How to Save at Home Depot
It used to be that people stopped by their local hardware store whenever they needed a tool or item for their home improvement projects. But Home Depot changed all that when it opened in 1978. It only took a few years for the home improvement superstore to spread across the country. Today, it is a popular place for contractors and DIYers due largely to its huge inventory and competitive pricing. Aside from the low everyday prices, there are additional strategies customers can use to get the prices even lower. Here are a few tips for how to save big at Home Depot.
One of the first stops for any budget shopper should be the Savings Center section on HomeDepot.com. All of the discounted items from across the site are placed in the Savings Center, with discounts commonly 50% off or more. There is also a section for overstock items, and although it can take some time and effort to look through all of the overstock items to find what you need, that work can pay off by finding the perfect item at a huge discount.
Every day, Home Depot runs a Special Buy of the Day on its website. Here, one item is featured for one day only with an amazing discount. The deal is updated every 24 hours and supplies can be limited, so act fast if you see something you like.
Things are a little different in a brick and mortar Home Depot store, because there isn’t a dedicated area for Savings Center items. However, there are still plenty of deals to be found. Most Home Depot locations place inserts in the local newspaper, which feature the best in-store deals and can be a great resource. You can also find the local circular online at HomeDepot.com.
Although it takes more effort than other savings strategies, mail-in rebates can be a great way to score amazing deals, especially at the Home Depot. Many areas offer large rebates for purchasing energy-efficient or eco-friendly appliances, though the specifics and availability vary by state and region. Many appliance and tool brands also offer mail-in rebates, which can be very valuable in helping you stay on budget.
The Rebate Center on HomeDepot.com allows you to search by brand, model, number, or category to see a list of current rebates and check if any of the items you are considering are eligible. Once you make the purchase, filling out the rebate can be tricky and time consuming, especially if it’s a lengthy and complicated form like many of the government rebates. However, the end result is often a rebate of a few hundred dollars, which makes it worth your time.
Rebates often have a long list of terms and exclusions, and it is important to read them carefully before making a purchase. If you submit a rebate on an item that isn’t eligible, you won’t receive any money, which makes the purchase and the time you took to complete the forms a waste. Rebate deadlines can be quick, so make sure to complete and submit your forms before the expiration date.
Home Depot has one of the most aggressive price matching policies out there. If you find an identical item for a lower price at a competitor, Home Depot will match the price and beat it by 10%. This is an incredibly unique policy, as most stores simply match a price but don’t beat it. Home Depot’s generosity can lead to big savings, especially on large and expensive items. You can also price match at HomeDepot.com, but the website will only match a competitor’s price, not beat it by 10%.
Before you get too excited about price matching, note that there is a long list of conditions and exclusions. Home Depot won’t price match for volume discounts, open box merchandise, bid pricing, special orders, labor and installation, sales tax, and rebates. US News & World Report also makes note that Home Depot will only match a competitor’s regular price, not the price of discounted or clearance merchandise.
If you want to take advantage of the price match guarantee, make sure you are prepared when you enter the sore. Bring a copy of the policy and proof of the competitor’s price on the exact same item. After all, you don’t want to lose a deal or create a conflict with the cashier over price matching.
Most people think of coupons as things you use to get discounts at the grocery store, pharmacy, or a restaurant, but not at a place like Home Depot. However, the store is actually a great place to use coupons, and it makes it easy to use both print and online coupons. Home Depot is a leading producer of coupons, and it is unusual for the store to not have a promo code available. During busy seasons like Labor Day, the store will typically release multiple coupons and promo codes on specific, seasonal items. Pay close attention to which items are included with a coupon, as storewide promos are very unusual.
Sign up for Home Depot emails and text messages to receive a printable coupon for $5 off your next purchase of $50 or more. Home Depot will send up to 10 text messages per month, so this option is best for people who have unlimited texting.
If you are a regular Home Depot customer, a store credit card could be a valuable addition to your savings tool belt. Home Depot is very effective in marketing its credit card and making it seem very attractive. The many perks and benefits of using the card include the following:
•Special financing on major purchases — The first purchase you make on the card of $299 or more is eligible to be interest-free for six months. You have to pay your minimum monthly payment to maintain the promotion, and the item must be paid off in full within six months. Although it takes discipline to stick to a payment schedule and fully pay off the item in the allocated timeframe, you can save a lot of money by avoiding interest payments.
•10% off your first credit card purchase — Maximize your savings by making your first purchase on the card on something large, instead of on a $20 item. The biggest discount you can receive is $200, which means the 10% discount only applies to items up to $2,000. If you spend more than that, you won’t get any extra discount or benefits.
•Exclusive savings offers — Home Depot gives its cardholders lots of other perks and bonuses throughout the year. Most offers involve zero-percent interest for particular products if they are paid off within 12 months.
Another credit card option is the Project Loan card from Home Depot instead of the regular Home Depot card. The Project Loan card allows you to get a loan of up to $40,000 with a fixed interest rate of 7.99%. You can take up to 84 months to pay off the loan. This is a great option if you are planning an extensive and expensive renovation or large project.
Buy Discounted Gift Cards at Cardpool.com. Although most people think of them as presents, there are lots of other ways to take advantage of gift cards. In fact, they can be a great way to save even more money if you use them yourself. Cardpool.com features a marketplace where people can buy and sell discounted gift cards for hundreds of stores. Home Depot gift cards typically sell for 8% off at Cardpool.com, which means you are essentially getting an 8% discount on top of all the other sales, rebates, and coupon codes at Home Depot.
You can buy both physical and electronic gift cards at Cardpool.com. Some electronic cards can be printed immediately and used in store, while others can only be used online. All physical cards can be used in store or online and are shipped to you for free