs right now: (1) Negotiate on repairs and upkeep. Contractors are still facing a slumping real estate market and will strike a deal to get your business. According to a recent survey, a large percentage of contractors say they'd negotiate labor costs and more than a quarter of those surveyed said they'd drop prices by more than 10%. Landscapers are cutting rates too. You'll have the most bargaining power if you can be flexible about the timing of the project. (2) Trim the cost of borrowing. The average rate on a 30-year mortgage was 4.7% in May, down from 5.1% in February and it's expected to hit 5.8% next year according to the Mortgage Bankers Association, who also says that jumbo loan limits expire this fall. To save on closing costs, you should request a good-faith estimate before you apply. You can negotiate any fees the lender charges. You'll have the most "wiggle" room on adjustable-rate and jumbo mortgages. (3) Get a deal on furniture. Higher shipping and materials costs are pushing furniture prices up. When sales are slow during the summer, many local shops will make deals to move inventory. Ask for 20% off and don't settle for less than 10% off. Gently used floor models can be as much as 25% off.

Blog inspired by article written by Beth Braveman featured on CNNMoney and can be seen here:  http://money.cnn.com/2011/06/22/pf/home_repair_savings.moneymag/index.htm