How To Find The Best Deals On Power Tools To Save Yourself A Big Wad Of Cash

Although some power tools are items every homeowner should have, such as a cordless drill or a circular saw, they're also quite expensive. You can expect to pay anywhere from $50 to $250 for a typical power tool made for a homeowner. Professional-level power tools can cost several hundred dollars or more. There's no question that doing DIY jobs around the house becomes much easier when you have the right tools on hand, but it can be challenging to justify the price tag on a tight budget, making saving money important.

Although it's tempting only to try to save money by figuring out whether Home Depot or Lowe's has better deals on power tools, the cost differences between these two big box retailers typically are minor. Additionally, both Home Depot and Lowe's offer low price matching guarantees against their competitors. Instead, if you really want to save a big wad of cash, you may want to try to anticipate the best times of the year to purchase power tools.

As you might expect, many of the best deals regarding power tools from all retailers occur during major holidays where sale prices are common, such as Black Friday in November. Sales also frequently appear around Father's Day in June and Labor Day in September. Additionally, you may find some discounts after these holidays end as retailers try to reduce overstock, such as after-Christmas sales in early January.

How to make the most of your dollar when buying power tools

Black Friday sales among retailers can involve almost anything, including power tools. Retailers often use huge discounts on a few products to lure in shoppers, who may buy other full-priced things. This means that discounts on power tools may be deep, but they may only apply to a few models. Another time when significant deals may only apply to specific models is around Labor Day, as retailers often will discount end-of-season outdoor power tools while also looking to sell older models to make room for fresh inventory in time for the Christmas holiday selling season. When seeking a great bargain on power tools where you may not have a specific model in mind, Father's Day is a good time to shop. Retailers are looking to give gift givers options that may involve a wider selection of products that may come at a smaller discount versus other holidays, say 15% to 30%.

Perhaps the best advice is to review past prices for the types of power tools that you want to purchase. Track the price over time, and when you notice a significant drop, regardless of the time of the year, you can make the purchase. Understand that a retailer may use signage to make a price look like a sales price when your price tracking notes show that the reported sales price is not any lower than what the retailer was offering a few months ago.