As many of you know, my wife and I had our first child earlier this year. As such, we’ve been slowly working on improvements around our house to make it more kid safe. One project was to upgrade our garage door openers to the 21st century to include the safety reverse sensors. To fund this project, we used the money set aside from the monthly contribution to our home improvements fund. So far so good, right?
What happened next is similar to what many people do when deciding whether to hire a professional to help them.
For this project, I decided to replace my garage door openers on my own. I had never done it before, but I convinced myself that I could do it because of the following considerations:
- Time – I’d need to be home while the installation pro was there anyway, so why not just use that time to install them myself? Importantly, I could do it when it wouldn’t impact my wife or son.
- Cost – I didn’t want to pay for a professional to install the garage door openers. By doing it myself, we could save our hard-earned money and put it in savings or toward other projects.
- Privacy – I simply didn’t want a stranger in my home, even if it was only for a couple of hours in our garage.
- Resources –With all of the YouTube how-to videos, forums, and step-by-step guides available online, I thought it would easy to figure out how to do it. Clearly, many others with similar skills had been successful.
Here’s what I learned the hard way after spending 10 plus hours on this project, without installing even one garage door opener successfully:
- Time – The project ended up taking four times what I thought it would, without success! I wasn’t very popular with my wife as she had to pick up my slack on the weekend chores and baby duty.
- Lesson 1 – A professional could have installed each garage door opener in 45 minutes. I could have spent my time (our most limited resource) in far better ways.
- Cost – I ended up paying a professional to install the garage door openers. I was left with a tough choice of paying a small fortune to get them installed right away (my car was outside since I removed a garage door opener) or wait for their regular scheduling. And, I had to replace a couple of parts that I damaged (argh!) and buy a wrench set that I likely won’t use.
- Lesson 2 – Focusing only on cost is a mistake. It’s super important to also consider the value of your time. It might have made sense for me to take on this project if it took just two hours to complete, but 10 plus hours – no way!
- Privacy – I was anxious about this at first, but the benefit of not having to do it myself eased my mind (especially after what I’d gone through!).
- Lesson 3 – A professional is licensed, insured, experienced, and vetted. While my apprehension may lead me to believe that having a stranger in my home is a risk, this was not the case with a professional.
- Resources – In hindsight, all the video tutorials and guides in the world wouldn’t have made this project easier. The actual installation was infinitely more difficult than the installation videos made it look.
- Lesson 4 – Implementing a task, project or plan is the hardest part of any process. Too often, one part does not go according to plan, throwing everything off. There’s simply no substitute for expertise.
The last consideration I overlooked, which could have been the costliest, is risk. The risks include:
- I could have installed the safety sensors or garage door opener incorrectly, causing a family member to be seriously injured. Or, the car could have been damaged.
- The garage door opener could have fallen on me during the removal of my old opener and the installation of the new one (especially since we didn’t have the right height of ladder as recommended in the instructions – I didn’t want to buy a new ladder).
- I could have injured myself with the disassembly of the old garage door opener or during the assembly of the new garage door opener. Mistakes and injuries happen more often than we think with DIY projects.
- I could have damaged major parts (beyond what I already did!), which could have cost me a lot more money. Warranties and store policy exchanges don’t protect against negligence and true ignorance.
We hired a professional to minimize these risks for our family.
As a note: My wife recommended from the start that we hire a professional to install the garage door openers. I learned my lesson here, too! As such, I had to park my car out in the cold until my garage door was fixed. Going forward, I will forever remember these lessons because time is our most finite resource and we need to be more intentional with how we spend it.
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Geoff has always enjoyed talking with people about finance, learning about their investments, financial strategy, and business sense. His interest only deepened with time, and what began as a hobby has now become a life-long passion, with an unparalleled passion for continuing education that makes him an expert in many subjects from traditional taxes and investments to business succession planning and executive compensation negotiations.
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