To keep home improvement costs at a reasonable level, you have decisions to make.

Electrical work: A licensed electrician can handle anything related to electricity. They cost about $75 to $100 an hour. You should hire one for any basic electrical work or anything that involves new wiring in the walls.

A good independent handyman has less experience but costs only $25 to $50 an hour. He probably has many capabilities. For example, he could not only install a new ceiling fan, he could also paint the ceiling.

Franchises, such as HouseDoctors, charge more but are more likely to insure and bond their crews.

Plumbing: Similarly, the independent handyman could not only replace the faucet or install the toilet, but he could replace most bathroom floors as well.

His work will cost less than that of a union plumber. But for projects that require new pipes or rearranging pipes under the floor, a professional plumber is your best bet.

Heating and cooling: Depending on the handyman's experience, he could replace the thermostat or a thermocouple, but for actual furnace or air conditioning repairs, call a pro.

General contractor or tradesman? Experts reporting in Money magazine say a general contractor will handle everything related to a home improvement project. It's a big help if the project includes several subcontractors. He will mark up their fees by 10 percent or 20 percent to cover his own expenses.

If your project requires only one or two subcontractors, you might be able to manage it and save money.